Question
a.
Figures should be rounded off to the nearest tens or hundreds.
b.
Figures should be rounded off to the nearest lakhs, millions, or crores, depending on the turnover.
c.
Figures should be rounded off to the nearest thousands, lakhs, or millions, or decimals thereof, based on the turnover.
d.
Rounding off is not specified; companies can choose any rounding method.
Posted under IC 89 Management Accounting
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Q. How should figures in the Financial Statements be rounded off based on the turnover of the company?
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