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Analysing Comparative Statement of Profit and Loss

According to ...

Question

According to AS-6 "Depreciation Accounting", issued by the ICAI, change in method is permitted _____________.

A

Prospectively

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B

Retrosecpectively

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C

Negatively

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D

None of the above

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Solution

The correct option is C Retrosecpectively
According to AS-6 "Depreciation Accounting", issued by the ICAI, change in method is permitted Retrosecpectively.

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