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Start learning 50% faster. Sign in nowICDS II (Income Computation and Disclosure Standards II) focuses on providing guidelines for the valuation of inventories. Inventories refer to goods held by a business for the purpose of resale, production, or consumption. This standard ensures that inventories are valued appropriately in a consistent manner to reflect their true economic value. Proper valuation of inventories is crucial for determining accurate profits and financial positions in a business. The standard outlines principles and methods for determining the cost of inventories, including factors such as purchase cost, production cost, and overhead allocation. This helps in maintaining consistency and transparency in financial reporting across different businesses.
Under the Prevention of Money Laundering Act (PMLA), 2002, which of the following is a "reporting entity" under the Act?
Art.13 is not applicable to?
Any person interested in a contract may sue to have it rescinded, and such rescission may be adjudged by the court in which of the following cases?
What are the processes issued to compel appearance of accused?
Which of the following shall be an Appellate Tribunal under the Competition Act, 2002?
Which of the following is not a formal source of Muslim personal law in India?
A. The Constitution of India
B. The Quran
C. Su...
Which of the following is a constitutional body ?
As per section 9 of the Motor Vehicles Act where the applicant does not pass the test even after ___________appearances, he shall not be qualified to re...
Under Factories Act, 1948, an adult worker shall not work continuously for more than five hours unless he has had a rest interval of at least—
A person shall be qualified to be appointed as the President of the National Company Law Tribunal if________________