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Accountancy
answered on 26-Aug-23 13:16
In the below question,say whether it is adjusting event or non adjusting event if such event happened after balance sheet date but before board approval.
latest answer
Thank you sir
Krishnan K
CA Inter
★ 5K+
2
367
As 4
Accountancy
answered on 26-Aug-23 13:08
As on balance sheet date , we have a total debtors of Rs.5,00,000. We created a general provision of 1% on provision for doubtful debts.After balance sheet date but before the board approval, Mr.B debtor of Rs.1,00,000 becomes insolvent. Ans. I think it is non adjusting event , becoz There is no condition that Mr.B will become insolvent is existing at the balance sheet date. General provision of 1%does not mean there is a condition existing at the balance sheet date. Is my understanding correct!
latest answer
Yes.
Krishnan K
CA Inter
★ 5K+
1
413
Doubt
Accountancy
answered on 21-Sep-23 20:24
Sir ,recently somebody told that business law and accounts for ca foundation is going to be a in mcqs is it true ,please give me fast reply about this ,so that I can start my preparation
latest answer
Account and law are descriptive paper
Mangallapalli Vaishnavi
CS Foundation
★ 680
2
452
Partnership(dissolution) -- unrecorded asset
Accountancy
answered on 26-Aug-23 06:07
Say the logic behind why unrecorded asset is not debited like other assets, in realization account
latest answer
Thank u sir
Sajeetha R
CA Final
★ 46K+
5
510
Advanced ITT and MCS
Exams
answered on 25-Aug-23 17:58
Planning to give May 24 Final exams.Residing in Tambaram Circle, Chennai. Native of Tuticorin. Both Tambaram and Tuticorin branch no plan of Adv. ITT and MCS course as of now. As they got limited final students which is then insufficient for a batch strength. What can I do ? Alternate ideas. Also the completion is necessary before applying for exams
latest answer
U have sufficient time to complete I guess since ur exam due in May . Keep searching for batches near u . If not u have to travel for other branches.
Sindhu Machado
CA Final
★ 0
2
511
Agricultural income
Direct Taxation
answered on 25-Aug-23 23:46
Sir , a) if I am into the business of renting warehouse or storage facilities and if one of my warehouse is used to store agricultural produce , then that rental income from only that particular warehouse will be exempt under section 10(1) or not ? b) if I am not into renting business of warehouse , and then that warehouse is used to store agricultural produce , will that be exempt under section 10(1).. 3) will cultivation come under agricultural activities done by farmer .so cultivation will be exempt or not under section 10(1).. 4) if a warehouse / store room I own is rented and used to keep animals which assist in grazing etc on field , then that store rent will be exempt or not under section 10(1).. 5) if i rent an agricultural land or store to a farmer who does farming activities , then it will be exempt from my income in my books and from farmer's in farmer's books ?
latest answer
Thank you so much
Samridhi Sareen
CA Inter
★ 830
2
388
Addition of Group in Nov 23
Exams
answered on 25-Aug-23 15:54
I have already registered for ca inter Group 1 exam on 23/8/23. After seeing the exemptions from old scheme to new scheme exam, Now I would like to register for both groups exam in Nov 23. What shall I do now? Am I able to register Group 2 through correction window?
latest answer
Thank you Sir
Maria Helan
CA Inter
★ 3K+
2
370
Tds
Direct Taxation
answered on 25-Aug-23 15:06
Can last 2 persons claim tds Please explain this
latest answer
Yes they can. Claiming of TDS by deductee is purely based on TDS returns filed by the deductor. Since the TDS credit reflects in Form 26AS based on the TDS returns filed.
SAI AKASH GORU
CA Final
★ 750
2
386
Clarity for exemption Notification
Exams
answered on 25-Aug-23 15:09
I have Cleared Group 1 and Got exemption in Audit and Eis of Group 2 As per New Scheme am I clear and second If I clear Will I appear in Nov 2023 exam or I get marksheet of clearance of both Group in this.
latest answer
Yes of course.
Manish Ahuja
CA Final
★ 140
4
604
Doubt
Financial Management
answered on 25-Aug-23 14:58
Capital markets are perfect meaning.
latest answer
Capital markets mean financial markets where stock,bond, etc. are trading(buy and sell).. Capital markets are not considered "perfect" in the sense of being flawless or ideal. In reality, capital markets are subject to imperfections, such as information asymmetry, transaction costs, and market manipulation. These imperfections can lead to inefficiencies and disparities in pricing and allocation of assets. The term "perfect" is often used in economic models to describe theoretical scenarios, but real-world capital markets do not meet the criteria of perfection.
Vignesh Sudalai
CA Final
★ 5K+
1
435