Question

When should corresponding amounts (comparatives) for the immediately preceding reporting period be given in the Financial Statements?

a.

Only in the first Financial Statements laid before the Company

b.

Only when the turnover exceeds one hundred crore rupees

c.

In every Financial Statement regardless of turnover

d.

Only when the company deems it necessary.

Answer: (a).Only in the first Financial Statements laid before the Company Explanation:Corresponding amounts (comparatives) for the immediately preceding reporting period should be given, except in the case of the first Financial Statements laid before the Company.

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Q. When should corresponding amounts (comparatives) for the immediately preceding reporting period be given in the Financial Statements?

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