Question
A lessee signs a 6-month lease of office space with no
renewal option. Should it apply Ind AS 116 lease accounting?Solution
Short-term leases (≤12 months) can use exemption → expense as incurred instead of recognising RoU asset and liability.
What is the speed of a train?
Statement I: The train crosses a pole in 10 seconds.
Statement II: The length of the train is 240 metres.<...
P, Q and R together invested an amount of Rs. 55,000 in the ratio of 5:2:4 for different period of time. What was the amount of profit earned by...
What is the principal?
I. The simple interest obtained on the principal after 2 years at 16% rate of interest is Rs 140.8 less than the compound ...
By selling a product for Rs 540 how much profit was earned?
I. 25% profit would have been earned if it had been sold for Rs 450.
II. The p...
Jolly borrowed some money at compound interest for 4 years. What will be the amount required to return after 4 years?
Statement I: If the amount...
The ratio between the present ages of the Mohit and Rekha is 2:3. Find the present age of the Rekha.
I: Difference between the present ages of th...
In how much time can Pipe C empty the tank? Statement I: Pipes A and B can fill half the tank in 6 hrs 30 minutes. Statement II: Together with empty...
The question consists of two statements numbered “I and II” given below it. You have to decide whether the data provided in the statements are suffi...
A man invested a sum of Rs 25,000. He invested some part at 5 % p.a. and remaining at 5.5% p.a. How much money did he invest at 5 % p.a.?
Statem...
How many boys are there in the class?
I. The number of girls is 30% of the number of boys.
II. The ratio of the number of boys to that of girls is 3:5.
