Question
An Indian exporter receives a payment of USD 50,000 when
the exchange rate is ₹83/USD. At the year-end, the rate drops to ₹80/USD and the amount is still held in the foreign currency account. How is this treated under Ind AS 21?Solution
The drop in value results in an unrealised exchange loss, which must be recorded as per Ind AS 21.
What is the primary purpose of classifying PSUs into categories like Maharatna, Navratna, and Miniratna?
Mission for Integrated Development of Horticulture (MIDH), cold storages are sanctioned by State & Central level committees. What is the eligible cold s...
India participated in the ITU’s WSIS+20 Forum High-Level Event and ‘AI for Good’ Global Summit from 27 to 31 May 2024. Which organization(s) co-h...
As per the information by the Director General of Commercial Intelligence and Statistics (DGCIS), the share of export of MSME Specified products in all ...
As per RBI guidelines, ‘Bulk Deposit’ in the case of RRBs mean a Single Term Deposit of _______ and above.
Which of the following Statements about Multiplier Effect is/are True?
I- When the government spends a rupee, overall income rises by a multiple ...
Which of the following is not one of the five PVTGs of Andaman & Nicobar Islands?
How many kilometers of inland waterways will be built to navigable waterways and strategic locations on key international maritime trade routes?
Under Ayushman Bharat –Health and Wellness Centres (AB-HWCs), what healthcare services are provided free of cost to all citizens of the country?
Consider the following Statements.
(i) As part of AtmaNirbhar Bharat Abhiyan stimulus package, the Department has launched Animal Husbandry in...
