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Practice Accounts Questions and Answers

Which type of reinsurance involves one particular risk and is expressed in a reinsurance policy, with each transaction negotiated individually and offering...
What should be the correct Journal Entry for booking premium income in case of Incoming coinsurance:
Under which section of the Income Tax Act, 1961, are the provisions related to TDS on interest on securities mentioned?
Two persons agree to exchange 100 grams of gold three months later at ₹ 400/gram. This is an example of:
What is the limit amount for deduction in respect of Medical/Health Insurance Premium under Section 80D of the Income Tax Act, 1961?
If the shareholder has purchased a share when the market price is Rs.50 and sold after a year to Mr. B at 55 and he has received the dividend of Rs.10, wha...
In GST the transaction value for computation of value of supply can be rejected if-
What is the maximum deduction allowed under Section 80U of the Income Tax Act, 1961, for an individual with a normal disability?
According to the CAPM model, Expected Return = Risk free rate + Risk premium. Here, what does the risk free rate compensate the investor for?
In case goods disposed off by way of free sample:
What is the primary purpose of GSTR-1 in the GST (Goods and Services Tax) system?
SA 500 deals with which of the following?
A long contract requires that the investor
Which Indian Accounting Standards (Ind AS) deals with "Financial Instruments"?
For which of the following goods, the manufacturer is not allowed to opt for composition scheme:
What would be the break even units if the Fixed Cost is Rs.1,00,000 and PV ratio is 25%. The company sells its product at Rs.60 per unit.
According to the capital-asset pricing model (CAPM), a security's required return is equal to the risk-free rate plus a premium. This premium is _____
Which Income Computation and Disclosure Standard (ICDS) deals with "The Effects of Changes in Foreign Exchange Rates"?
What type of comparison involves assessing a company's financial ratios against its own historical performance?
……………… cost is a criterion cost which may be used as a yardstick to measure the efficiency with which actual cost has been incurred....
What financial ratio measures the number of days a company can cover its cash expenses without relying on external financing for a certain period?
According to Ind AS 16 - Property, Plant and Equipment, what is NOT considered when determining the cost of self-constructed assets?
There can be variety of budget. Name the budget which relates to a particular function of the business.
A Ltd owns land and building which are carried in its balance sheet at an aggregate carrying amount of 10 million. The fair value of such asset is 15 milli...
What does the acronym "OCI" stand for in accounting and financial reporting?
Activity Ratios are meant to indicate:
The value of derivative is determined by
1 What is a special purpose vehicle (SPV) in project finance?
A hotel provides a 4-D/3-N package with the facility of breakfast. This is a ..........
If revenue from operations is Rs.60,00,000 Gross Profit ratio is 60%, Operating expenses are Rs.40,000 and Income tax rate is 30%, what will be the Gross P...
As per AS-13, Long Term Investments are carried in the balance sheet at what value?
If the organisation has Budgeted sales > the Break-Even level of Sales, then Margin of Safety, would be:
Fill in the blanks by selecting appropriate word/s the List II. List I: 1. The _________ ratios are primarily measures of return: 2. The __...
Identify correct full forms of ESOP and ESPP.
If the Opening Debtors were Rs.50,000 and Closing debtors are Rs.40,000, what effect will it have on the cash flow statement?
What is project financing?
Gifts not exceeding_____in value in a financial year by an employer to an employee shall not be treated as supply of goods or services or both.
The Bank overdraft repayable on demand will be reported in the cash flow statement as _____
A company reported net profit before tax of Rs.36,100. It has raised debt capital of Rs.250,000 through 13% debentures. What is the interest coverage ratio...
Who is the regulator of the corporate sector?

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