Question
If rights and beneficial interest in a property is
transferred but documentation and legal formalities are pending then seller & purchaser should record in their accounts as sale & purchase. Which principle is applied hereSolution
The 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.
Statements:Â
Some Gases are not Solids.
All Solids are Liquid.
Only a few Liquid are Precipitation.
Conclusions:
Statement: S < T ≥ O = R; T < V
Conclusion:
I. V > S
II. R < VÂ
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No pencil is an eraser.
Conclusions:I. No paper is a pencil.
II. No paper is an eraser.
...Statements:
Some copy are not book.
Only a few book are paper.
Only paper are notebook.
Conclusions:
Some copy may...
In the question below there are three statements followed by three conclusions I, II, and III. You have to take the three given statements to be true e...
Statements:
Some couliflower are cabbage.
Some cabbage are asparagus.
Some asparagus are pumpkin.
Conclusions:
I...
Statements-:
Only a few Apple are not Mango
Some mangoes are orange
All orange are grapes
Conclusions-:
I. All or...
In the question below there are three statements followed by three conclusions I, II, and III. You have to take the three given statements to be true ...
Statements :No mango is a guava.
Some guavas are oranges.
Some oranges are apples.
Conclusions :I. Some apples are oranges.
...
