Do we substrate sales expense after cogs to get Gross Profit ? Because in classes Sir showed sales expense after gross profit but in inventory chapter questions from book its deducted before gross profit.
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The answer given for this question is B. But doesn’t purchase of equipment for manufacturing cars fall under operating activity? I believe the correct answer should be A
If we get same answer using direct and indirect method, why do we need/use indirect method? Please explain.
The individual who gets dividend on pref shares, isn’t he liable to pay tax on its dividend? Or is it not considered taxable while calculating BEPS and DEPS? Please explain.
Ans to this question should be B right? as in total assets we add 867(1 – T) and in net income change in LR(1 – t)
Change in financial position is shown by Balance sheet or by statement of changes in shareholders equity ?
Under International Financial Reporting Standards (IFRS), reported operating cash flows are most likely to be increased by the classification choice made for: impairment losses on fixed assets. dividends paid. interest expense. Solution C is correct. IFRS allows the classification of interest expense as either an operating or a ...
I didnt understand the solution please help.
The objective of general purpose financial reporting is best described as: providing information about financial performance to a wide range of users. facilitating resource allocation decisions by current and potential investors and creditors. reporting an entity’s economic resources and claims, and changes therein, to shareholders. the ...
If sales growth is faster then the chances of running out of stock is high so it is ineffective management of inventory. So why A ?