Question
Among the following assets, which one is not subject to
depreciation over time due to its nature of not wearing out or diminishing in value?Solution
Land does not depreciate because it typically does not decrease in value over time and does not wear out or get used up, unlike tangible assets like buildings and vehicles.
As per taxation terminology, Income of a particular year is taxable in the immediately following year. Immediate following year is called as ………�...
With respect to Job Costing, which of the following statement is incorrect?
Calculate the inventory turnover ratio:
Following information has been provided by a contractor for the year ending 31-3-2020.
(a) Total expenditure till 31-3-2020 is Rs. 5,000.
...
During the year 2016-17, the profit of the business before charging manager's commission was Rs. 1,89,000. If the manager's commission is 5% after charg...
OPC (One person company) shall file a copy of the duly adopted financial statements to the Registrar in _________.
Which of the following is not a mandatory financial statement of a General Insurance Company as per IRDA regulations?
V Ltd. sells Customer C a water purifier and maintenance service for 2 years for a total consideration of Rs 20,000. As per IND AS 115, determine how m...
Which of the following transactions is revenue expenditure?
Premium income for the year is ₹240 crore, evenly earned. As at year-end, unexpired risk is 50% of premium. Calculate UPR to be carried forward.
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