As per guidelines given in Schedule III of Companies Act, which of the following shall be classified as Tangible asset? 1 Land and Buildings 2 Plant and Equipment and vehicles 3 Furniture and Fixtures; 4 Goodwill

Goods and Services Tax (GST) allows set-off for the tax paid on the inputs and this is given effect through the ______ against the amount of a dealer's output tax.

To meet the changing needs of management functions, the management accountancy involves developing which of the following? 1) financial accounting, 2) cost accounting, 3) tax accounting 4) marketing systems

Depending on the type and nature of the product, the costing method adopted by organisations are different. Which of the following is such method? 1 Job costing 2 Batch costing 3 Operation costing 4 Costing for profit or profit costing

Read the statements regarding distinction between a partnership firm and a limited liability company and find out which is True and which is false? 1. Registration of a Partnership firm is optional. Registration of a company is compulsory 2. Max of twenty members in a partnership and max 200 in a private limited company 3 Liability of partners is unlimited and liability of a shareholder is limited to the face value of shares held by him. 4 In partnership, ownership and management rest with the partners. In a company there is a separation of ownership and management.

Which of the following items is not included in the prescribed format of the Statement of Profit and Loss of a company as per Schedule III of Companies Act?

Read the statements below regarding provision of Income Tax applicable to Hindu undivided family? 1 Under Hindu Law, an HUF is a family which consists of all persons lineally descended from a common ancestor and includes their wives and unmarried daughters. 2 An HUF cannot be created under a contract but is created automatically in a Hindu Family. 3 Jain and Sikh families are treated as HUF under the Act 4 Jains and Sikh families are governed by the Hindu Law.

The adjustment entries are required mainly to comply with Indian Accounting Standard IndAS1, which states an entity shall prepare its financial statements, using the accrual basis of accounting.

Which of the following items are to be excluded from value of the purchases (1) purchase returns (2) goods withdrawn by partners for personal use (3) goods received on consignment basis (4) goods received by way of free samples.

The wage rates estimated to be paid to different grades of labour used for performing particular types of operations in the production process are known as?

A financial contract between two parties by which they agree to settle between them, the interest differential on a notional principal on a one-time future settlement date for a specified future period is known as?

Fill in the blanks in the following statements related to classification of movement of assets and liabilities for funds flow statement? 1 Increase in reserves is ____ of funds 2 Decrease in long term borrowing is ___ of funds 3 Increase in current assets is ____ of funds 4 Decrease in equity is ___ of funds

The customer keeps some amount of money, out of the progressive bill payments, with himself to ensure that the work is carried out as per the plan agreed to in the contract and that there are no defects in the end work. These pending payments are known as?

A furniture manufacturing firm estimated the price and quantity of wood and quantity of steel to be used in manufacturing a chair. Price was estimated Rs.500 for wood and Rs.600 for steel. Quantity was estimated at 4 cubic feet of wood and 6 Kg of steel. After 15 days when the review was done, it was found that quantity used for wood was 4.5 cubic feet and of steel 5.5 Kg. Calculate material use variance?

Which of the following statement is not true regarding closing stock?

As per RBI guidelines, bank Boards may examine the feasibility of prescribing how many stints of service in the internal audit function for those staff possessing specialized knowledge useful for the audit function.

A scheme framed by a company under which the company grants a right without an obligation, to an employee to apply for shares of the company at a pre-determined price, is called?

A derivative instruments used to purchase and/or sell a currency or commodity for settlement on a future date at a pre-decided price is known as?

XYZ had total refined oil production during the month of April of 2000 tons. The unrefined oil used in the production was 2040 tons. If the total cost during the month, including the cost of unrefined oil used was Rs.20 crore, what is the cost of one ton of refined oil, assuming that no scrap is generated?

What is the maximum extent up to which a company can issue equity shares without voting rights?