Question
Which of the following statements is true for cash basis
accounting?Solution
The correct answer is D. In cash basis accounting, revenue is recognized only when cash is received and expenses are recognized only when cash is paid. Therefore, revenue is not recognized when earned and expenses are not recognized when incurred.
Which of the following jurists is associated with the 'Pure Theory of Law'?
What does the legal maxim Qui Facit Per Alium Facit Per Se imply in the context of the law of agency?
Framing of charge is covered under which section of CrPC?
Ownership is the ______ recognition of a claim
The Wagan Mound Case discusses:
Which of the following is not true about Passing off?
When presentment for payment is to be made under Section 65 of the Act?
The Registrar shall allot to the company a corporate identity number which shall be _____________
What is an admission as per the Bharatiya Sakshya Adhiniyam?
The Doctrine of ‘Res Gestae’ has been incorporated in which of the following Section of the Evidence Act?
