Discount allowed to a customer is ---- to the business.
ARevenue
BAsset
CLiability
DExpense
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A trial balance is prepared to check the ---- of ledger accounts.
Gross Profit is computed using which of the following formula?
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An entity sells products with a one-year warranty. Past data shows 4% of sales require repairs costing on average 30% of the product’s selling price. For current-year sales of ₹40,000,000, what provision for warranty should be recognized?
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