Question
In preparing financial statements in accordance with the
Schedule III of the Companies Act 2013, it is crucial to correctly classify various items to ensure compliance and accuracy in reporting. The provision for taxation, must be categorized appropriately. Under which heading should the provision for taxation be classified as per Schedule III of the Companies Act 2013?Solution
As per Schedule III of the Companies Act 2013, the provision for taxation is classified under "Short term provisions." This is because it represents a liability that the company expects to settle within its normal operating cycle or within one year, aligning with the definition of short-term provisions.
Arhar (pigeonpea) is commonly known asÂ
Which one of the following techniques is used to monitor crop health?
The time of discharge of eggs from the Graffian follicles (Ovulation) in cow is about ___ hours after the end of 18 hours estrus.
The process of leaching calcium carbonate from soil is termed:
How much of rainfall quantities is required in a day of 24 hours to call it a rainy day?
Asia’s largest 4 meter International Liquid Mirror Telescope was unveiled at Devasthal, Uttarakhand. The ILMT employs a rotating mirror made...
Which among the following agency is responsible for procurement, distribution and storage of food grain production in India?
Supply chain mapping is the study of ...................................?
Which of the following is a floating weed?
National Centre for Organic and Natural farming is located at ____