Practice Accounts Questions and Answers

•      Which of the following is the correct definition of hedge ratio?
• 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
• 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...
•  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 futures cont...
• 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 India?
• 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?
• ___________, the greater will be its social prestige.
• CSR is a _________.
• Which of the following banking transactions involves the lending of money to individuals or businesses in exchange for interest payments and the promise of...
• What type of banking transaction allows customers to earn interest on their deposited funds and provides easy access to their money for daily expenses?
• When a customer deposits a check into their bank account, what type of transaction is taking place?
• Which banking transaction involves the transfer of funds from one bank account to another electronically, often used for paying bills or making purchases?
• What type of banking transaction allows a customer to temporarily invest their money with the bank in exchange for higher interest rates, but with limited ...
• What banking transaction involves the exchange of one currency for another at the prevailing exchange rate?
• Which banking transaction provides a secure location for customers to store valuable items such as documents, jewelry, or collectibles?
• What type of banking transaction allows customers to invest in a diverse portfolio of stocks, bonds, and other securities?
• What does a SWIFT Code primarily identify in international banking transactions?
• In international wire transfers, which role does a SWIFT Code play for the sender and the beneficiary?
• What was a significant factor contributing to the decline in Average Revenue per User (ARPU) in the Indian telecom industry?
• Which major factor led to high levels of debt among Indian telecom operators?
• Which telecom operator consolidation occurred in the Indian telecom industry, leading to a reduced number of major players?
• What was a key issue related to regulatory challenges in the Indian telecom industry?
• What is the main focus of Railtel Corporation of India?
• What does the term "NEFT" stand for in the context of Indian banking?
• What is the maximum limit for insurance coverage provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC) in India?
• What is the purpose of a "CIBIL score" in the context of banking in India?