Practice Accounts Questions and Answers

•   Internal auditor is appointed by ________.
• Auditing begins where ______ ends.
• How much deduction under section 80TTA of Income Tax Act is allowed?
• GeM is characterized by which of these three core elements?
• What is the significance of GeM Analytics in the Government e-Marketplace?
• Who will notify the rate of tax to be levied under CGST Act?
• Which of the following taxes will be levied on imports?
• Value of supply under section 15(1) is:
• Within how many days a person should apply for registration?
• Family Pension is taxable under which head of Income?
• As per Income Tax Act, Children hostel allowance is exempt upto?
• How much deduction under section 24(a) of Income Tax Act is allowable with respect to Income under the head house property?
• Process costing is suitable for
• Indirect material used in production is classified as
• The new concept of One Person Company (OPC) introduced by the Companies Act, 2013 provides that OPC should be registered as a _____________ type of company...
• In which document of the company is the purpose or objective of its incorporation mentioned, as per the Companies Act?
• What is the maximum number of people that can be offered securities for subscription through private placement in a single financial year?
• The work of one clerk is automatically check by another clerk is called _________.
• The most difficult type of misstatement to detect fraud is based on __________.
• Which report will be submitted by an auditor, if he is dissatisfied regarding the facts and information?
• Which accounting standard deals with the recognition, measurement, and presentation of Property, Plant and Equipment?
• The section of the companies Act, 2013 which contains provisions regarding remuneration of the auditor is:
• What is the standard TDS rate applicable to interest on securities as per Section 193 of the Income Tax Act, 1961?
• Under which section of the Income Tax Act, 1961, can an individual claim a deduction for the payment of Medical/Health Insurance Premium?
• What is the maximum deduction allowed under Section 80U of the Income Tax Act, 1961, for an individual with a severe disability?
• Which section of the Income Tax Act, 1961, allows a deduction of interest paid on loan taken for purchase of an electric vehicle?
• ICDS IV primarily deals with which aspect of financial reporting
• Under which section of the Income Tax Act, 1961, is the term "person" defined?
• What does CBLO stand for?
• If a firm has 100 in inventories, a current ratio equal to 1.2, and a quick ratio equal to 1.1, what is the firm's Net Working Capital?
•   Which of the following ratios is very important to assess the eligibility of a borrower for a Term Loan?
• Time of supply means
• The value of supply should include:
• Which of the following instrument is subject to counter party risk?
• The difference between the spot price and the future price of a future is called as _____?
• Concurrent audit is a part of:
• …………… is the % by how much % can the sales drop down before the organisation start making losses
•   If the PV ratio us 80% and MOS is 20000. Calculate FC if SP per unit is 5 and Contribution is 40000.
• IND AS 115 prescribes a 5-step model for recognition of revenue, identify the correct sequence of the following steps given below:            ...
• Once the Prospectus is filed with the Registrar of Companies, it is valid for how many days?