Question
What distinguishes transfer payments from other types of
payments?Solution
The distinguishing characteristic of transfer payments is that they are one-way payments made without an immediate exchange of goods or services. Unlike payments for goods or services, transfer payments are typically meant to provide financial assistance or support without the expectation of receiving something in return.
Which type of account is specifically designed for the purpose of encouraging savings among minors in India?
X Ltd. forfeits shares for non-payment of final call. These are reissued at a discount. Where is the discount adjusted?
The standard cost of labour for 1 unit is 2 hours at ₹50 per hour. Actual production is 100 units and actual labour cost is ₹11,000 for 200 hours. W...
Which of the following is NOT classified as a financing activity under AS 3?Â
XYZ Ltd. plans to buy back 10% of its paid-up equity capital. It has reserves of ₹20 crore and total debt of ₹80 crore. As per Companies Act and SEB...
XYZ Radiology Centre acquired a new imported X-ray machine for Rs.10,50,000. Octroi paid on the machine was Rs. 5,000. Expenses of setting up and start...
A company records Net Sales of ₹60,00,000, of which 50% are on credit. The opening receivables were ₹2,00,000 and the closing receivables were ₹4,...
What is the minimum number of independent director on board of a listed company?
Once the Prospectus is filed with the Registrar of Companies, it is valid for how many days?
Which IND AS governs accounting for insurance transactions in India?
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