Question
A company faces a lawsuit for patent infringement. Legal
advisors state a 55% probability of losing with damages of ₹50 crore, but range could be ₹40–₹70 crore. Settlement discussions ongoing. How should the company account at year-end?Solution
Ind AS 37: provision required if obligation probable (>50%). Best estimate = most likely outcome; if no single most likely, use midpoint of range. Hence provision, not just disclosure.
Rahul spends 25% of his monthly income on rent and 15% on transport. If 30% of the rent is Rs. 2700 more than 20% of the transport expenses, find his mo...
A Motorbike can be purchased on cash payment of Rs. 30000. But the same Motorbike can also be purchased on the cash down payment of Rs 7000 and the rest...
A person spends 60% of his income. His income increases by 20% and his expenditure increases by 10%. If his new saving becomes Rs. 8100, then what was h...
Person X's earnings exceed Person Y's by 25%, and both individuals manage to save Rs. 2400 each. The ratio of Person Y's expenses to Person X's expenses...
The income of 'E' is Rs. 50,000 while the income of 'F' is 20% more than that of 'E'. The ratio of expenditure and savings of 'E' is 2:3, respectively. ...
The monthly salary of Ankita is Rs. 21,300, and Mamta's monthly salary is Rs. 12,000. The ratio of their monthly expenditures is 9:5, and the ratio of t...
If 80% of income of ‘P’ is equal to 50% of income of ‘Q’, then find the income of ‘P’ is how much percentage of income of ‘Q’.
...- The income of Neha is 60% more than that of Riya. If both spend 70% of their incomes, then what percent is the expenditure of Riya compared to that of Neha...
- Aman spends 80% of his monthly income and saves Rs. 3,000. Find his monthly income.
Kiran spends 15% of her salary on transport and one-fourth on rent. She saves 45% of the remaining amount, which is Rs.8100. Find Kiran’s total salary...
