Question
The convention of Prudence when applied to the balance
sheet resultsSolution
The convention of prudence, also known as the principle of conservatism, is an accounting principle that requires businesses to err on the side of caution when recording financial information. This means that businesses should not overstate assets or profits, and should instead take a conservative approach by understating assets and profits. When applied to the balance sheet, the convention of prudence results in the understatement of assets and the overstatement of liabilities. This is because businesses are required to record assets at their historical cost, even if the fair value of the assets has increased. Additionally, businesses are required to record liabilities at their present value, even if the future cash flows associated with the liabilities are uncertain
Any offence committed under SEBI Act which is triable by a Special Court shall, until a Special Court is established, be taken cognizance of and tried by
All documents, other than Will should be presented within______ from the date of execution.
An Inchoate Instrument is:
Contingent contracts to do or not to do anything if an uncertain future event does not happen can be enforced__________________
A disputed handwriting can be proved_______
Can a decree be transferred to another court for Execution?
According to section 96 of the Companies Act the annual general meeting of an unlisted company may be held at any place in India if ________________
A school teacher, with a view to maintain discipline, punishes a ten years’ student with simple punishment.
Which of the following is the main body of United Nations Organisation?
In which of the following offences, the element of mens rea is required to be proved?
Relevant for Exams:
