Practice Accounts Questions and Answers

• Short-term capital gains arising from the transfer of equity shares in a company or units of an equity-oriented fund or units of a business trust charged w...
• Unclaimed dividend is shown in the balance sheet under the head
• Following is/are the feature of Exchange traded contract: I.         It is highly customized II.         It has margin requirements III....
• Match the following:  I.              Test of Liquidity  A. &n...
• Which among the following correctly describes Margin of Safety?
• In the context of auditing standards, which standard is associated with "Agreeing the Terms of Audit Engagements"?
• Price risk is the risk of a decline in the value of a security or a portfolio. How can one transfer price risk?
• An auditor cannot audit a firm if his/her relative is indebted to the company in excess of ______
• From the following information calculate the amount of sales to earn a desired profit of Rs.12,000 Fixed Cost: 24,000 Selling Price: 10 per unit Variabl...
• To study the trends in a firm’s cost of goods sold (COGS), the analyst should standardize the cost of goods sold numbers to common size basis by dividing...
• DuPont analysis is:
• From the below mentioned, IND AS 16 can be applied to which of the following?
• From the below Ind AS 2 is not applicable in which of the following cases?
• A company uses Raw material A to manufacture finished goods, price of the raw material A is on the decline. The finished goods in which the raw material is...
• If rights and beneficial interest in a property is transferred but documentation and legal formalities are pending then seller & purchaser should record in...
• As per Schedule III of the Companies Act, 2013, long term provisions are shown –
• In case of companies depreciation on assets are provided on the basis of -……
• In the context of filing of financial statements by a company, the term “XBRL” means......................
• Share Options Outstanding Account is shown on the liabilities side in the Balance Sheet under the head:
• The format of the Financial Statement of a company is prescribed in:
• ‘‘Interest accrued & due on debentures’’ is shown ...................... .
• At the balance sheet date, the balance on the Accumulated Provision for Depreciation Account is
• If an employee does not make an intimation to their employer about their selection regarding the tax regime, the employer will:
• Number of days in a month for purposes of computing taxable gratuity in case the employee is covered under the Payment of gratuity Act, 1972, are?
• …………… allowance deduction is allowed only to Government employees.
• CBDT full form:
• Which among the following is a Progressive Tax?
• Which of the following income is agricultural income—
• Section 24 (a) prescribes the standard deduction from NAV of a sum equal to?
• This kind of audit is conducted generally between two annual audit ______.
• Great Insurance Co. Ltd. on 31.12.2022 had reserve for unexpired risk of 5 crores in respect of miscellaneous business. During 2023, the premium collected ...
• Which form is used for preparing the Profit and Loss Account of an General insurance company under the IRDA Regulations, 2002?
• In this reinsurance arrangement, an agreement is made between the ceding company and the reinsurer(s), specifying limits for reinsurances that can pertain ...
• How is the commission on reinsurance accepted typically accounted for by the reinsurer?
• Which of the following is a program that uses a variety of different approaches to identify and eliminate spam?
• In whose favour is the Doctrine of Indoor Management?
• Securities Premium can be used by the company:
•      What does Section 123 of the Companies Act, 2013 primarily deal with?
•      Debenture redemption reserve is transferred to which reserve:
• Which of the following is the regulator of the capital market in India?