Question

67.
Income by sale of investment of Rs. 2,00,000 in first quarter are equally distributed in
all quarters. Profit for the 4th quarter is Rs.1,50,000, what is the profit reported in IFR of
4th Quarter.
(a) Rs.1,00,000 (b) Rs.1,50,000 (c) Rs.2,00,000 (d) Rs.2,50,000​

Answer 1

Answer:

Calculating your business’s quarterly earnings is an important way to measure your financial performance during the year. Each year consists of four quarters. Each quarter’s earnings equal the total revenues for that quarter minus the total expenses for that quarter. You report your revenues, expenses and earnings on your income statement. If your total revenues are more than your total expenses for the quarter, you will have a quarterly profit, or net income. If your total expenses are greater than your total revenues, you will have a quarterly loss.

Explanation: