(A) General Expenses (B) Personal expenses (C) Expenses of Income which is taxable under the other heads of income (D) Charities and donations Choose the correct answer from the options given below:
Assertion (A):Firms opt buying an asset if the equivalent annual cost of ownership and operation is less than the best lease rate it can get . Reason (R): Operating leases are attractive to equipment users if the lease payment is less than the user’s equivalent annual cost of buying the equipment. In the light of […]
(a) Increase in working capital (b) Decrease in working capital (c) Writing off the intangible/fictitious assets (d) Issuing equity shares for acquisition of a building for office (e) Charging depreciation on fixed assets
Column I Column II (a) Materiality Concept (i) The same accounting method used by a firm from one period to another (b) Going concern concept (ii) An inappropriate assumption of a firm being bankrupt (c) Historical Cost concept (iii) A normal basis used for accounting assets (d) Consistency Concept (iv) Relates to the importance […]