Q.75 Transaction not deemed to be a speculative transaction includes which of the following? I. Hedging contract in respect of raw materials or merchandiseII. Hedging contract in respect of stocks and shares III. Forward contractIV. Trading ...
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Q.5 Ankita drives 32 km east and takes a left turn. She then drives for 16 km before making a sharp turn towards the right. After driving for 10 km, Ankita takes a left turn and drives for ...
Q.63 As per AS-9, revenue does NOT include:Ans A. income from sale of goods and servicesB. income from rendering servicesC. income from interest, dividend and royaltiesD. income from salaryCorrect Ans Provided: D
Q.11 The Trial Balance of ABC Ltd. shows the balance of machinery as ₹5,60,000 as on 31 March 2022. The company uses the written down value method to calculate the 10% annual rate of depreciation for machinery. After ...
Q.71 ______ as a method of cost ascertainment is employed in industries where production is continuous and involves a sequence of different and distinct operations and is undertaken for stock and sale.Ans A. Process costingB. Batch costingC. Marginal ...
Q.28 Calculate the margin of safety from the following particulars: Profit = ₹2,400 and P/V ratio = 60%Ans A. ₹6,000B. ₹14,000C. ₹24,000D. ₹4,000Correct Ans Provided: D
Q.68 Residential status of the assessee is defined under which of the following Sections?Ans A. Section 6B. Section 7C. Section 5D. Section 4Correct Ans Provided: A
Q.19 Following are examples of items that do not form part of revenue for the purpose of AS-9. Which of the following is an exception?Ans A. Revenue from lease agreementB. Revenue from dividendsC. Revenue from construction contractsD. Revenue ...
Q.88 The journal entry for transfer of excess application money towards allotment money is:Ans A. Share Application A/c … Dr To Share Allotment A/cB. Share Capital A/c … Dr ...
Q.90 Which of the following transactions will be posted on the credit side of the process account?Ans A. Cost of labour incurred in that processB. Cost of material usedC. Direct expenses incurred in that processD. Cost of abnormal ...
