Question
During the financial year 2023-24, A had cash sales of
₹3,90,000 and credit sales of ₹1,60,000. His expenses for the year were ₹2,70,000, out of which ₹80,000 is still to be paid. Find out Ashok's income for 2023-24 following the Cash Basis of Accounting.Solution
Under the Cash Basis of Accounting, only cash inflows and outflows are considered. A's cash income is calculated by subtracting the actual cash expenses (₹1,90,000) from the cash revenues (₹3,90,000), resulting in a net income of ₹2,00,000.
Which of the following entities is primarily responsible for issuing Aadhaar-enabled Payment System (AePS) services?
Which organization is primarily responsible for ensuring financial inclusion in India?
Consider the following statements about Bonds:
1. Bonds are units of corporate debt issued by companies and securitized as tradable assets.
...Which factor is NOT typically considered in calculating an individual's credit score?
Which of the following global e-commerce company becomes world's first listed firm to lose $1 trillion in market cap?
What dividend per share did SBI declare for FY 2024–25?
The main objective of _______ is to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international...
Scheduled Banks in India refer to those banks which have been included in the ______ Schedule of Reserve Bank of India Act, 1934.
which of the following was the last country to join the World Bank?
Which of the following is the first Indian bank to have been started solely with Indian capital that survives to the present?
