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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.?????
The requirement is from a question “Eastern Engineering” which I can see in BPP’s F8 Study Text to June 2018. If you have the book you have the answer.
If you have seen it elsewhere, it cannot be answered based on the edited information which you have provided (the circumstances are incomplete as there are two circumstances ) so I suggest you disregard it.
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