Question
When a company sells a fixed asset, the resulting gain
from the sale must be categorized appropriately in the financial statements. Understanding the nature of this gain is crucial for accurate financial reporting and analysis. Considering the classification criteria within the context of accounting standards, which of the following best describes the gain on sale of a fixed asset?ÂSolution
The gain on the sale of a fixed asset is considered an exceptional item because it is significant and unusual but related to the company's core operations. This classification helps distinguish it from regular operating income and expenses, providing clearer insight into the company's financial performance.
What is the risk weight for the housing loans with LTV Ratio (Loan to Value Ratio) lesser than 80%?
Price risk is the risk of a decline in the value of a security or a portfolio. How can one transfer price risk?
When was the RAMP Scheme commenced?
Which term describes the percentage of each sales rupee that remains after a company has paid for its goods?
Determine the Economic Batch Quantity (EBQ) for the following data:
Annual requirement of parts: 36,000 units
Inventory holding cost: 20% ...
Which of the following is not a type of Market risk ?
Which of the following banks were nationalized after being private banks in India?
1)Â Â Â Bank of Baroda
2)Â Â Â Punjab National B...
Cost or expenses must be recorded at the same time as the revenue to which they correspond is specified by which principle?
Which of the following schemes facilitates the easy availability of credit to exporters while also reducing risks associated with exports?
According to the Companies Act, which of the following statements accurately describes the rules regarding the issuance of shares at a discount?
