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Practice Accounts Questions and Answers

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?
In the context of GeM, what is the full form of ‘PAC’?
Which of the following is most associated with managerial accounting?
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.
What types of products and services can be procured through GeM?
Can micro and small enterprises (MSEs) benefit from GeM?
If MOS = 50000 units and BE units are 35000, then what are the Budgeted Sales units?
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 assessee 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?
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?

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