Question
The price of a commodity rises by 20% in the first year
and an additional 15% in the second year. If the initial price was ₹2,000, what will be its price after two years?Solution
Price of commodity after 1 year = 120% of 2000 = 2400 Price of commodity after 2 years = 115% of 2400 = 2760
A bill of exchange was accepted by the drawee and later discounted by drawer with bank. On maturity, the drawee defaulted. Who is liable?
A negotiable instrument as per the Negotiable Instruments Act, 1881 includes:
If revenue from operations is Rs.60,00,000 Gross Profit ratio is 60%, Operating expenses are Rs.4,00,000 and Income tax rate is 30%, what will be the op...
Mr. Arvind drew a bill of exchange of ₹1,00,000 payable after 3 months on Mr. Rohit, who accepted the bill. Before maturity, Mr. Arvind endorsed the b...
Which of the following is an example of transaction in money under GST laws
Which accounting standard governs the treatment of inventories in India?
A bill of exchange drawn on 15th March for 2 months will mature on:
The person in whose Favor a bill is endorsed is called:
The party who is entitled to receive the payment of a bill of exchange is called the:
Accounts relating to income, revenue, gain expenses, and losses are termed as:
