Mr. Ramesh was appointed as CEO of the company with a salary of Rs. 50,000 per month. State whether this event will be recorded in the books of accounts.
with explaination.
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The two problems arose with the new Munro system of fixing revenue were: (a) The revenue officials fixed too high a revenue demand. As a result the peasants failed to pay, ryots fled the country side, and villages became in many regions.
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No. The appointment will not be recorded because it has not resulted in any change in the financial position of the firm. (It will be recorded only when the salary is paid.)
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