Respected Sir,
what does the term "same trade" mean from the sentence "any unrelived loss is CF ad offset against profits of the same trade"?
Best regards,
Rojid Nayaz.
Ask the Tutor ACCA TX-UK
"Same trade"
A business will carry out a trade, for example manufacturing cars and it then stops making cars and makes TV's - unlikely I know - then any unused trading losses of the car business would not be able to be c/f and set against the trading profits of the TV business. Those losses would lapse on the cessation of the car trade
Sign in to reply to this topic.