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?
More Accounts Questions
- According to the Insurance Act, who can receive remuneration or reward for soliciting or procuring insurance business in India?
- In process costing, the cost of normal loss is:
- Journal entry for recording of bad debt expense is which one among the following?
- A company's current ratio is 2.5, but its quick ratio is only 0.9. What does this suggest about its liquidity?
- The following information is available about CrismsonCoporation. Study it carefully to calculate the basic EPS for the year ended Marc,31, 2015. Net incom...
- Under the head Income from other sources, Family pension received is exempted upto ______.
- For intra-State sales, the GST is divided between the Centre and the State in the ratio?
- A company's interest coverage ratio (EBIT/Interest) is 3. If interest increases while EBIT unchanged, what happens to ratio and credit risk?
- …………… is the % by how much % can the sales drop down before the organisation start making losses
- GSTN is a?
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
