Question
A consignor sends goods costing ₹2,00,000 to consignee
at invoice price of 125% of cost. 1/10th goods are lost in transit (abnormal). Consignee sells 75% of remaining goods at 20% profit on invoice price. Calculate profit on consignment.Solution
Invoice price = 2,00,000 × 125% = ₹2,50,000. Loss in transit = 25,000 (abnormal → transferred to P&L). Goods left = 2,25,000. Sold = 75% = ₹1,68,750. Cost of these = 75% of 1,80,000 = ₹1,35,000 Sale value = 1,68,750 × 120% = ₹2,02,500. Profit = 2,02,500 – 1,35,000 = ₹67,500.
Who is considered a "contractor" in relation to an establishment as per the Code on Wages?
When an employee works in excess of the normal working hours, the employer is required to____________
Consider the following statements regarding period of limitation for prosecution under PCA, 1988:
Statement 1: No offence under PCA can be pro...
Which of the following is not a ground for dissolution of a firm by the court?
The ______________________ may delist the securities, after recording the reasons therefor, from any recognised stock exchange on any of the ground or g...
Consider the following statements regarding exceptions to culpable homicide or murder under Sections 103-105 of the Bharatiya Nyaya Sanhita, 2023:
<...As per Section 34(2)(iii) of BNSS, “officer employed in connection with the affairs of a village” includes—
Where any authority or Committee contravenes any provision of The Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) ...
According to Section 3(1), the Central Vigilance Commission constituted under which of the following shall be deemed to be the Commission under this Act?
Which of the following cases talks about right to education as a Fundamental Right?
