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At the time of absorption of B Ltd by A Ltd, trade receivables of both companies shown in their Balance Sheets were ?30 Lakhs and ?16 Lakhs. On that date trade payable of B Ltd includes payable to A Ltd ?5 Lakhs. After absorption, the amount of trade receivables will be shown in A Ltd

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The syllabus (with weightage):
A. GAAP and Accounting Standards 20%
B. Accounting of Business Combinations & Restructuring 20%
C. Consolidated Financial Statements 20%
D. Developments in Financial Reporting 25%
E. Government Accounting in India 15%


At the time of absorption of B Ltd by A Ltd, trade receivables of both companies shown in their Balance Sheets were ?30 Lakhs and ?16 Lakhs. On that date trade payable of B Ltd includes payable to A Ltd ?5 Lakhs. After absorption, the amount of trade receivables will be shown in A Ltd






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