State with reasons, whether the following statements are true or false: A fixed charge generally covers all the assets of the company including…
CA Foundation · Accounting · RTP · September 2024
State with reasons, whether the following statements are true or false: A fixed charge generally covers all the assets of the company including future one .
Suggested Answer and Working Notes:
False: A fixed charge is a mortgage on specific assets. A floating charge generally covers all the assets of the company including future one.
Topics: True/False
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