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Practice Accounts Questions and Answers

‘‘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?
Which of the following is the correct definition of hedge ratio?
1. Which of the following IND AS deals with revenue from contracts with customers?
The relationship between the operating income and earnings per share is known as
1. If the exchange rate between the Indian Rupee and the Japanese Yen is ₹1 = 1.44 ¥, then 1,000 ¥ equals ₹____.
A company has average account receivables of Rs 120000 and annual credit sales of Rs 600000, Calculate the average collection period (assume number o...
1. A trader wants to hedge their portfolio, which has a value of 20,00,000 by using S&P 500 futures contracts. The current price of one S&P 500 futu...
1. What is the lock-in period for ELSS (Equity Linked Savings Scheme) to be eligible for a deduction under Section 80C of the Income Tax Act in Indi...
A Credit Note is the basis for recording a transaction in which of the following?
A mutual fund has the following assets and liabilities: Assets: Stocks: $100 million Bonds: $50 million Cash: $10 million Liabilities: A...
If Selling Price is 9 per unit, variable cost is 5 per unit and fixed O/H absorption rate is 1.5 per unit, what is the break even point in Qty if the budge...
Classify the following under the respective head in balance sheet: Items: I. Current maturities of long-term debt II. Debentures III. Uncalled lia...
Which of the following portals was recently launched by IRDAI for grievance redressal?
What is the primary purpose of the "Canon of financial propriety"?
Which of the following is a key principle of the "Canon of financial propriety"?
What best describes a Bank Guarantee?
In a Bank Guarantee transaction, which parties are typically involved?
What is the primary purpose of a Bank Guarantee?
What is the key function of a Letter of Credit (LC) in international trade?
In a Letter of Credit (LC) transaction, which entities typically play a role in addition to the issuing bank, advising bank, and beneficiary?
Which is not a characteristic of corporate social responsibility?

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