Ind AS 37 defines a provision as a liability of uncertain timing and amount and prescribes conditions that have to be satisfied for recognition of a provision. A provision shall be recognised when: · an entity has a present obligation (legal or constructive) that is a result of a past event; · it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and · a reliable estimate can be made of the amount of the obligation. A contingent liability is contingent upon happening/non happening of an event. An entity shall not recognise a contingent liability.
True about NEFT/RTGS?
In May 2023, the Supreme Court of India granted couples the right to get divorce on the grounds of 'irretrievable breakdown of marriage' under _________...
The GeM SAHAY platform is designed to be 'lender agnostic,' meaning:
The ‘Tripartite struggle’ was between Gurjara Pratiharas in North India, Palas in Eastern India and ________ in South India.
Which of the following statements about the President of India is correct?
Which State/Union Territory is traditionally associated with a yogurt-based gravy dish called 'Yakhni'?
In the Koppen’s climatic classification, ‘AW’ represents –
The Reserve Bank of India (RBI) has increased the maximum stake that promoters can hold in their banks to what percentage?
Who is presently serving as the Sherpa of the G20?
When is the International Day of Democracy celebrated?
