For employer, TDS on salary is a/an ……………

Basically accounting process divide in 8 processes, 'IMRCSAIC'. Which one is correctly match about the acronym of 'IMRCSAIC'?

Accounting Information System classify in four steps, i.e. inputs, processing, output & user. Which task belongs to the step of processing?

The double entry system of accounting is based on a set of principles, which are called GAAP. What is the full form of GAAP?

One of the main function and objective of Accounting is to fulfill the statutory requirement of various regulatory bodies such as Registrar of Companies, SEBI, Income Tax authorities and the government. What is the expansion of SEBI?

In which year the ICAI established Accounting Standard Board to bring uniformity in terminology, accounting concepts, conventions and assumptions?

At present there are …….. accounting standards (issued, applicable & mandatory) issued by the ASB of the ICAI.

Which accounting standard was withdrawn pursuant to AS-26 becoming mandatory?

Which accounting standard belongs to cash flow statement?

Which accounting concept defines as: 'The business stands apart from other organizations as an economic unit. It is necessary to record the business's transactions to distinguish them from the owner's personal transactions'?

Which of the following pairs is mismatched?

Purchased goods worth Rs. 40,000 @ 10% Trade Discount and 5% Cash Discount and the amount is paid by cheque. What is the amount of discount recorded in the books?

In case of Pro-rata allotment, which account (other than Bank A/c) need to be debited while making receipt of allotment?

Amount received on right shares transfers to which account?

What is the correct enty in the books of Accounts for the following transaction? Purchased goods worth Rs. 60,000 from M/s Rameshlal & Co. @ 10% Trade discount & @ 3% Cash discount. Half amount is paid by cheque.

Which of the following are include in Equity Shareholders' Funds? I. Equity Share Capital

II. Preference Share Capital

III. Reserve & Surplus

IV. Long-term Funds

Which one is the formula for calculating depreciation?

ABC Co. issued 50,000 equity shares of Rs.10 at par & amount payable Rs. 5 on application, Rs. 3 on allotment & Rs. 2 on first call. All amount received on time except of 500 shares, on which first call amount is not received. Their shares forfeited and re-issued at Rs. 9 per share. What is the entry of forfeiture recored in the books?

Calculate the cost of goods sold. Purchases- Rs.8,00,000 Sales- Rs.12,00,000 Opening stock- Rs.2,00,000 Closing stock- Rs.75,000 Wages- Rs.10,000 Carriages- Rs.12,000

According to the Matching concept, Revenue - ? = Profit. Which one replaced by '?' mark?

Which financial statement represents the accounting equation, Assets = Liabilities + Owner's equity?

Personal income tax should be charged to

In the absence of any provision in the partnership agreement, profits and losses are shared

Shares issued to promoters of the company, crediting the share capital should be debited to

Dr. ..............?................. Cr. Share Capital

The IFRS stands for …………… Financial Reporting …………..