Practice Accounts Questions and Answers

• In which situation flow of funds does not happen?
• Which transaction results in flow of funds?
• What does Standard Costing help in?
• Standard Price (Standard Quantity – Actual Quantity) = ____________.
• Rs 9,00,000 incurred on advertising to introduce a new product line is a:
• Which of the following is a representative personal account?
• ____________ = (sales value – variable cost)/ Sales value
• When is a Suspense Account opened?
• Which of the following is NOT an indicator of over capitalization?
• WhatsApp / Hike Messenger is an example of:
• Which section of the Companies Act 2013 says, as a statutory requirement, the Audit committee of the company or the Board shall, in consultation with the I...
• The company should file form _______ with the board resolution and with prescribed fee to the Central Government for appointment of the cost auditor.
• One of the approaches of Working Capital Management, where the company takes a strategy by which it finances all funds requirements with long-term funds fo...
• According to Companies Act 2013, what does OPC stand for?
• Debt financing is sometimes preferred by the corporate due to the fact that:
• Which of the following is true about sales tax and VAT?
• In working capital management, the period of continuing flow of cash to suppliers, to inventories, to accounts receivable and back into cash is known as:
• Which of the following techniques was developed by Kaplan and Norton?
• Determining the present value of a future amount in financial sense is known as:
• ___________ implies the overall market risk that affects all securities and cannot be diversified away.
• A share is quoted at Rs. 60. An investor expects the company to pay a dividend of Rs. 3 per share, one year from now. The expected price of share after one...
• Which among the following is not an Audit technique?
• Under Section 205-A, unpaid dividends shall be transferred to Special Dividend's Account after the expiry period of declaration of such dividend. What is t...
• What does Sec 2(i) of the Indian Contract Act deal with?
• ORACLE is an example of:
• Calculate the expected rate of return on the entire portfolio, if the risk-free rate is 6% and the expected rate of return on market portfolio is 15%. ...
• The Audit undertaken to check the implications of the top management decisions, having a financial bearing is otherwise known as:
• What is the time limit for filing revised return at present?
• A trader sells entire raw material to a manufacturer of finished products in the same state. He buys his stock in trade from other states as well as from t...
• If a corporate assessee has paid Rs. 15,000 as excess service tax during the previous half-year ending period, this excess amount can be adjusted against i...
• In respect of income from house property, the collection charges are allowed up to a maximum of:
• According to the Standards of Auditing, the "Documentation" aspect is dealt with:
• A project can be accepted if:
• Deduction in respect of royalty income of authors under Chapter VI is allowed under Section:
• Accruals are recorded in the books of accounts through:
• An individual who wants to be a resident of India U/S6(1) must stay in India for at least:
• _________ is a method to sell securities to the existing shareholders of a company.
• Which among the following is primarily not a Refinancing Financial Institution?
• Digital signature, one of the important components of e-commerce is defined according to Section _________ of Information Technology Act, 2000.
• In financial terms, ___________ enables the analysts to identify slow paying debtors. (Pick the most appropriate option in line with the spirit of the ques...