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Start learning 50% faster. Sign in nowThe principle of "substance over form" emphasizes that the economic reality of a transaction should be considered more important than its legal or accounting treatment. In the scenario described, where rights and beneficial interest have been transferred even though documentation and legal formalities are pending, recognizing the transaction as a sale and purchase reflects the substance of the transaction, as opposed to just the legal form.
Consider that 'A' and 'B' were collectively paid Rs. 9,000 for a job. Out of this amount, 'B' received Rs. 3,000. If 'B' can finish this task solo in 48...
P alone can finish a piece of work ‘M’ in 5 days while Q takes 3 days to finish it alone. P, Q and R working together can finish the work ‘N’ wh...
X can do a piece of work in 20 days. He worked at it for 5 days and then Y finished it in 15 days. In how many days can X and Y together finish the work?
A and B together can complete a piece of work in 12 days, while B and C can complete it in 15 days. A, B, and C together can complete the same work in 8...
‘n’ men working 20 hours a day can complete a work in 8 days while (6n – 4) men working 10 hours a day can complete the same work in 8...
A red JCB machine can complete the excavation of a field in 10 days, while a green JCB machine can accomplish the same task in 15 days. If both machines...
John, Emily, and Michael can each complete a task in 15 days, 20 days, and 18 days, respectively. They decide to work on the task alternately, starting ...
P and Q can complete a work in 26 days and 39 days, respectively. P, Q and R together can complete the work in 13 days. If R get a total wage of Rs. 585...
A takes 30% longer to complete a task than B. If the total payment for the work is Rs. 11,500 and they complete the task together, how much should A be ...
M and N, working in tandem, can successfully attain the sales target within a span of 15 days. Now, if N's efficiency is _______ percent less than that ...