Question
Which nation was India's largest trading partner from
January to July 2024?Solution
During the period from January to July 2024, the United States remained India's largest trading partner, with bilateral trade exceeding $72 billion. This partnership is marked by significant exchanges in goods such as mineral fuels and pharmaceuticals, showcasing the robust economic ties between the two nations.
A company purchases an intangible asset (software license) for ₹20 lakhs, with a legal validity of 5 years and probable economic benefit of 8 years. A...
If a firm has been changing its depreciation policy every year, it is violating the_______ concept/principle of accounting.
A company buys a machine for ₹12,00,000 and expects to use it for 8 years with residual value ₹80,000. Under straight-line method, annual depreciati...
A machine was purchased for ₹1,00,000. Depreciation is charged at 10% per annum under the Diminishing Balance Method. The book value of the machine at...
A machine costing ₹8,00,000 has a salvage value of ₹80,000 after 10 years. The company follows Straight Line Method (SLM). During the 4th year, it s...
A company acquired a machine for ₹12 lakhs with an expected useful life of 6 years and residual value of ₹1.2 lakh. Using the straight-line method, ...
Machine cost ₹10L, useful life 5 years, scrap value ₹1L. Using sum-of-years-digits method, depreciation for year 2 = ?
A machine costing ₹4,00,000 has a useful life of 5 years with scrap value ₹25,000. The company provides depreciation on WDV at 25% p.a. After 3 year...
A machine costing ₹8,00,000 has a useful life of 5 years and scrap value of ₹50,000. Using WDV method at 30%, what will be the book value at the end...
A machinery costing ₹10 lakhs has a useful life of 5 years and a salvage value of ₹1 lakh. Using the straight-line method, the firm changes the usef...
Relevant for Exams:
