Commerce
| Description: This test consist of 30 questions to answered in 25 minutes | |
| Number of Questions: 30 | |
| Created by: Vijay Palan | |
| Tags: commerce for PCS Indian Accounting Standards & International Accounting Standards Committee Inventory Valuation and Control Accounting Principles and Accounting Equation Mgt. Accounting and Business Finance Introduction & Double Entry System Debentures Final Accounts |
Valuation of Inventory is dealt with in
The term 'Inventory' includes any tangible items held
Accounting Standard on Inventory Valuation is not applicable to
Accounting Standard on Inventory valuation is not applicable to
Qualitative transactions are not recorded in accounts due to
Window dressing is prohibited due to
Net working capital stands for
Concept of Realisation implies
Which of the following are current assets?
Which of the following are not current assets?
Convertible debentures are those on which
Which of the following is not the current liabilities?
Which of the following is classified as an operating expense?
Which of the following is a non-operating expense?
Insurance unexpired account is a
Bank account is a
Goodwill account is a
According to Accounting Standard-2, inventory is to be valued at
Provisions for doubtful debts accounts is a
Purchase account is a
Contingent liability is shown due to
Rent received by the trading company is Rs. 500. It should be treated as a/an
An Accounting convention which provides that when in doubt, choose the solution which will be least likely to overstate assets and income, is called
Accounting Standards set by Accounting Standard Board of India are
Accounting Standard Board was set up by the
The owner of a company included his personal medical expenses in the company's income statements. Indicate the accounting principle that is violated.
Which of the following is an operating revenue?
Which of the following are current liabilities?
Which of the following is a non-operating income?
Which of the following is an operating expense?