Question
A trader maintains accounts on cash basis and records
revenue only when received. Which fundamental accounting assumption is not followed?Solution
Accrual basis records revenues when earned, not when received.
What is the key objective of the Memorandum of Understanding (MoU) signed between the National Academy of Customs, Indirect Taxes and Narcotics (NACIN) ...
If the rate of increase in bauxite production is 21% from the previous year, what was the bauxite production in February 2023 (in thousand tonnes)?
In which city the beta live of ONDC launched?
- Which Indian state recently merged its health scheme with Ayushman Bharat PM-JAY?
Which two institutions signed an MoU for research in classical and quantum communications in India?
Which bank intends to launch two new variants of current accounts, one with a balance of ₹50,000 and another with a balance of ₹50 lakh & also plans...
On which date did IUCN adopt Motion 042 declaring fossil fuels a threat to nature?
What is the name of the memorial garden the Rajasthan Assembly is setting up to honor Kargil martyrs?
On which date World Neglected Tropical Diseases Day is observed annually?
What was cited as a symbol of India’s growing defence self-reliance in the 48th PRAGATI meeting?
