R Ltd., a pharmaceutical company, has been sued by its competitor for patent violation. For this law
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R Ltd., a pharmaceutical company, has been sued by its competitor for patent violation. For this law suit, the company made a provision of ₹ 10,00,000 in its financial statements at 31st March, 2013 which have not yet been approved. On 14th April, 2013 the court awards ₹ 12,00,000 damages against R Ltd. The company should:
A. Adjust the financial statements
B. Leave the financial statements, but disclose it by way of a note
C. Ignore it
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Related Book For 
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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