Question
Valuing inventory at cost or net realizable value is
based on which principle?Solution
According to the Conservatism (Prudence) principle, expected losses should be recorded but gains should not. Hence, inventory is valued at lower of cost or net realizable value to avoid overstating assets.
The minimum age of joining APY is 18 years and maximum age is _____.
EEFC account acts like which account?
Digital lending guidelines issued by the RBI in 2022 emphasized which of the following?
Which of the following Statement is correct with respect to cash and cash equivalents?
Consider the following Statements and choose the option with correct Statements.
I- Pradhan Mantri Awaas Yojana –Gramin (PMAY-G) was launched i...
What are the prudential exposure limits for UCBs for a group of connected borrowers/parties?
Pradhan Mantri Mudra Yojana is aimed at increasing the confidence of young, educated or skilled workers who would now be able to aspire to become first ...
What is the new deadline for Bullion Trading and Clearing Members in GIFT-IFSC to meet Net Worth and Base Minimum Capital (BMC) requirements as per the ...
What is the financial allocation for women-related schemes in the Union Budget 2024-25?
Under the IFSCA (Finance Company) Regulations, 2021, what activities qualify Finance Companies (FCs) and Finance Units (FUs) as Credit Institutions unde...
