Questions

Financial Reporting involves the disclosure of financial information to the various stakeholders about the financial performance and financial position of the organization over a specified period of time. These stakeholders include – investors, creditors, public, debt providers, governments & government agencies.

Financial Reporting is very important and critical task of an organization. It is vital part of Corporate Governance.

The objectives & purposes of financial reporting :–

* Providing information to management of an organization which is used for the purpose of planning, analysis, benchmarking and decision making.

* Providing information to investors, promoters, debt provider and creditors which is used to enable them to male rational and prudent decisions regarding investment, credit etc.

* Providing information to shareholders & public at large in case of listed companies about various aspects of an organization.

* Providing information about the economic resources of an organization, claims to those resources (liabilities & owner’s equity) and how these resources and claims have undergone change over a period of time.

* Providing information as to how an organization is procuring & using various resources.

* Providing information to various stakeholders regarding performance management of an organization as to how diligently & ethically they are discharging their fiduciary duties & responsibilities.

* Providing information to the statutory auditors which in turn facilitates audit.

* Enhancing social welfare by looking into the interest of employees, trade union & Government.

A modem is a hardware device which performs both modulation and demodulation. MODEM means (Modulator-Demodulator).

The Parliament cannot amend those provisions which form the ‘basic structure’ of the Constitution. This was ruled by the Supreme Court in the Kesavan and a Bharati Case. (1973)

Basic Structure of the Indian Constitution is not defined. But according to SC, the basic structure can be evolved but cannot be destroyed. Hence it falls within the constituent powers of the Parliament. Hence both 1 and 3 are correct.

We require vitamins B & C for hair growth. But Vitamin B such as Vitamin B7 or Biotin is required for the growth of hair.

On December 21, the earth is in an equivalent position on the opposite points in its orbit, So the South pole is tipped towards the sun and North pole away from it resulting in 24 hours of darkness at the North pole, as the sun is overhead on the Tropic of Capricorn. This phenomenon is winter solstice; while on June 21, North pole is tipped towards the Sun but the South pole is tipped away from the sun resulting in 24 hours of darkness on the South Pole, as the sun is overhead on the Tropic of Cancer.This phenomenon is summer solstice; while Aphelion is the position of the earth in its orbit when it is at its distant point from the sun.

The country Afghanistan scores highest ever T20I score i.e, 278 in 20 overs match against Ireland in 2019.