Practice Accounts Questions and Answers

• 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
•     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 Varia...
• 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
• ICDS II deals with which of the following aspect?
• Which of the following section deals with deduction in respect of Interest on deposits in savings/FD account in case of resident senior citizens?
• A type of market in which securities with less than one year maturity are traded, is classified as
• How much percentage of salary is allowed for exemption in House rent allowance Section 10(13A) in case of metro city?
• ICDS III deals with which of the following:
• Ind AS 7 deals with which of the following:
• The term ‘ Previous year’ is defined under which section of Income Tax Act?
• The audit that is made compulsory under statute is called _________.
• Preliminary expenses are the best example for _________.
• The main object of the audit of the cash book may be ________.
• As per Income Tax Act, Children education allowance is exempt upto?
•   ICDS III deals with which of the following:
• Financial Instruments such as Call Money, commercial paper, Bills of exchange, T-Bills, are traded in which of the following market?
• Which term refers to the specific rate of interest carried by a bond?
• Who among the following can issue Certificate of Deposits to raise short term resources?
• A type of market where debt and stocks are traded and maturity period is more than a year is known as
• Ind AS 7 deals with which of the following:
• The term ‘ Previous year’ is defined under which section of Income Tax Act?
• __________ is a systematic examination of the books and records or a business
• This kind of audit is conducted generally between two annual audit ______.
• Before the work of audit is commenced, the auditor plans out the whole of audit work is called _________.
• Voucher relates to _________.