Question
A fire insurance policy was issued for one year on 1st
January 2024 with a total premium of ₹1,20,000. The insurer recognizes revenue on a time-proportion basis. How much premium will be recognized as income in the year ending 31st March 2024?Solution
Jan to Mar = 3 months → 3/12 × ₹1,20,000 = ₹30,000
Section 115JAA allows which of the following?
When a customer deposits a check into their bank account, what type of transaction is taking place?
What is the role of GeM in promoting transparency in government procurement?
Which method of depreciation results in higher depreciation in earlier years?
Which of the following statements is FALSE?
From the following particulars furnished by Mr X residing in Delhi, find the taxable amount of HRA. Basic Salary (per annum) is ₹ 3,00,000, House Rent...
ABC Ltd. projected sales of 45000 jeans trousers for the year 2016. The estimated stock on January 1st, 2016 is 3000 units and the desired stock on 31st...
Which of the following is an example of capital expenditure?
Assuming that the discount rate is 7% per annum, how much would one pay to receive ₹500, growing at 5%, annually, forever?
What is the required provisioning for under-construction Commercial Real Estate (CRE) loans as per RBI’s 2025 guidelines?
