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Question
Preliminary expenses are to be written-off completely in the year in which such expenses are incurred. It is shown by deducting it from ...............
Preliminary expenses are to be written-off completely in the year in which such expenses are incurred. It is shown by deducting it from ...............
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Solution
The correct option is B Statement of profit & loss
They should be written-off first from securities premium and the balance if any, from statement of profit & loss.
Statement of profit & loss
They should be written-off first from securities premium and the balance if any, from statement of profit & loss.
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