Question
Two primary qualitative characteristics of financial
statements areSolution
Relevance means that the information presented in the financial statements is useful and pertinent to the users' decision-making needs. It should have predictive value, confirmatory value, or both. Reliability means that the information in the financial statements is accurate and trustworthy. It is free from errors, bias, or misrepresentation, and is verifiable through independent sources.
Consider the following statements about National Housing Bank (NHB):
I. It was set up by an Act of Parliamen...
SVAMITVA Scheme of the Ministry of Panchayati Raj is a Central Sector Scheme that has significantly contributed to the empowerment of rural communities ...
Which of the following has been awarded the Digital India Awards in “Digital Empowerment of Citizens” category?
Which regulatory body supervises co-operative banks in India?
When was the Asian Development Bank founded ?
Which one of the following is a purpose of ‘UDAY’, a scheme of the Government?
All single payment transactions of Rs. ______ crore and above undertaken by entities (non-individuals) should include remitter and beneficiary LEI info...
Which of the following can be defined as those that neither create any liability nor cause any reduction in the government's assets?
Consider the following statements in regard to Zero Base Budgeting (ZBB) :
(1) Existing Government programmes can be discarded under ZBB if they ...
The exchange of commodities between two countries is referred as?
