Question
A substandard asset is such that it has remained in the
NPA status for a period of less than or equal to ____________ .Solution
A substandard asset is such that it has remained in the NPA status for less than or equal to 12 months. If the asset is in the substandard class for a period of less than or equal to 12 months, it is termed as a doubtful asset whereas a loss asset is such that it has been identified as being in loss by the bank or the external auditors or the RBI inspection team but the amount has not been written off completely from the books of the bank.Â
Within how many days should payment to an MSME supplier be made to allow it as an expense, for the computation of income under Income Tax Act?
U/s 208, it is obligatory for an assessee to pay advance tax where the tax payable is
GAAP stands for:
Which of the following is a key principle of the "Canon of financial propriety"?
The format of the Financial Statement of a company is prescribed in:
A company manufactures goods with normal loss of 5%. In one batch, due to worker negligence, loss rose to 12%. At what level should inventory be valued?
The Miller-Orr Model is used to manage:
____________ = (sales value – variable cost)/ Sales value
If the Opening Debtors were Rs.50,000 and Closing debtors are Rs.40,000, what effect will it have on the cash flow statement?
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