Question
While storing non-perishable items in the Dry food store
which one of the following is INCORRECT?Solution
The correct answer is A
GOODS DESTROYED IN FIRE . THE JOURNAL ENTRY WILL BE
A. PURCHASE DR.
     TO LOSS ON FIRE A/C
B. LOSS IN FIRE A/C D...
This kind of audit is conducted generally between two annual audits is known as which among the following?
ABC Ltd. records a lease as an asset and a corresponding liability in its books under Ind AS 116. The company uses this asset in operations and deprecia...
In the context of banking, what does the term "KYC" stand for?
A Credit Note is the basis for recording a transaction in which of the following?
Under Ind AS, when an entity adopts revaluation model for property, plant & equipment:
IRR is the rate at which:
Refer to the following information to answer the next 4 questions.
During a reporting period, a company’s assets increase by Rs. 80,000,000. Liabilities decrease by Rs. 20,000,000. Equity must therefore?
If nothing is given in the financial statements about the three accounting assumptions, then it is to be treated as it
