Question
Fixed assets and current assets are categorized as per
concept of:ÂSolution
The classification of assets into: • Fixed assets (used for long-term, not meant for sale) • Current assets (cash or expected to be converted into cash within a year) is based on the Going Concern Concept. Going Concern Concept assumes that the business will continue operating for the foreseeable future. Because of this assumption: • Assets are classified based on how long they will be used. • Fixed assets are shown at cost (less depreciation), not liquidation value. • Current assets are expected to be realized in the normal course of business. Other options: • Separate Entity → business is separate from owner. • Consistency → use same methods year to year. • Money Measurement → record only monetary items.
Sale of Rs.50,000 to ‘A’ was entered as a sale to ‘B’. This is an example of –Â
Which among the following can be considered as a part of the Secondary Market?
________________ is authorised to issue and encash the electoral bonds, which are valid for fifteen days from the date of issuance.
Local currency account maintained by a local bank for a foreign (correspondent) bank is called-
Which of the following statement is NOT correct -
RBI recently imposed several restrictions on Indian Mercantile Cooperative Bank Ltd. including a cap of Rs 1 lakh on withdrawals. The Indian Mercantile ...
Which of the following is a ratio used to know the solvency of a business?
Goods and Services Tax in India is a tax based on which criteria?
The 2024-2025 cycle of the global AI Safety Summit (AI Seoul Summit) was hosted in which country?
The process by which market participants try to find an equilibrium price?Â
Relevant for Exams:
