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.
- Statements:
Only Digit is Number
Some Digit are Word
Some Word are Letter
Conclusions:
I. Some Number are Letter Statements: All numbers are alphabets.
All alphabets are vowel.
No vowel is digit.
Conclusions:I. No number is digit.
II...
Statements: Some sweaters are coats.
All coats are shawls.
Conclusions: I. Some sweaters are shawls.
...
Statements : Some pixels are pictures.
All pictures are resolution.
No resolution is a camera.
Conclusions: All resolution bein...
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:
Only a few balloons are cakes.
All cakes are knife.
Some knife are ribbons.
Only a few ribbons are candles.
...Read the given statements and conclusions carefully. You have to take the three given statements to be true even if they seem to be at variance from co...
Statements: Some nails are hairs.
...
Statement:
All badmintons are rackets.
Some rackets are rubbers.
No rubber is a string.
Conclusion:
I. Some strin...
Statements: Some news are telecasts.
All telecasts are satellites.
All satellites are emissions.
Conclusions: ...
