Question : Compensation paid to employees under Voluntary Retirement Scheme is a example of ____________.
Option 1: Extraordinary items of Operating activities
Option 2: Extraordinary items of Investing Activities
Option 3: Extraordinary items of financing Activities
Option 4: None of the above
Correct Answer: Extraordinary items of Operating activities
Solution : Answer = Extraordinary items of Operating activities
Compensation paid to employees under the Voluntary Retirement Scheme is an example of Extraordinary items of Operating activities because Extraordinary items are incomes and expenses that arise from events or transactions that are clearly distinct from the ordinary business activities of the enterprise. Hence, the correct option is 1.
Question : Payment for buy-back of Shares is an example of
Question : Claim received against damage of fixed assets say because of an earthquake is an example of ____________.
Question : When a fixed asset is bought as hire purchase, interest element is classified under ______ and loan element is classified under________.
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