[husamhmaid]

the company incurred development expenditure of 25000$ spent on a viable new product which will go into production next year and which is expected to last for 10 years . the direct labor cost involved is 10000$.

profit before tax 100000$
non current assets 133000$

assets constructed by company 34000$
non current assets at net book
value 666667$

required:-

State whether you feel that a modified audit opinion would be necessary for each of the two circumstances outlined above, giving reasons in each case.?????

[husamhmaid]

Hi tutor
the company incurred development expenditure of 25000$ spent on a viable new product which will go into production next year and which is expected to last for 10 years . the direct labor cost involved is 10000$.

profit before tax 100000$
non current assets 133000$

assets constructed by company 34000$
non current assets at net book
value 666667$

required:-

State whether you feel that a modified audit opinion would be necessary for each of the two circumstances outlined above, giving reasons in each case.?????

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