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.
Eight bungalows P1, Q2, R3, S4, T5, U6, V7, and W8 are in two rows with four bungalows in each row. But not necessarily in the same order.
R3 is ...
Six friends GX, HX, IX, JX, KX, and LX are watching a football match sitting in a row facing North. GX and IX are at the extreme ends. KX is the neighbo...
Select the related number from the given alternatives.
54: 200 :: 43: ?
The second number in the given number pairs is obtained by performing certain mathematical operation(s) on the first number. The same operation(s) is/ar...
If N = 14 and URN = 53, then CUSTOMS =
'R - S' means 'R is the brother of S'
'R # S' means 'R is the daughter of S'
'R * S' means 'R is the father of S'
'R $ S' means 'R ...
Select the Venn diagram that best illustrates the relationship between the following classes.
Lethargy, Anxiety, Power
If ‘A’ stands for ‘÷’, ‘B’ stands for ‘×’, ‘C’ stands for ‘+’ and ‘D’ stands for ‘−’, what will come in place of the...
Which of the following is true if the expression ‘Y @ Z # V $ F & P % L’ is definitely true?
In which direction is Rita facing?
I. Rita took two consecutive right turns after walking 5 Kms
II. Rita walked towards East and took two ...
