A statement showing information on increase or decrease in net asset or wealth of an entity is called…

Related MCQs

• …..are resources controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity.
• When the recoverable amount of an asset is less than its carrying value in the statement of financial position, the asset is said to be
• …………….is the residual interest in the asset of an entity after deducting all liabilities
• Omission or misstatement in entity’s financial statement for one or more prior period is called
• Carrying amount of an asset as on 1st April 2015 is Rs. 1500000 and depreciation for the year 2015 – 2016 is 15000. Fair value of the asset less cost of disposal as on 31 March 2016 is Rs. 120000. Which of the following is the carrying amount at 1st April 2106?
• Adjustment of the carrying amount of an asset or liability or the consumption of an asset is defined as,
• Principal revenue producing activity of an entity is called…
• Activities that result in changes in the size and composition of equity capital and borrowing of an entity are called
• ” Deferred tax asset is not a component of statement of financial position”
• An entity must measure its Property, Plant and Equipment after initial recognition at,