Question
Two primary qualitative characteristics of financial
statements areSolution
Relevance means that the information presented in the financial statements is useful and pertinent to the users' decision-making needs. It should have predictive value, confirmatory value, or both. Reliability means that the information in the financial statements is accurate and trustworthy. It is free from errors, bias, or misrepresentation, and is verifiable through independent sources.
The income ratio of Aman to Qureshi is 5:7. Both individuals save ₹900 each. If the ratio of their expenditures is 7:11, determine Qureshi's total exp...
Who is considered a part of an insured person's family?
I. Spouse only
II. Minor legiti...
Income and Expenditure Account is
Jaspreet and Ishaan invested in a business in the ratio 3 : 7. If 10% of the total profit goes to charity and Jaspreet’s share is Rs. 81270, the tota...
A person purchased diesel at Rs. 6, Rs. 9 and Rs. 10 per litre in three successive years. If he spent Rs. 4500 each year on diesel, then find the approx...
Which organization releases 'World Investment Report' every year?
An observatory ‘Vedh Shala’ or Jantar Mantar was built in the 18th century by which ruler of Ujjain?
How many participants from India won the gold medal in the 14th International Olympiad on Astronomy and Astrophysics (IOAA) 2021?
‘A’ and ‘B’ can complete a certain work in 15 days and 12 days, respectively. They started working together and worked till completion of the wo...
Which of the following statements probably do not reflect the federal spirit of the constitution?
1. The property of the centre in the states c...
