The 'Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019' was for: MCQ with Answer and Explanation

Explanation:
Prudence requires stock at lower of cost or NRV, so ₹55,000.

Explanation:
GST is a comprehensive indirect tax levied on the supply of goods and services. However, it did not subsume *all* indirect taxes; for example, basic customs duty, stamp duty, and electricity duties are still outside GST. S1 is correct, S2 is incorrect.

Explanation:
Under the Indian Partnership Act, 1932, if the deed is silent, all partners share profits and losses equally.