Question
What is the underlying accounting concept that supports
no anticipation of profits but provision for all possible losses?Solution
The conservatism principle requires that accountants and financial managers should be cautious in their approach to recognizing and reporting financial transactions. It emphasizes that companies should be conservative in their assessment of their financial position and should not anticipate profits until they are realized.
Jaspreet and Ishaan invested in a business in the ratio 3 : 7. If 10% of the total profit goes to charity and Jaspreet’s share is Rs. 81270, the tota...
Which of the following feature/s is/are not associated with “Labour movements in Pre-Independence Era”?
I.The movements in this era mainly co...
Consider the following statements regarding Bonds and Debentures:
1. Bonds are debt financial instruments issued by large corporations, financi...
What is the assistance to be given to the elderly, per person per month, after the age of 60 years, under the ‘Jiyo Parsi’ Scheme with effect from 2...
In the given analogy, choose the word which will replace the question mark:
NEGI : MVTR :: SING : ?
Which one of the following is not a female reproductive organ in humans?
The Ramappa temple of LOrd Shiva was built by which dynasty?
Which of the following statements are correct in regards to Gaganyaan Mission?
- India’s 1st human space mission to be l...
In a rectangular floor of length and breadth of 15 metres and 9 metres, respectively, square tiles each of 3 metre edge length are to be laid. If the co...
Which of the following gases is used in refrigerators?
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