Question
A company records a contingent liability for a pending
lawsuit. As per accounting standards, which of the following is true about how it should be reflected in the financial statements?Solution
Contingent liabilities are not recognized in the books unless probable and measurable, but are disclosed in notes if possible (as per AS 29 or Ind AS 37).
In order to go to University, Prakash started from his house in the east of the town and came to a crossing. The road to the left ends in a theatre and ...
Select the option which is related to the fifth letter-cluster in the same way as the second letter-cluster is related to the first letter-cluster and t...
Select the figure that will come next in the following figure-series. Â
If 'green' means 'yellow', 'yellow' means 'white', 'white' means 'red', 'red' means 'violet', 'violet' means 'black'; then which of the following will b...
Select the figure that will replace the question mark (?) in the following figure series.
Ten people are sitting in two parallel rows 1 and 2. A, B, C, D and E are sitting in row 1 facing south, and V, W, X, Y and Z are sitting in row 2 facin...
In a certain code language, ‘greater than person’ is written as 476, ‘there is no greater’ is written as 8243, ‘no person is right’ is writt...
Select the option is related to figure D in the same way as figure A is related to figure B.
‘A # B’ means ‘A is the brother of B’.
‘A @ B’ means ‘A is the daughter of B’.
‘A & B’ means ‘A is the husband of B�...
A question is given followed by two arguments. Decide which of the arguments is/are strong with respect to the question.
Question:
Shoul...
