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NCB is given to the insured and not to the insured vehicle. Hence, on transfer of the vehicle, the insurance policy can be transferred to new owner but not the NCB. The new owner has to pay the difference on account of NCB for the balance policy period.The original owner can, however, use the NCB on a new vehicle purchased by him.
All of the following are capital receipts, except ________
A service shall be a continuous supply of service agreed to he provided continuously or on recurrent basis under a contract when the period of service e...
In accordance with Ind AS 2, explain how the item should be measured:
One of Company's product lines is beauty products, particularly cosmetics s...
According to IND AS 115, when can revenue be recognized?
Mr. Bhandari purchased a car for 50,000, making a down payment of 10,000 and signing a *40,000 bill payable due in 60 days. As a result of this transact...
The rule for nominal accounts is
Which of the following appears under the heading 'Reserves & Surplus' in the balance sheet?
At the end of the accounting year, all the nominal accounts of the ledger book are:
Renting of immovable property is
As per the Union Budget 2024-25, the Long-Term Capital Gains (LTCG) tax rate under sections 112A and 112 has been revised to _____