Assertion (A): Personal transactions of the owners of the business are not recorded in the books. Reasoning (R): According to the business entity concept, each business enterprise is considered as an accounting until separate from owners.  

(a) To gain the economic of scale                          (b) To utilise under-utilised resources (c) To break the monopoly                                      (d) To reduce the tax liability  

(a) Tax-shield on depreciation and interest is an important variable both for lessor and lessee (b) A lessee may evaluate the lease options as against the buying option (c) Sale and Lease-back, and leveraged lease are types of financial lease. (d) Lease financing is a type of capital budgeting decision from the point of view […]

(a) It facilitates the centralization of decision taking (b) It provides a system of closer control (c) It measures the performance of individuals in an objective manner (d) It develops a sense of cost consciousness among managers and their subordinates      

List  I (Accounting Standards) List II (Relationships) (a) AS-6 (i) Accounting for Consolidated Financial Statements (b) AS-3 (ii) Accounting for fixed Assets (c) AS-10 (iii) Depreciation Accounting (d) AS-21 (iv) Accounting for Cash Flow Statement

Statement-I: In payback period method, the risk of the project is adjusted by lessening the target payback period. Statement-II: Sensitivity Analysis helps in calculation of net present value of the proposal Code: