The calibre or quality of the management team is not disclosed in the Balance Sheet. ii. Assets are recorded in books at the cost incurred for acquisition of such assets. iii. Capital contributed by the proprietor is credited to his Capital Account. iv. The assets of ABC Sugar Co. were acquired by the Government on 1st April,2020 and the company received the compensation of $10 million. The company did not have any other business as on date of acquisition and has also not ventured into any other business after acquisition of assets. The company placed the amount so received in a fixed deposit with a bank, which is lying deposited with the bank, which is lying deposited with the bank as on date also. It has also filed a case in the Court seeking higher compensation.
Answers
Answered by
2
Explanation:
y she tdswchiedcjitasc️☺️⭐
Attachments:
Similar questions