In the Indian financial system, SEBI regulates: MCQ with Answer and Explanation

Explanation:
SEBI regulates the capital markets to protect investors and promote development. It was initially set up by an executive resolution in 1988, but it was given statutory powers by the SEBI Act, 1992. S1 is correct, S2 is incorrect as it is now a statutory body.

Explanation:
Prepaid expenses are treated as current assets because they represent future economic benefits for which payment has already been made.

Explanation:
Depreciation is a non-cash transaction and does not involve a source document like invoice; it's recorded via journal voucher but is not an external voucher. But the term 'non-voucher' might refer to transactions without a supporting document. Depreciation entry has no source document, so it's often a journal entry. The question is ambiguous but likely pointing to depreciation as a non-cash transaction without physical voucher. Answer A.