FAR-1 Questions

Q from Test-1: -

Add 20% of 6604 in 6604: -

Means 6604 + 6604 x 20% = 7925

But Sir nay 6604 x 1.2 = 7925

Keya haa wo kasy?

Answer is correct in all situation

Q is that 1.2 kasy aya?

Demolition: -
Demolition means tearing down or destroying a building or structure. It's like taking apart a big
pile of blocks. Sometimes buildings are demolished because they are old or unsafe, and
sometimes they are demolished to make space for new things.
Difference Between Abbreviation and Acronym: -
Abbreviations and acronyms are both shortened forms of words or phrases, but they have
different characteristics and uses.

Abbreviations is a shortened form of a word or phrase that is typically pronounced as a series of

letters or syllables. For example, the abbreviation "Mr." for "mister" is pronounced as "mister" or
"mister." Other common abbreviations include "Dr." for "doctor," "Jan." for "January," and "USA"
for "United States of America."

Acronyms is a type of abbreviation that is formed from the first letter of each word in a phrase or
name. Acronyms are typically pronounced as new words, rather than as a series of letters or
syllables. For example, the acronym "NASA" for "National Aeronautics and Space
Administration" is pronounced as "na-sa." Other common acronyms include "LASER" for "Light
Amplification by Stimulated Emission of Radiation" and "SCUBA" for "Self-Contained
Underwater Breathing Apparatus."

There is some overlap between abbreviations and acronyms, and some people use the terms
interchangeably. However, it is generally considered more accurate to use the term "acronym"
only when the shortened form is pronounced as a new word.

Initialisms are a type of acronym that is pronounced as individual letters. For example, the
initialism "FBI" for "Federal Bureau of Investigation" is pronounced as "f-b-i."
 Abbreviations and acronyms are often used in writing to save space and time. However, it is
important to use them sparingly and to define them clearly when first using them.

If the asset is sold or dispose. This have same meaning?

No, selling an asset and disposing of it are not the same thing.

 Selling an asset means transferring ownership of the asset to another party in exchange for
money or another asset. The seller no longer has control over the asset and receives cash or
another asset in return. For example, a company might sell an old piece of equipment to a scrap
metal dealer.
 Disposing of an asset means getting rid of the asset in a way that does not result in the receipt
of cash or another asset. This could include scrapping the asset, donating it to charity, or
throwing it away. For example, a company might dispose of an old computer by scrapping it.

In some cases, selling an asset and disposing of it may have the same net effect on a
company's financial statements. For example, if a company sells an asset for its book value, the
company will not recognize any gain or loss on the sale. However, there are other cases where
selling an asset and disposing of it will have different financial implications. For example, if a
company sells an asset for more than its book value, the company will recognize a gain on the
sale. Conversely, if a company disposes of an asset that is still in use, the company will
recognize a loss on the disposal.

Divide the profit of Rs 30,000 in three partners. Two of them has equal contribution of
100,000. But third one has invested 50,000: -
There are two main ways to divide the profit in this scenario, as you mentioned different
contribution amounts:

1. Based on investment ratio:

This approach prioritizes the partners' financial contribution to the business. In this case:

 First two partners contributed Rs 100,000 each (total of Rs 200,000).

 Third partner contributed Rs 50,000.
 This translates to a 4:1 ratio between the first two partners and the third partner.

To calculate the profit share based on this ratio:

 First two partners: (4/5) * 30,000 = Rs 24,000

 Third partner: (1/5) * 30,000 = Rs 6,000