Question
Which base year is used for the calculation of GDP in
India currently?Solution
Currently (as of January 2022), the base year being used for estimating GDP is 2011-12 This current base year ‘2011-12’ is due for revision as the base year is to be revised every 5 years. However due to abnormal incidents in past few years, including demonetisation, GST introduction, COVID, the base year has ot been revised till date.
A company buys a machine from the US at $50,000 when $1 = ₹70. On balance sheet date, $1 = ₹75. How is this change treated?
Which of the following is an example of capital expenditure?
The Objective of ______ is to ensure that appropriate recognition criteria and measurement bases are applied to provisions and contingent liabilities an...
If Selling Price is 9 per unit, variable cost is 5 per unit and fixed cost is 100000, what is the Margin of safety in Qty if the budgeted units are 1,00...
What is the maximum cost of the project/unit allowed under PMEGP for 2nd loan in the manufacturing sector (for upgradation)?
As per General Financial Rules, 2017 who has been given full powers to make their own arrangements for procurement of goods and services, that are not a...
Which of the following accounting standards deals with "Net Profit or loss for the period, prior period items and changes in the Accounting Policies"?
Ind AS 7 deals with which of the following:
On dissolution, A’s capital = ₹50,000, B’s capital = ₹30,000. Cash realised = ₹60,000. Creditors = ₹20,000. Loss on realisation is shared eq...
Deduction in respect of royalty income of authors under Chapter VI is allowed under Section:
