Question
A company acquired a machine for ₹12 lakhs with an
expected useful life of 6 years and residual value of ₹1.2 lakh. Using the straight-line method, the company charged full year depreciation even if purchased mid-year. What accounting assumption is violated?Solution
Charging full depreciation without matching it with actual usage violates the matching concept, which requires cost allocation to the period of benefit.
RBI asked banks to stop offering teaser loans. What are teaser loans?
Presently, Jai Kumar Garg is the CEO and MD of ___________
Scheduled Banks in India refer to those banks which have been included in the _______ Schedule of Reserve Bank of India Act, 1934.
What is the capital of Uzbekistan?
In 1921, three Banks were merged into one Bank i.e, Imperial Bank. They are:
ISRO signed a technology transfer agreement with HAL for production of which launch vehicle?
For which of the following reasons, NABARD has set up joint liability groups (JLG) of farmers?
The First White Label ATM was set up by
What does an 'Overdraft' facility in banking imply?
Exim Bank was established in the year
