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What is the required treatment of each of the events

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Question - ADVANCED FINANCIAL REPORTING - What is the required treatment of each of the below events in the financial statements? Justify your decisions.

a) On 12 August 20X9, a fire damaged the head office of Carey. The buildings, fixtures and fittings were only partly insured.

b) At its 5 September 20X9 meeting, Carey's board of directors voted to double the advertising budget for the coming year and authorised a change in advertising agencies.

Reference no: EM133015710

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