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Purchases should be debited, but if wrongly recorded in the sales book, it results in an increase in both sales and gross profit. Since actual purchases are understated and sales are overstated, gross profit will be overstated, causing a fictitious increase in gross profit.
How is the contribution margin per unit calculated?
Which of the following types of documentary credit allows the beneficiary (exporter) to receive payment even if the documents do not comply with the exa...
Which city hosted the Sustainable Finance for Tiger Landscapes Conference aimed at mobilizing USD 1 billion for tiger conservation?
What is the purpose of the Motor Vehicles Act, 1988 with respect to insurance?
Consider the following statements about the budget estimates of fiscal year 2023-24.
1. The share of subsidies is more than the share of defen...
Consider the following statements about the participants in the derivatives market:
1. Hedgers use derivatives to manage or mitigate risk by taki...
Regarding Transformation of Aspirational Districts’ programme, consider the following statements:
1. Its focus is to raise living stan...
Sale of an inventory of a firm would be classified as a:
The Basel III capital regulations were implemented in India with effect from _________ and have been fully implemented as on____________.
Job enrichment refers to _________