Question
As per Section 42, what kind of damages may the LLP
recover from a wrongful act committed by a partner?ÂSolution
Section 42 states that LLP can recover actual damages caused by wrongful acts of partners [Section 42].
What is the maximum amount of exemption that is allowed for gratuity if received at the time of retirementby an employee covered under Payment of Gratu...
Selling price = â‚ą100/unit, Variable cost = â‚ą60/unit, Fixed cost = â‚ą4,00,000. Sales = 12,000 units. Calculate sales amount if the desired profit is...
The Reserve Bank of India has made the implementation of the Risk-Based Internal Audit (RBIA) framework compulsory for which of the following institutions?
A firm uses straight line for depreciation. It revises useful life from 10 to 5 years at midpoint (after 5 years) with no salvage. Effect on annual depr...
A firm has increasing profits but declining cash flows. The management claims business is doing well. What should an analyst examine to validate the claim?
When the liquidation expenses are paid and borne by the transferee company, which of the following entry is made in the books of transferor company?
With respect to AS: 16 (Borrowing Costs), which of the following statement is incorrect?
A trucking company purchases a delivery truck for â‚ą12,00,000. It expects the truck to deliver 3,00,000 km over its life and have a salvage value of ďż˝...
The section of the companies Act, 2013 which contains provisions regarding remuneration of the auditor is:
 Generally, Internal Auditor is not appointed by:
