If income is accrued <u>or arises outside India and is not received in India</u>, it is not taxable in the case of Non-Resident.
<h3>Who is a resident and non resident?</h3>
A resident is a person who has resided in India in that year for 182 days or more. He is a natural person or an individual who is domiciled in a particular state.
A Non- Resident is a person who is not the resident of India for tax purposes. Section 2(30) defines non-resident as a person who is not a resident.
Basically, Income which accrue or arise outside india and also received outside india is taxable in case of Non-Resident.
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Answer:
B.enables production to be ahead of demand.
Explanation:
<em>One of the benefits of a wholesale warehouse in the chain of distribution is that it </em><em>enables production to be ahead of demand</em><em>.</em>
A warehouse generally represents a large house where goods/products are kept prior to their distribution for sale.
The use of a warehouse offers several advantages to producers. These include:
- adequate protection and preservation of products
- regular flow of goods irrespective of their period of production
- continuity in the production process in order to stay ahead of market demand
- easy handling of products
- etc.
<em>Hence, the correct option is B.</em>
Answer:
See explanation
Explanation:
(a) Assets are understated - If we do not adjust accrued revenue, the assets are understated. For example - if we do not add any outstanding rent revenue, the assets will become understated.
(b) Liabilities are overstated - If we do not adjust unearned revenue, the liabilities are overstated. For example - if we do not deduct any expired unearned revenue, the liabilities will become overstated.
(c) Liabilities are understated - If we do not adjust accrued expense, the liabilities are understated. For example - if we do not add any outstanding rent expense, the liabilities will become understated.
(d) Expenses are understated - If we do not adjust accrued expense and prepaid expense, the expenses are understated. For example - if we do not add any outstanding rent expense and expired prepaid expenses, the expenses will become understated.
(e) Assets are overstated - If we do not adjust prepaid expense, the assets are overstated. For example - if we do not deduct any expired prepaid insurance, the assets will become overstated.
(f) Revenue is understated - If we do not adjust accrued revenue and unearned revenue, the revenue is understated. For example - if we do not add any outstanding rent revenue and expired unearned revenue, the revenue will become understated.
Answer:
To make it feasible it will need to operate 7 or more planes.
Explanation:
450,000 maintenance facility
useful life of 15 year
salvage value of 100,000
<u>saving cost per plane:</u>
third party cost - own facility cost = cost savings
35,000 - 25,000 = 10,000
present value of the salvage value: (present value of a lump sum)
salvage $ 100,000
time 15 years
Minimum accepter rate of return: 0.12000
PV 18,269.6261
present worth of the facility:
450,000- 18,268.63 = 431,731.37
Now we determinate the PMT over a 15 years period to know the cost savings per year to justify the facility:
PV 431,731
time 15
rate 0.12
C $ 63,388.630
As each plane cost savings are 10,000
63,388.62 / 10,000 = 6.39
the company will need to operate 7 or more planes.
