Q.1.3 During the previous financial year, a competitor began litigation against Isomin Ltd (4) regarding a dispute over a design. On 10 April 2021, a judge decided that Isomin Ltd should pay the competitor R45 000 without leave to appeal. Isomin Ltd had treated this matter as a contingent liability in the 31 March 2020 financials.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Q.1.3 During the previous financial year, a competitor began litigation against Isomin Ltd
(4)
regarding a dispute over a design. On 10 April 2021, a judge decided that Isomin Ltd
should pay the competitor R45 000 without leave to appeal. Isomin Ltd had treated
this matter as a contingent liability in the 31 March 2020 financials.
Transcribed Image Text:Q.1.3 During the previous financial year, a competitor began litigation against Isomin Ltd (4) regarding a dispute over a design. On 10 April 2021, a judge decided that Isomin Ltd should pay the competitor R45 000 without leave to appeal. Isomin Ltd had treated this matter as a contingent liability in the 31 March 2020 financials.
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