ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    A company has an ongoing CSR project that remains

    unspent at year-end. What is the correct treatment?
    A Expense to P&L Correct Answer Incorrect Answer
    B Transfer to тАЬUnspent CSR A/c тАУ Ongoing ProjectsтАЭ within 30 days and spend within prescribed time Correct Answer Incorrect Answer
    C Carry forward as prepaid Correct Answer Incorrect Answer
    D Transfer to Capital Reserve Correct Answer Incorrect Answer
    E Adjust against retained earnings Correct Answer Incorrect Answer

    Solution

    Companies Act/CSR Rules require transfer to a special account for ongoing projects within timelines.

    Practice Next
    More Accounts Questions
    ask-question