Question
A company takes a bank loan of ₹10,00,000 at 10%
interest. Interest for the year is ₹1,00,000. Where is interest shown in financial statements?Solution
Interest paid is often shown under operating or financing depending on policy; finance cost shown in P&L. (Under Ind AS many present interest paid under operating unless capitalized.)
Which of the following portals was recently launched by IRDAI for grievance redressal?
A fire loss incurred but not reported by balance sheet date is classified as:
In the absence of Partnership Deed, partners are entitled to:
Can micro and small enterprises (MSEs) benefit from GeM?
The delivery of goods by one person to another as a security for the payment of a debt is called__________.
Refer to the following information to answer the next 4 questions.
Under Ind AS 116, which of the following is true for lessees?
In case a company considers a discounting factor higher than the cost of capital for arriving at present values, the present values of cash inflows will...
Office equipment is a______________asset for a computer manufacturer and the same office equipment is a _____ ____asset for a company that deals in th...
Under the Expected Credit Loss (ECL) model, how are trade receivables without a significant financing component measured for impairment?
