Explanation:
Intangible assets are non-physical assets that lack a physical substance but have value and are identifiable. These assets are not held for sale in the normal course of business but are used to generate future benefits for the company.
Explanation:
The Companies (Auditor's Report) Order, 2016, commonly known as the CARO 2016, consists of 16 clauses. These clauses specify the requirements and matters to be included in the auditor's report for companies in India. The order aims to enhance the quality and transparency of financial reporting and auditing practices for companies.
Explanation:
To determine the amount of long-term funds supporting the financing of current assets, you can use the formula:
Long-term funds = Total current assets - Total current liabilities
In this case, the total of current assets is Rs. 168 lakh, and the total of current liabilities is Rs. 142.68 lakh. By subtracting the total current liabilities from the total current assets, we can find the number of long-term funds supporting the financing of current assets:
Long-term funds = Rs. 168 lakh - Rs. 142.68 lakh = Rs. 25.32 lakh
Therefore, the amount of long-term funds supporting the financing of current assets is Rs. 25.32 lakh.
