CBSE Class 11-commerce Answered
if a customer of X ltd. hs discontinued his business. he used to purchase 30% of thetotal goods produced by X ltd. He has no informed X Ltd about the closure of the business. which concept he has violated?
Asked by bomshekar | 03 Oct, 2018, 02:17: PM
Expert Answer
The closure of business is really an important event for both suppliers and customers dealing with the business. An item or event if is so important is regarded as material item as the knowledge of this event would definitely affect the decision of an informed investor or related party. In non-disclosure of such important information, principle of materiality is violated.
Answered by | 04 Oct, 2018, 10:55: AM
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