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Direction: Choose the correct answer to the following questions from the given alternatives:
Loss on issue of debentures is treated as:
- a)Intangible asset.
- b)Current asset.
- c)Current liability.
- d)Miscellaneous expenditure.
Correct answer is option 'D'. Can you explain this answer?
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Direction: Choose the correct answer to the following questions from t...
Explanation:
- Treatment of Loss on Issue of Debentures: Loss on issue of debentures is considered as a miscellaneous expenditure and not as an intangible asset, current asset, or current liability.
- Miscellaneous Expenditure: Any loss incurred during the issue of debentures is treated as a miscellaneous expenditure because it represents an additional cost for the company which does not result in the acquisition of any tangible or intangible asset.
- Impact on Financial Statements: Treating loss on issue of debentures as a miscellaneous expenditure will result in a decrease in the company's profits and overall financial performance.
- Disclosure: It is important for companies to disclose such losses transparently in their financial statements to provide a clear picture of their financial position to stakeholders.
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Direction: Choose the correct answer to the following questions from the given alternatives:Loss on issue of debentures is treated as:a)Intangible asset.b)Current asset.c)Current liability.d)Miscellaneous expenditure.Correct answer is option 'D'. Can you explain this answer?
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