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financial position is so pervasive that management determines after the reporting period either that it intends
to liquidate the entity or to cease trading, or that it has no realistic alternative but to do so, preparation of
financial statements for the financial year 2019-2020 on going concern assumption may not be appropriate. In
that case, the financial statements may have to be prepared on a basis other than going concern.
However, if the going concern assumption is considered to be appropriate even after the fire, no adjustment is
required in the financial statements for the year ending 31.03.2020.
29. 4
