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Asset
Accountancy
answered on 03-Dec-20 09:12
Plse give example f point
latest answer
If a company has incurred some development expenditure for intangible asset but at a later point of time realises that the intangible will not yield benefits, the development expenditure will be expensed.
Nivetharaman Raman
CA Foundation
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1
578
Revenue Expenditure or Capital Expenditure
Accountancy
answered on 03-Dec-20 09:26
Money spent to reduce working expenses is ... As per ICAI Module, it is capital expenditure. And as per ICAI Mtp Nov 2020, it is revenue expenditure. What's the correct answer?
latest answer
This is generally a capital expenditure.
Aman Mahajan
CA Final
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Balance sheet
Accountancy
answered on 03-Dec-20 09:13
Is it necessary to follow order of permanence or liquidity in the balance sheet (in exam). Can we list the items randomly?
latest answer
Try to follow to the extent possible.
Aman Mahajan
CA Final
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1
590
Branch or component auditor is not obliged to share his audit programme/documentation/working papers with principal
Auditing
answered on 03-Dec-20 11:23
Is this Statement correct? Which SA governs this?
latest answer
Thank you sir
Kumarjit Dey
CA Inter
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2
728
139(8) - filing of Casual Vacancy in case of Resignation
Auditing
answered on 03-Dec-20 09:27
As per 139(8), If Casual Vacancy is as a result of the resignation of an auditor such appointment shall also be approved by the company at a General Meeting convened within 90 days after Recommendation of the board and he shall hold office till the conclusion of the next Annual General Meeting. Who is this "he" being talked about? The newly recommended and appointed auditor, right?
latest answer
Auditor
Kumarjit Dey
CA Inter
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608
CAG may appoint anyone
Auditing
answered on 03-Dec-20 09:27
Who it deems fit for the purpose of audit? So he need not necessarily be a CA? Could be CMA, or just another accountant?
latest answer
Provisions of Qualification/disqualifications are applicable.
Kumarjit Dey
CA Inter
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1
721
Normal Loss and Abnormal Loss
Accountancy
answered on 13-Sep-22 16:49
Raj of Gwalior consigned 15,000 kgs of Ghee at Rs. 30 per kg to his agent Siraj at Delhi. He spent Rs. 5 per kg as freight and insurance for sending the Ghee at Delhi. On the way 100 kgs. of Ghee was lost due to the leakage (which is to be treated as normal loss) and 400 kgs. of Ghee was destroyed in transit. Rs. 9,000 was paid to consignor directly by the Insurance company as Insurance claim. Siraj sold 7,500 kgs. at Rs. 60 per kg. He spent Rs. 33,000 on advertisement and recurring expenses. In this question, how will the value of abnormal loss be calculated? Will normal loss be deducted first or abnormal loss?
latest answer
Yes
Aman Mahajan
CA Final
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6
4K+
Doubt
Economics
answered on 10-Dec-20 02:07
What is the answer for this question please state with reason
latest answer
Answe is B Here the budget constraint of a consumer with an income of 900 is given. From this we can understand that it can buy x quantity of ice cream and y quantity of chocolate. Now in diagram on Y axis quantity of chocolate is plotted and also mentioned that it can buy 90 quantities with budget of 900 so the price of choclate is 10 and Sane with ice cream
Sri kanaga Varshini
CA Final
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2
713
What does statement 1 mean to say
Auditing
answered on 03-Dec-20 09:30
I cannot follow can you please explain (pfa)
latest answer
The letters from third party and letters which could not be delivered to third parties have to be returned to auditor. Basically the from address should be that of auditor.
Kumarjit Dey
CA Inter
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1
698
Public company
Corporate & Other Laws
answered on 03-Dec-20 09:30
Is a public company after becoming subsidiary of a private company considered as a private company?
latest answer
No.
Punitha Krishnaraj
CA Final
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619