Practice Accounts Questions and Answers

• 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?
• If the fixed cost is Rs.43,500 and the company, the contribution is Rs.500 per unit, how many unit sales would a company need to do to earn a profit of Rs....
• The cost incurred for an additional product is known as ________
• At the end of the accounting year the capital expenditures are shown in the:
• What is the due date for filing GSTR-9, the annual return, as per GST law?
• Which of the following book is both a journal and a ledger?
• Purchase of a laptop for office use wrongly debited to Purchase Account. It is an error of
• The term supply includes:
• Which Statement on Auditing (SA) provides guidance on the overall objectives of the independent auditor and the conduct of an audit in accordance with stan...
• Till when shall the President and every other Member of the Tribunal shall hold office from the date on which he enters upon his office as per the Companie...
• Where a company is formed and registered under this Act for a future project or to hold an asset or intellectual property and has no significant accounting...
• Any member of a company entitled to attend and vote at a meeting of the company shall be entitled to appoint another person as ___________ to attend and vo...
• According to the Companies Act which of the following statement is true regarding set-off against subsequent calls in a company when all creditors have bee...
• How to verify that while sending confidential information over the Internet such as usernames, passwords, or credit card numbers, sent data is encrypted
• ...................... is the creation of  email   messages with a forged sender address - something which is simple to do because the core proto...
• The observation of people at work that would reveal the one best way to do a task is known as
• At what level of an organisation does a corporate manager operate?
• 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?
• Who is the regulator of the corporate sector?
• Which form is required for preparing the Revenue account in insurance company engaged in general insurance business?