The 'Angel Tax' exemption for startups was enhanced to include investments up to: MCQ with Answer and Explanation

Explanation:
Free samples are treated as a promotional expense (Advertising). Free charity goods are treated as a charitable donation. Both require debiting their respective nominal accounts.

Explanation:
As per Schedule III, a current asset is one that is expected to be realized within 12 months from reporting date or within the operating cycle, whichever is longer.

Explanation:
AS 22 mandates recognition of deferred tax assets/liabilities for timing differences.