Commerce Test
| Description: Commerce related Test to prepare for various entrance examinations This test consist of 30 Questions to be answered in 25 minutes | |
| Number of Questions: 30 | |
| Created by: Ashok Dhingra | |
| Tags: Commerce Introduction & Double Entry System Depreciation Final Accounts Classification of Income & Expenditure Capital and Revenue Transactions Ratio Analysis Fund Flow Statement Receipts and Payments Accounts & Income and Expenditure Accounts Accounting Principles and Accounting Equation Indian Accounting Standards & International Accounting Standards Committee |
Which of the following is called the backbone of auditing?
Which of the following is a revenue expenditure?
Secrete reserves may result by
Closing stock shown in the trial balance will be carried to
The overall performance of the business unit is measured by ______.
Which of the following ratios is the indicator of the long term solvency of a firm?
Depreciation on fixed asset is a/an
Sale proceeds of grass in case of a sports club is
Goodwill is a/an
Accounting Standard 8 is concerned with the
The credit balance in the income and expenditure account indicates
The accounting standards in India are pescribed by
Income and expenditure account includes figures relating to
Vouching is
The process of checking documentary evidences to ascertain the accuracy of accounting of records is called
Who was insolvent in Garner vs Murray case?
Which of the following should not be shown in the receipts and payments account of a club?
Internal auditor of a company is appointed by the
Audit at the end of the year is called
In a company, auditor's report is required to be submitted to the
The auditor of a company is appointed for a period of
An auditor is a watchdog. This was said in which of the following cases?
The Chartered Accountant Act was passed in
Cost Audit is not necessary for units engaged in
Continuous audit is specially needed for
Annual general meeting of a company is called by the
Realisation account is a
Loss arising due to insolvency of a partner is to be borne by other partner
Statutory audit is compulsory for
A, B, C and D are equal partners. A, B and D die together in a plane crash. This accident results in