If any capital expenditure is wrongly shown as revenue expenditure (for example, purchase of furniture shown as purchases), it will result in __________ of profits and also an __________ of assets.
understatement, under statement
If capital expenditure is mistakenly classified as revenue expenditure, it will lead to an understatement of profits (since expenses are overstated) and an understatement of assets (since the expenditure was not capitalized as an asset). The correct treatment of such expenditure ensures that both profits and asset values are accurately stated.
Important Questions from Financial Inclusion
The Government of India has been actively working on the provisions of ‘FRDI’ Bill, 2017. What does ‘D’ stand for in ‘FRDI’?
RBI financial inclusion index (FI-Index) quality parameter captures information on which of the following:
A. Financial literacy
B. Consumer protection
C. Ease of access
D. Availability and usage
E. Inequality and deficiency in service
Choose the correct answer from the options given below:
- To support incubating startups that work in the field of livelihood, education and health Bharat Inclusion Initiative is launched. Which institute has launched this initiative?
_____________ is looking to tap into as it seeks to encourage people to gift ‘social security’ plans to their loved ones.
Accidental insurance cover in Pradhan Mantri Jan Dhan Yojna has been increased from 1 lakh to _____________ (PMJDY).
