Practice Accounts Questions and Answers

• The DuPont Analysis uses the following ratios except:
• Where to show Share application money received in excess of issued share capital?
• As per Schedule III of the Companies Act, 2013, the current maturities of long term debt have to be shown under which of the following heading?
• When book profits are less than taxable profits:
• Deferred Tax Liabilities’ is shown under which of the following heads in a Balance sheet as per the format given in Companies Act, 2013?
• Which of the following cost are not excluded from the cost of inventories as per AS 2:
• V Ltd. sells Customer C a water purifier and maintenance service for 2 years for a total consideration of Rs 20,000. As per IND AS 115, determine how many ...
• In the case of a Government company the Comptroller and Auditor-General of India shall, appoint an auditor within a period of _____________ from the commen...
• Any casual vacancy in the office of an auditor shall in the case of a company whose accounts are subject to audit by an auditor appointed by the Comptrolle...
• Journal entry for recording of bad debt expense is which one among the following?
• What is the journal entry for purchasing Machinery from M/S Darjeeling?
• If Selling Price is 9 per unit, variable cost is 5 per unit and fixed cost is 100000, what is the Margin of safety in % if the budgeted units are 1,00,000.
• Who owns the GeM?
• What is the role of GeM in promoting transparency in government procurement?
• The person responsible for paying any income by way of winnings from lottery an amount exceeding ₹ 10,000, shall deduct
• The liability to pay interest u/s 234B would arise when the advance tax plus TDS/TCS to the credit of the assessee is less than
• Calculate the inventory turnover ratio:
• Calculate the average age of inventory(Assume 360 days in a year):
• Operating Margin can be numerically expressed in the form of following equation:-
• Interest coverage ratio can be numerically expressed in the form of the following equation:-
• What is the ideal liquid ratio of any entity?
• If Selling Price is 9 per unit, variable cost is 5 per unit and fixed cost is 100000, calculate PV ratio?
• Under written down value method of Depreciation, the WDV of the asset is always:
• The two basic measures of liquidity are?
•  If the inventory turnover is divided by 365, it becomes a measure of
• Money received against share warrant is shown under which head?
• A person or their relative or partner who is indebted to the company for an amount exceeding what threshold is disqualified for the appointment of an audit...
• __________ refers to the attitude that includes a questioning mind and a critical assessment of audit evidence.
• The GST on used car sales is ____ as per the 55th GST council meeting decisions taken in December 2024.
• _______ refers to the information collected by an auditor to ascertain the accuracy and compliance of a company's financial statements.
• If the MOS = 40000 units and BE units are 35000 and PV ratio is 60%. Calculate profit if revenue per unit is 8.
• Interest payable by a non-corporate assessed for deferment of advance tax is
• Which of the following assessee is not liable to pay advance tax u/s 207?
• What duties are taxes on intra-State supplies?
• Which of the below import duties would be imposed?
• Interest payable u/s 234C is computed at
• From the following information calculate the amount of sales to earn a desired profit of Rs.6,000 Fixed Cost: 12,000 Selling Price: 12 per unit Variable co...
• U/s 208, it is obligatory for an assessee to pay advance tax where the tax payable is
•   ___________ may fix remuneration of the first auditor appointed by the Board as per section 142 of the Companies Act
• Calculate the Current ratio based on above information?