Question
Which of the following involves an expenditure that is
initially recognized as an expense but is expected to provide benefits in future accounting periods?Solution
Deferred revenue expenditure is initially recognized as an expense but is amortized over future periods because it provides benefits over the long term. This treatment ensures that the cost is spread across the periods it benefits.
Tim spends 22% of his monthly income in travelling. He spends 25% of his monthly income on household expenses and spends 36% of his monthly income on fa...
P spends 26% of his salary on transportation, 24% on food, 22% on children’s education and 19% on medical. He deposits the remaining amount of Rs....
Monthly income of A is Rs. 85000 out of which he spent 25%, 18% and 24% of his total income in rent, medicine and transportation, respectively. Find his...
A person marks his goods 40% above the cost price. He sold 30% of goods at marked price, 60% of the remaining at a discount of 20% and remaining at 40% ...
Monthly income of Eric and Olivia is Rs. 71,200 and Rs. 78,500 respectively. Eric spends 9%, 16%, and 18% on house rent, food, and education of children...
- Each year, the population of a village rises by 8%. If after 2 years the population will reach 34,992, what is the population now?
The income of ‘A’ increases by 20% every year. If his income 3 years hence from now will be Rs. 62208, then find his income a year before from now.<...
In a two-candidate city council election, 40% of the votes were found invalid. From the valid votes, 60% went to the winner, who led by 1,200 votes. Fin...
In a survey conducted in a locality, it was found that 50% read newspaper A, 40% read newspaper B, and 20% read neither A nor B. If the number of person...
In a college, 70% of the students opted for cultural activities. Among those, 50% participated in music events and the remaining 105 students took part ...
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