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Practice Accounts Questions and Answers

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?
Indian Insurance Co. Ltd. on 31.12.20X1 had reserve for unexpired risk of 20 crores in respect of fire insurance business. During 20X2, the premium collect...
Which of the following is not a mandatory financial statement of a General Insurance Company as per IRDA regulations?
What does IBNR stand for in insurance?
For intra-State sales, the GST is divided between the Centre and the State in the ratio?
The UTGST Act, 2017 is applicable to Union-Territories except:
The point at which the liability to charge tax arises is called as the
The term "Goods" under GST does not include:
………… of CGST Act, 2017 lists down the activities which shall be treated neither as supply of goods nor as supply of services.
The term depletion is used in relation to
An asset is purchased for Rs.50,000 on which depreciation is provided annually according to the straight-line method, the useful life is 10 years and the s...
Economic life of an enterprise is split into the periodic interval as per which concept?
An entry with more than one debit or credit is known as
If nothing is given in the financial statements about the three accounting assumptions, then it is to be treated as it
The arrangement of assets and liabilities in accordance with a particular order is known as of balance sheet.
For a given product, the sales of a company @ ₹ 200 per unit is ₹ 20,00,000. Variable cost is ₹ 12,00,000 and fixed cost is ₹ 6,00,000. The capacit...
Mr. A of Delhi supplied goods to Mr. B of Chandigarh (Union-Territory). Which law will govern this transaction
Which of the following is not an objective of management accounting?
Following information is available regarding an organization: Direct material purchased: 1,50,000 Direct material consumed: 80,000 Direct labour: 50,000 Di...
Which section of the Companies Act, 2013 deals with an audit of cost accounting records -
In an organization, profit after interest, tax, and dividend on preference shares is 4,00,000. The number of equity shares is 40,000 and the dividend payou...

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