Q.83 The Accounting Standard for Depreciation Accounting was made mandatory from:Ans A. 1 April 1999B. 1 April 1991C. 1 April 1995D. 1 April 1993Correct Ans Provided: C

Q.8 The journal entry for the receipt of share application money is:Ans A. Bank A/c … Dr To Share Application A/cB. Share Application A/c … Dr ...

Q.76 Which of the following transactions will be posted on the debit side of the process account?Ans A. Scrap value of normal lossB. Closing work-in-progress of each processC. Total cost of the output transferred to the next processD. ...

Q.14 Total fixed costs are ₹12,000. Contribution is ₹20,000. Number of units sold is 10,000. Variable cost is 60% of sales. Calculate the selling price per unit.Ans A. ₹10B. ₹6C. ₹8D. ₹5Correct Ans Provided: D

Q.22 Which of the following Schedules to the Finance Act specifies the rates of tax applicable to the current assessment year?Ans A. Part II of the Fourth ScheduleB. Part II of the Third ScheduleC. Part I of the ...

Q.26 The scope of the total income of the assessee depends upon which of the following important considerations? I. The residential status of the assessee. II. The place of accrual receipt of income whether actual or deemed. ...

Q.29 AS-2 was introduced for:Ans A. Cash Flow StatementsB. Revenue RecognitionC. Valuation of InventoriesD. Accounting for InvestmentsCorrect Ans Provided: C

Q.36 The company’s discounted equity shares given to its directors or workers are known as:Ans A. Bonus SharesB. Right SharesC. Sweat Equity SharesD. Employee Stock Option PlanCorrect Ans Provided: C

Q.7 From the following data, calculate normal loss in units, and its value for the following process. Input introduced = 2000 unitsOutput transferred to the next process = 1800 unitsNormal loss Avneesh101% of inputWastage ...

Q.81Ans A. (i)-(c), (ii)-(d), (iii)-(b), (iv)-(a)B. (i)-(d), (ii)-(c), (iii)-(b), (iv)-(a)C. (i)-(a), (ii)-(c), (iii)-(b), (iv)-(d)D. (i)-(b), (ii)-(c), (iii)-(d), (iv)-(a)Correct Ans Provided: B