Provision for Doubtful Debts is a contra asset to Debtors, Bank/Cash is a contra account in the cash book, and Accumulated Depreciation is a contra asset to Fixed Assets.
Explanation:
All these technologies (cloud, AI, blockchain) are transforming accounting by automating tasks, improving accuracy, and enabling real-time reporting.
Explanation:
GST is a destination-based tax, meaning the revenue goes to the state where the goods are consumed, not where they are produced. It is a dual GST, levied by both the Centre (CGST) and States (SGST). S1 is correct, S2 is incorrect.
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