Question
A company purchases an intangible asset (software
license) for ₹20 lakhs, with a legal validity of 5 years and probable economic benefit of 8 years. As per accounting principles, over what period should the asset be amortized?Solution
As per Ind AS 38, an intangible asset should be amortized over the shorter of legal or economic life. Here, 5 years is the legal life and hence becomes the amortization period.
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
