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Practice Accounts Questions and Answers

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?
What are the various conditions on the basis of which a retiring auditor may be re-appointed at an annual general meeting as per the Companies Act?
A person shall be eligible for appointment as an auditor of a company only if he is a _______________
What is the minimum number of directors which a One Person Company can have?
The Central Government shall with __________________from the receipt of the application allot a Director Identification Num...
A Private Company can raise funds in how many ways _____________________
As per section 408 of the Companies Act the National Company Law Tribunal shall consist of ________________
The Article of a company may be altered by _____________
A company registered under section 8 of the Companies Act shall not alter the provisions of its memorandum or articles except with the previous approval of...
The first Annual General Meeting of the company shall be held ______________
Goods costing ₹ 2,00,000 were insured for ₹ 150000. Out of these goods, 1/3 are destroyed by fire. The amount of claim with average clause will be:
According to the Executive Committee of the General Insurance Council, what is the minimum amount of unexpired risk reserve required for Marine Insurance?
What is the minimum amount of unexpired risk reserve mandated by the Executive Committee of the General Insurance Council for Other Insurance?
Which Ind AS deals with Revenue from Contracts with Customers?
Which ICDS deals with Accounting Policies?
GSTN is a -----------
What is the taxable event under GST?
A supply comprising of two or more supplies shall be treated as the supply of that particular supply that attracts highest rate of tax.
ICDS III deals with which of the following:
What is the amount which is allowed as standard deduction under section 16 from Gross salary while computing the Income under head salary?
What is the maximum amount of exemption that is allowed for gratuity if received at the time of retirementby an employee covered under Payment of Gratuity ...

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