Practice Accounts Questions and Answers

• An arrangement between two insurance companies whereby one transfer is a part of risk to other company is called?
• Which of the following is true?
• Goods costing ₹ 1,00,000 were insured for ₹ 50,000. Out of these goods, ¾ are destroyed by fire. The amount of claim with average clause will be:...
• If the policy is without average clause, a claim for loss of profit will be?
• What is the safety margin that insurers must maintain to safeguard the interests of policyholders called?
• 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?
• The Audit undertaken to check the implications of the top management decisions, having a financial bearing is otherwise known as:
• According to the Standards of Auditing, the "Documentation" aspect is dealt with:
• Deduction in respect of royalty income of authors under Chapter VI is allowed under Section:
• NPV assumes reinvestment of the cash flows at:
• An annuity that starts at a predetermined date in the future is called as:
• What is the term used to describe the rate of return earned by an investor who purchases a bond and holds it until it matures?
• An assessee is required to deposit how much % of advance tax liability on or before 15th June?
• As per taxation terminology, Income of a particular year is taxable in the immediately following year. Immediate following year is called as …………�...
• If the company earned revenue from operations of Rs.18 lakh, what is the working capital turnover ratio of the company?
• If the company earned revenue from operations of Rs.18 lakh, what is the trade receivables turnover ratio of the company?
• A company has average account receivables of Rs 120000 and annual credit sales of Rs 600000, Calculate the average collection period (assume number of days...
•   Which of the following is not a tool of financial statement analysis?
• Under which method of depreciation, the value of a fixed asset is reduced uniformly over its useful life?
• The cost of capital for a firm _______.
• Calls in arrear is shown in Balance Sheet as?
• 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?
• Deferred Tax Liabilities’ is shown under which of the following heads in a Balance sheet as per the format given in Companies Act, 2013?
• 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 Qty if the budgeted units are 1,00,00...
• Which section deals with TDS on cash withdrawals?
• In India, the GST is based on the dual model GST adopted in:
• The return forgone for the undertaking an investment is known as?
• What is the appropriate method for calculating the cost of inventory when there are significant fluctuations in purchase prices?
• The capital asset pricing model (CAPM) suggest that, the cost of equity is a trade-off between :
• While calculating the claim outstanding at the end, which claims are considered?
• What is the Surrender Value of an insurance policy?
• Which Section of the Insurance Act defines ‘General Insurance Business’?
• What does Miscellaneous Insurance encompass?
• Which act primarily governs the field of general insurance in India?
• Interest payable u/s 234C is computed at