Question
Under the Arbitration and Conciliation Act, 1996, what
is the primary purpose of arbitration?Solution
Arbitration is a method of alternative dispute resolution (ADR) that provides a private and efficient way to resolve civil disputes. It allows parties to submit their disputes to one or more arbitrators who make a binding decision, known as an arbitral award. This process is an alternative to traditional litigation in court and is often chosen for its speed, flexibility, and confidentiality.
With respect to standard costing, which of the following statement is incorrect?
Under which of the following accounting systems, real & nominal accounts are ignored?
If an asset’s recoverable amount is less than its carrying amount, what is the correct treatment under Ind AS 36?
Which of the following section deals with deduction in respect of Interest on deposits in savings/FD account in case of resident senior citizens?
Which of the following reports must be mandatorily submitted by an insurer's statutory auditor to the IRDAI annually?
Which of the following is not regarded as Time adjusted or Discounted Cash flows technique of capital budgeting?
Which of the following Indian Accounting Standard (Ind AS), deals with the reporting and disclosure of contingent liabilities and contingent assets? �...
XYZ Ltd. buys software for ₹10 lakh, with a license period of 3 years. How should it treat this in books?
A machine was purchased on 1st April 2020 for ₹5,00,000. Useful life is 5 years with residual value ₹50,000. Depreciation is charged using written d...
CERSAI was established to prevent fraudulent lending transactions against equitable mortgages. What does the ‘S’ in CERSAI stand for?
