Question
Which is used to determine the actual cash value of
property at time of loss?Solution
Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for declines in value. Businesses depreciate long-term assets for both tax and accounting purposes. For tax purposes, businesses can deduct the cost of the tangible assets they purchase as business expenses; however, businesses must depreciate these assets according to IRS rules about how and when the company can take the deduction
If the profit is 25% of the cost price, then it is:
An implied contract is created by the:
The new concept of One Person Company (OPC) introduced by the Companies Act, 2013 provides that OPC should be registered as a _____________ type of com...
Commuted pension, exempt for other than government employees (who do not receive gratuity), is under section _______.
Match the following columns regarding the posting of Profit and Loss Account items.
A company pays insurance premium of ₹24,000 for 12 months in advance in March 2025 for the period January 2025 to December 2025. The accountant record...
The person responsible for paying any income by way of winnings from lottery an amount exceeding ₹ 10,000, shall deduct
Which GFR (2017) rule is applicable for GeM?
What is a primary condition under RBI guidelines for REs when onboarding non-resident customers with limited KYC documentation?
ICDS IV primarily deals with which aspect of financial reporting
