Question
An enterprise follows accrual basis of accounting and
records revenue when it is earned and expenses when incurred. A client makes an advance payment of ₹1,00,000 for goods to be delivered next quarter. How should this transaction be treated in the books?Solution
Since the goods are not yet delivered, the amount cannot be treated as revenue. It’s a liability until the revenue is earned.
If ‘R @ S × T ÷ U × V’ is true then how is S related to V?
In expression I @ P % K $ O @ G # N % F, how is P related to F’s sister?
P + Q means ‘P is the brother of Q’, P - Q means ‘P is the daughter of Q’, P ÷ Q means ‘P is the husband of Q’, P × Q means ‘P is the so...
If R ÷ S + T + U, which of the following is true?
If "I & J # S % O * D & L @ N" is definitely true, then how is O related to J?
- Answer the following question based on the direction given below.
If 'A $ B' means 'A is the father of B'
'A @ B' means 'A is the brother o... 'A @ B' means 'A is the father of B'. 'A & B' means 'A is the son of B'. 'A β B' means 'A is the daughter of B'. 'A # B' means 'A is married to B'. 'A ...
'A % B' means 'A is the father of B'.
'A @ B' means 'A is the spouse of B'.
'A $ B' means 'A is the mother-in-law of B'.
'A & B' me...
If A # B means A is brother of B, A $ B means A is husband of B, A % B means A is mother of B, A @ B means A is daughter of B, then which of the followi...
If G – I + H, which of the following statement is true?
