Question
Deepak sells all his goods available in his shop at the
cost price, but he cheats on his customers and gives 25% fewer goods than he should give. Find his % profit.Solution
Deepak gives goods =25% less. 25% =1/4 Original goods =4 unit                 after cheat = 3 Deepak steals 25% of the goods i.e. he gives 3 units of goods instead of 4 units of goods and takes a profit of one unit. =1/3×100=33.33%.
A retailer holds seasonal fashion inventory purchased at ₹20 lakh. At year-end, expected selling price is ₹25 lakh, but estimated selling costs are ...
Fair value gain on equity instruments at FVOCI (no recycling) creates a temporary difference. How is deferred tax treated?
The portion of the uncalled capital, which can be called only at the time of winding up of the company, is known as:
XYZ Ltd. incurred R&D expenses of ₹20 lakhs for developing a new product. The product has not yet reached the commercialisation stage. How should the ...
The _________ generation used integrated circuits.
A person shall be eligible for appointment as an auditor of a company only if he is a _______________
According to the provisions of section 194B, every person responsible for paying to any person, whether resident or non-resident, any income by way of w...
If a purchase return of ₹1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ a...
The class of preference share, where the arrears in the dividends are carried forward and paid out of the profits of the subsequent years are called as:
Before the work of audit is commenced, the auditor plans out the whole of audit work is called _________.
