Question
What is the full form of MDR ?
Solution
Merchant Discount Rate is a charge or fee imposed on merchants by a bank for accepting payment from their customers in credit and debit cards every time a card is used for payment. According to recent RBI notification, from January 1 2018, small merchants (turnover upto Rs.20 lakh) will pay a maximum MDR of 0.40% of bill value and larger merchants (turnover greater than Rs.20 lakh) will pay 0.90%.
What is the net present value of the project with a 3-year life and a cost of ₹2,00,000 that generates revenues of ₹50,000 in year 1; ₹1,00,000 in...
GSTN is a -----------
Opening work in process inventory can be calculated as under
Which ICDS deals with Accounting Policies?
XYZ Ltd has the following financial data:
• Inventory Holding Period: 90 days
• Receivables Collection Period: 60 days
• Paya...
For the financial year ended 31st March 2023, the figures extracted from the balance sheet of ABC Ltd. are as under:
Opening stock 29,000 Closing...
IND AS 115 prescribes a 5-step model for recognition of revenue, identify the correct sequence of the following steps given below:
�...
Which of the following statements about the accrual basis of accounting is true?
A firm’s current ratio is 1.5:1 and quick ratio is 1.5:1. What does it suggest about inventory?
Under Section 194B of the Income Tax Act, 1961, any person responsible for paying any person any income by way of winning from any lottery or crossword ...
Relevant for Exams:
