Question
An oil company constructs a drilling platform at a cost
of ₹200 crore. It estimates a dismantling cost of ₹30 crore at the end of 25 years. The present value of this dismantling cost is ₹7 crore. How should this be accounted for initially?Solution
The present value of dismantling costs (₹7 crore) is added to the initial cost of the asset, making the capitalised cost ₹207 crore, and a provision is recognised for the same amount.
Consider the following events in the geological history of India:
1. Formation of Gondwana coal
2. Formation of Himalayas
3....
Which one of the following longitudes determines the Indian standard time?
An exoplanet is defined as:
Which is the largest freshwater lake in the world?
The largest coral reef in the world is found off the coast of which country.
Dudhsagar Falls lies on which of the following rivers?
Which ocean is the smallest by surface area?
In which atmospheric layer is there no decrease in temperature with an increase in altitude?
Which of the following pairs is NOT correctly matched?
What percent of the earth’s surface is covered by the Atlantic Ocean?
