Question
Under Phase 2 of the revised CTS process, if a cheque is
presented between 10:00–11:00 AM , by when must the drawee bank confirm honour/dishonour before it is deemed approved?Solution
Explanation: Phase 2 mandates that confirmation must be sent within 3 clear hours after the end of the hour of receipt. Thus, for a cheque presented during 10–11 AM , confirmation is due by 2 PM ; else it is deemed approved at that slot.
Calculate cost of goods sold from the following figures:
Opening stock = Rs. 3,500
Purchases = Rs. 21,000
Closing stock = Rs. 2,500
Which of the following statements about a Ceding Company in insurance is true?
ABC sports material manufacturing company budgeted the following data for the coming year:
Sales (1,00,000 units) = ₹1,00,000
Variable c...
Which of the following statement is not true with regards to a bearer plant as per IND AS 16:
For an Asset Reconstruction Company (ARC), after how many days of overdue does a receivable get classified as a Non-Performing Asset (NPA) in its books?
Which section deals with TDS on cash withdrawals?
When a bank chooses the wrong strategy or follow a long-term business strategy which might lead to its failure, it is called
Goodwill is considered as:
Read the following information to answer the below questions:
What is the primary function of the National Payments Corporation of India (NPCI)?
