While examining the accounts of a company, you find the following items on credit side of profit
Question:
While examining the accounts of a company, you find the following items on credit side of profit and loss account:
(a) Profit on revaluation of land.
(b) Bounties received from Central Government.
(c) Excess depreciation charged in the previous year now written back.
(d) Unclaimed dividend.
Would you have any objection as auditor in passing the accounts of the company? State with reasons.
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