Question
Provision for Bad Debts is required to be maintained in
the books as per which principle?Solution
Conservatism principle states that Record for the anticipated losses and Expenses. Example-Provision for Doubtful debt - The debtors have not defaulted yet, but if you are anticipating a default in the future, record it as an expense now. Also, Valuation of Inventory is done at Cost or Net Realizable Value, whichever is less.
Time limit for filing written statement is 30 days which may be extended up to 90 days shall be counted from:
Which of the following decisions of the Board can be taken only after consent of the company through a special resolution as stated under section 180 of...
What is the composition of a Permanent Lok Adalat established for an area as per the Legal Service Authorities Act?
A desires, a court to give judgment that he is entitled to certain land in the possession of B or basis of certain facts. Which 'B' denies to be true un...
Which of the following statements is not correct?
Where a cheque is crossed specially to more than one banker, except when crossed to an agent for the purpose of collection_____________________
In the context of vicarious liability, which of the following statements is true?
Under professional communications under s. 126 of the Indian Evidence Act, 1872, who all are covered?
Arnab draws a picture of Rechal running away with Yogita’s watch, intending it to be believed that Rechal stole Yogita's watch. This is:
Which of the following is not covered under goods as per Consumer Protection Act 2019?
