Question
A company’s warehouse was damaged by fire after the
balance sheet date but before the approval of accounts. Under Ind AS 10, this is:Solution
Post-BS event, not related to conditions existing at year-end = non-adjusting, but disclosure is required.
Company’s cash book shows ₹1,20,000 (CR) as at year-end. Bank statement shows ₹1,05,000 (CR). Outstanding cheques total ₹20,000 and deposits-in-...
How is the commission on reinsurance accepted typically accounted for by the reinsurer?
Which of the following accounts in insurance company reportingtracks the revenue and expenses related to policyholders?
What is the interest rate earned on digital currency e-rupee?
In a Letter of Credit (LC) transaction, which entities typically play a role in addition to the issuing bank, advising bank, and beneficiary?
Within how many days a person should apply for registration?
A central PSU adopts sovereign guarantee-backed debt for a ₹2,000 crore infrastructure project. What impact will this have on its cost of capital?
According to RBI’s discussion paper on the Expected Credit Loss (ECL) model for banks, how should the transitional adjustment amount be treated at the...
With respect to AS 13 relating to Accounting for Investments, which of the following statement is incorrect?
XYZ Radiology Centre acquired a new imported X-ray machine for Rs.10,50,000. Octroi paid on the machine was Rs. 5,000. Expenses of setting up and start...
