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Profit and turnover
Accountancy
answered on 03-Aug-20 14:06
What is the difference between profit and turnover?
latest answer
Turnover is your total business income during a set period of time â?? in other words, the net sales figure. Profit, on the other hand, refers to your earnings that are left after any expenses have been deducted. Both profit and turnover in business measure earnings. But turnover measures them before taking out major costs. Profit is residual earnings after costs. You can also view it as the money your business gets to keep after reducing the net sales figures by all expenses.
Gomathi K
CA Final
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Banking companies
Accountancy
answered on 02-Aug-20 22:36
Is current CRR and SLR ratio need to be applied in exam or whatever there in study material ??
latest answer
The rates should be as per the amendments which are applicable for the attempt that you are writing exams.
anamika vardhan
CA Inter
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533
Banking companies
Accountancy
answered on 08-Aug-20 14:07
What is the percentage of profit to be transferred to statutory reserve 20% or 25% ??
latest answer
The percentages relevant for the exams would be as per the amendments applicable for the concerned exam the student writes. It is 20%
anamika vardhan
CA Inter
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3
565
Capital or Revenue expenditure
Accountancy
answered on 12-Aug-20 19:34
Amount spent to reduce working expenditure Is this capital or Revenue expenditure???
latest answer
Where is MTP for Aug-20? I could find only MTP for May-20.
Gowshika LT
CA Final
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10
597
As 4
Accountancy
answered on 02-Aug-20 14:37
Shouldn't the cutt off date be 31st March 2017 Why is it given 31st May 2017?
latest answer
K
Swathi Krishna
CA Final
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4
587
Admission of partner
Accountancy
answered on 05-Aug-20 07:15
Pg no: 8.62 Example Case 5 Question its stated as 1/3rd share but solved as A's sacrifice 1/5 Ã?2/3.. Even in video its solved as 1/5. Is it to be solved using 1/3 or 1/5.If 1/5 what's the reason?
latest answer
Thank you,Sir
Swetha S
CA Inter
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2
617
Liquidation of companies
Accountancy
answered on 01-Aug-20 14:58
In the illustration 5 of new icai book of advance accounting module 2 chapter 7 how did trade payables became 75,500 in liquidator's final statement?
latest answer
As it is given paid 75,000 less 2% and also outstanding expenses were settled for 2,000 Creditors including Outstanding expenses => 75,000 X 98% + 2,000 = 75,500
Amal Antony
CA Inter
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1
593
Consignment accounts
Accountancy
answered on 03-Aug-20 10:37
Goods sent on consignment is it a transaction or event??. As goods sent on consignment does not transfer it's ownership only possession is changed
latest answer
Thank you very much mam!!!
VIJAYA SARADHI MAGANTI
CA Inter
★ 850
6
797
Rectification
Accountancy
answered on 03-Aug-20 10:05
In the 11th video there are two cases opening and not opening a suspense a/c Sir told if the suspense A/c is opened then the Suspense A/c debited to sales . In the trial balance, sales will become 2000 but on debit side there is already 2000 and with debit of suspense A/c it will become 3000 SO EXPLAIN THIS
latest answer
Thank you
Prasanth Kumar
CA Inter
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4
536
Inventory
Accountancy
answered on 03-Aug-20 09:36
What adjustment should be made for point 5and why???
latest answer
Out of 8000 received 70% are sold, hence 30% is unsold which is adjusted to the stock (8000*30%= 2400) as they are included in value on 15th April
Gowshika LT
CA Final
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3
555