Question
A company pays insurance premium of ₹24,000 for 12
months in advance in March 2025 for the period January 2025 to December 2025. The accountant records the entire amount in the Profit & Loss account of FY 2024–25. Is this treatment appropriate?Solution
Matching principle requires expenses to be recognised in the period they relate to. ₹18,000 is for April–Dec 2025 and should be treated as prepaid.
In the question below some statements are given followed by three conclusions I, II and III. You have to take the given statements to be true even if t...
Statements: All Ubuntu are linux.
All linux are vista.
Conclusions: I. Some linux a...
Conclusions:
A few platforms may be trains.
Some tickets being passenger is a possibility.
Statements:
- In the question below there are three statements followed by two conclusions I and II. You have to take the three given statements to be true even if they ...
Statement:
At-least some E are F.
A few F are G.
Only a few H are F.
All F are Q.
Conclusion:
I. All G b...
In the question below some statements are given followed by two conclusions I and II. You have to take the given statements to be true even if they se...
Statement:
Some sandals are slippers.
No slipper is a boot.
Only few slippers are heels.
Only Heel is Wedge.
Conclusi...
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at varianc...
In the questions given below, there are three statements followed by three conclusions I, II and III. You have to take the three given statements to be...
Statements:
Some doors are windows.
All windows are beds.
Some beds are pillows.
All pillows are blankets.
...
Relevant for Exams:
Hey, Don't leave. If you have any queries regarding any exam let us know here.
