Question
A manufacturing firm includes administrative overheads
and interest costs in inventory valuation during a slowdown. Which accounting principle is violated?Solution
Inventory must not include abnormal costs like interest or administrative overheads unrelated to production. Including them inflates asset values, violating the prudence concept.
Who was honored with the Olympic Order by the International Olympic Committee (IOC) in July 2024 for his notable contributions to the Olympic movement?
- TRIFED has signed MoUs with which institutions to expand tribal product marketing and facilitate tribal entrepreneurship?
Amanpreet Singh won Gold in the Men’s 25m Centre Fire Pistol with a score of:
Who was named Player of the Match in the WTC Final 2025?
Under PRARAMBH 2026, which AI-enabled chatbot was introduced to improve taxpayer services?
__________ and PhonePe have collaborated to provide a range of inclusive car and bike insurance products directly to users through the PhonePe platform....
Of which Indian states are the handwoven Rayagada Shawls crafted by the Dongria Kondhs poised to receive a Geographical Indication (GI) tag?
Which Indian actor was appointed as Thailand's Brand Ambassador and Honorary Tourism Advisor?
The National Statistical Office (NSO) has released the estimates of Gross Domestic Product (GDP) for the April-June quarter (Q1) of 2023-24, both at Con...
The Uttar Pradesh government signed an MoU with the Government of India for the establishment of 1,000-acres-wide textile parks in which districts?
Relevant for Exams:
