Question
Closing stock is valued at the oldest stock price in
which among the following methods of valuation of inventory?Solution
Under LIFO method, the materials purchased last are to be issued first when material requisition is received. Closing stock is valued at the oldest stock price.
A budget that starts with the assumption that all departmental budgets are zero and requires justification for every expense is known as:
TDS (Tax Deducted at Source) is a mechanism for:
A Treasury Bill (T-Bill) is a:
Which organization sets the GAAP standards in India?
Which Ind AS deals with Revenue from Contracts with Customers?
XYZ Ltd. presented the following summary for the year ended 31st March 2024: Net Profit before tax ₹18 lakh, depreciation ₹2 lakh, gain on sale of f...
Which of the following is not a cash equivalent?
Company A takes over Company B on 1st April 2024. The Balance Sheet of Company B shows the following:
• Share Capital: ₹10,00,000 (1,00,000 s...
What is the maximum cost of the project/unit allowed under PMEGP for 2nd loan in the manufacturing sector (for upgradation)?
A company uses Raw material A to manufacture finished goods, price of the raw material A is on the decline. The finished goods in which the raw materia...
