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Advance payment of tax is classified as a prepaid expense. This is because it represents an expense that has been paid in advance and will benefit the company in future periods when the tax is due. Prepaid expenses are recorded as current assets on the balance sheet until the benefit is realized, at which point they are expensed on the income statement.
Who is the only Indian to have won a gold medal at the Archery World Cup Final?
Which cooperative bank was penalized ₹3 lakh by the RBI for sanctioning loans beyond permissible limits and without required collateral?
Which dynasty was Parantaka I associated with?
Vienna has been named the most liveable city for the third consecutive year in the recently released 'Global Liveability Index 2024.' Which organization...
What is the purpose of the 'Floodwatch' app launched by the Central Water Commission, which provides flood forecasts and risk assessment for different r...
According to the data provided by the Reserve Bank of India (RBI), the pace of credit offtake continued to be robust in June 2023. The outstanding credi...
Who has been appointed as the chief selector of the Indian men's cricket team?
Central Government approved the purchase of how many HTT-40 Basic Trainer Aircraft?
Consider the following statement about “Atmospheric Waves Experiment (AWE)”.
1. NASA launch the Atmospheric Waves Experiment (AWE) to study...
The first Indian who won a medal in World Athletics Championship is_____.