Practice Accounts Questions and Answers

• According to section 11 of the Indian Contract Act agreement with a minor is:
• Calculate the number of employees in the beginning and at the end of the year from the following information. Labor turnover rate = 2% No. of employees at ...
• During the year 2016-17, the profit of the business before charging manager's commission was Rs. 1,89,000. If the manager's commission is 5% after charging...
• When the financial statements "give a true and fair view" and the organization under audit has gone in accordance with all requirements, the auditor will i...
• Which item of revenue of the following is covered under Accounting Standard-9?
• According to Companies Act 2013, the first annual general meeting should be held within a period of ________ from the date of closing of the first financia...
• If a company sells its receivable to another party for collection, it is known as:
• As per Section 63(1), a company can issue fully paid up bonus shares to its members out of:
• Government company is defined under which section?
• X & Y share profits in the ratio of 1: 4. Z has been admitted with ½ shares in profits. What will be the new profit sharing ratio of the partners? ...
• Section 126 of the Indian Contract Act refers to:
• NOI approach advocates that the degree of debt financing is:
• Calculate the value of work certified, if cash received is Rs. 480,000, being 80% of work certified.
• In case of amalgamation in the nature of purchase, the excess of purchase consideration over the net assets is debited to:
• What is the maximum age of Presiding Officer of Tribunal under Employees Provident Fund and Miscellaneous Act?
• GK Ltd. forfeited 500 shares of Rs. 10 each, fully called up, and held by Mr. Rakesh for non-payment of allotment money of Rs. 4 per share and first and fi...
• When shares are issued by a company to its employees or its directors, either at a discount or for consideration other than cash, for providing know-how is...
• Which of the following sectors does NOT apply operating costing technique?
• Within how many days an employee can apply for gratuity from the date when gratuity becomes payable?
• SA 230 standard refers to:
• When the liquidation expenses are paid and borne by the transferee company, which of the following entry is made in the books of transferor company?
• An implied contract is created by the:
• From the following data calculate Labor rate variance. Actual production = 1000 units. Actual hours = 15,300. Actual rate = Rs. 3.90 per hour, Standard rat...
• Which Ind AS deals with Revenue from Contracts with Customers?
• Which ICDS deals with Accounting Policies?
• Which ICDS deals with Accounting Policies?
• GSTN is a?
• What is the taxable event under GST?
• A supply comprising of two or more supplies shall be treated as the supply of that particular supply that attracts the highest rate of tax.
• In case a company considers a discounting factor higher than the cost of capital for arriving at present values, the present values of cash inflows will be...
• Which of the following accounting rules can roughly estimate how many years a given sum of money must earn at a given compound annual interest rate in orde...
• Which of the following accounting rules can roughly estimate how many years a given sum of money must earn at a given compound annual interest rate in orde...
• Capital structure of a firm influences the:
• What method is used to calculate the Sensex and Nifty indices in India?
• This kind of audit is conducted generally between two annual audits is known as which among the following?
• 1  Auditing begins where ______ ends.
• The audit that is made compulsory under statute is called _________.
• ICDS IV primarily deals with which aspect of financial reporting
• Which among the following ratios will be affected because of salaries paid in cash as advance salary?
• Which of the following is NOT an advantage of Bonus issue by a company?