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Nature and extent of surety liability
Corporate & Other Laws
answered on 28-Jan-21 09:57
Debtor had to repay loan of 5 lakh and 50,000 interest. He defaulted. The surety had limited his liability to 5 lakh and he paid that amount to creditor. Now, the creditor cannot ask for interest from surety. But can he ask for interest from the debtor?
latest answer
Yes!
Aman Mahajan
CA Final
★ 19K+
1
907
Marginal cost
Costing
answered on 28-Jan-21 17:32
How to approach
latest answer
Difference of old and new PV ratio = 7% => decrease in sales Revised sales = 10,00,000 - 7%(10,00,000) = 9,30,000 New MOS = 40% => Sales X 40% = Sales-BEP = BEP = 60% of Sales Revised BEP = 5,58,000 Fixed cost = BEP X PV ratio => (60% X sales) X PV ratio = 18% X sales Revised Fixed cost = 1,67,400
Deepak Thinu
CA Inter
★ 390
1
680
Going concern
Accountancy
answered on 27-Jan-21 17:21
Why is Joint venture an exception to the going concern concept?
latest answer
If it is formed for a specific purpose, it will not continue forever.
Aman Mahajan
CA Final
★ 19K+
1
596
Sampling
Auditing
answered on 28-Jan-21 13:23
How can i distinguish block &stratified sampling?
latest answer
Blocks and strata are different. Blocking refers to classifying experimental units into blocks whereas stratification refers to classifying individuals of a population into strata. The samples from the strata in a stratified random sample can be the blocks in an experiment.
Santhosh kv
CA Final
★ 2K+
1
705
ROC - Late Fees
Corporate & Other Laws
answered on 27-Jan-21 16:09
Hi Sir How adjust the amount paid towards expense for delaying in filing ROC firms ? It can taken as expense ?
latest answer
Thank u .
Balamurali Unnithan M S
CA Inter
★ 3K+
2
694
Rough work
Maths & Stats
answered on 27-Jan-21 12:13
For Rough work, outside papers are not allowed! But hall ticket is allowed, so we can do rough work in back side of that! What If i take two copies of my Hall tickets and do rough work in that? Will they allow?
latest answer
Ok bro
Meda Jeevansai
CA Final
★ 21K+
2
685
Prior to incorporation
Accountancy
answered on 27-Jan-21 18:11
In illustration 4, Here debenture interest is charged to post incorporation period. But debentures were issued to settle purchase consideration of vendors which was due in both pre and post period. Why is it not distributed in that ratio?
latest answer
Interest on debenture is a post incorporation expense
Aman Mahajan
CA Final
★ 19K+
1
539
Director remuneration
Corporate & Other Laws
answered on 29-Jan-21 23:09
Director remuneration is treat as salary to directors on preparation of financials of a company . Means we use salary to directors instead of director remuneration .
latest answer
Ok sir
Balamurali Unnithan M S
CA Inter
★ 3K+
10
612
SFT
Direct Taxation
answered on 28-Jan-21 18:56
On the preparation of financials & tax audit report , its mandatory report SFT in tax audit report , ie , in 3CB / 3 CD
latest answer
Okei ...thank u
Balamurali Unnithan M S
CA Inter
★ 3K+
13
625
Company
Direct Taxation
answered on 28-Jan-21 13:35
What's the difference between Domestic Company and Indian Company?
latest answer
S. 2(22A) says "domestic company" means an Indian company, or any other company which declares and pays dividend from taxable income withing India S.2(26) says Indian company is registered under the Companies Act, 1956 and the principle office is in India. All Indian Company are treated as Domestic Company but all Domestic Company are not Indian Company. If a Foreign Company makes prescribed arrangements for payment of dividends in India it shall be treated as Domestic Company.
Priyanka Udeshi
CFA L1
★ 14K+
2
835