Description : Exchange rate is the rate at which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction.
Last Answer : FALSE
Description : Non-monetary items which are carried in terms of historical cost denominated in a foreign currency should be reported using the exchange rate at the date of the ___________ (a) Balance Sheet (b) Transaction (c) Settlement (d) None of the above
Last Answer : b) Transaction
Description : Amount of calls in advance is treated as a) Secured creditor b) Preferential creditor c) Asset not specifically pledged d) Unsecured creditor
Last Answer : b) Preferential creditor
Description : A foreign currency transaction should be recorded, on initial recognition in the reporting currency, by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the recording.
Description : If the intrinsic values of shares exchanged are not equal, the difference is paid in ........... (A) Cash (B) Debenture (C) Pref. share (D)Assets
Last Answer : (A) Cash
Description : Kirti Co’s Balance Sheet shows Fixed Asset Rs. 3,60,000. At the time of absorption calculation of Net Assets is 10% less than the market value, then market value of such fixed assets is ............ (A) Rs. 3,24,000 (B) Rs. 4,00,000 (C) Rs. 4,20,000 (D) None of these
Last Answer : (B) Rs. 4,00,000
Description : LLP is governed by a) Partnership Act , 1932 b) Companies Act , 1956 c) Limited Liability Partnership Act , 2008 d) Companies Act , 2013
Last Answer : c) Limited Liability Partnership Act , 2008
Description : At least of the designated partners of every limited liability partnership shall be a resident in India. a) One b) Two c) Three d) Seven
Last Answer : c) Three
Description : Every partner of a limited liability partnership must have a minimum of Contribution of Rs. 1 Lakh.
Description : Every Limited Liability Partnership must have at least two partners but there is no maximum limit on the numbers of partners.
Last Answer : TRUE
Description : The liability of each partner is limited to his agreed contribution in the Limited Liability Partnership.
Description : A LLP is a new form of legal business entity with unlimited liability.
Description : Every partner of a limited liability partnership must have a minimum of Contribution of Rs. 1 Lakh
Description : Liability for compensation under Workmen’s Compensation Act is treated a) Secured creditor b) Preferential creditor c) Over – riding preferential creditor d) Unsecured creditor
Last Answer : Over – riding preferential creditor
Description : A past member is not liable to make a contribution if liability was contracted after he ceased to be a member.
Description : The contingent liability denominated in foreign currency at the balance sheet date is disclosed by using the ____________ rate.
Last Answer : Closing
Description : The contingent liability denominated in foreign currency at the balance sheet date is disclosed by using the __________ (a) Average Rate (b) Closing Rate (c) Non-monetary Rate (d) Monetary Rate
Description : When the purchasing company does not take over a particular liability and the vendor company pays that liability, it will debit it to______ (A) Realisation Account (B) Bank Account (D) Liability Account (D) Creditors Account
Last Answer : (A) Realisation Account
Description : Following is not a fixed asset - (A) Goodwill (B) Loose Tools (C) Copyright (D) Livestock
Last Answer : B) Loose Tools
Description : In computing purchase consideration by ‘net asset method’ all assets including fictitious assets should be considered.
Description : A foreign currency transaction arises when an enterprise buys or sells goods or services whose price is denominated in the reporting currency.
Description : Closing rate is the exchange rate at the close of the date on which a transaction takes place
Description : If a customer agrees to retain merchandise that is defective because the seller is willing to reduce the selling price, this transaction is known as a sales a. discount. b. return. c. contra asset. d. allowance.
Last Answer : b. return.
Description : ___________ items are assets and liabilities other than monetary items.
Last Answer : Non-monetary,
Description : Which of the following statement is correct? (A) The amount of Goodwill or Capital Reserve is recorded in the books of purchasing company only (B) The amount of Goodwill or Capital ... value of shares of purchasing company will be taken in to account while calculating purchase consideration.
Last Answer : The amount of Goodwill or Capital Reserve is recorded in the books of purchasing company only
Description : The asset, the amount of which can be realized within a period of one year are known as ---------------- a) Current liability b) Current asset c) Liquid liability d) Fixed asset
Last Answer : b) Current asset
Description : The original amount of preference share capital should be transferred to ............ account in the time of amalgamation in the books of vendor co. (A) Preference shareholders Account (B) Capital Reserve Account (C) Equity share capital Account (D) Equity share capital Account
Last Answer : (A) Preference shareholders Account
Description : Surplus , if any , from the creditors having been secured on the assets specially pledged , is added to the estimated realisable value of the assets not specifically pledged.
Description : Intrinsic value of each equity shares of the vendor company is Rs. 250 and that of the purchasing company is Rs. 400. The exchange ratio of shares on the basis of intrinsic value is - (A) 2:1 (B) 8:8 (C) 8:5 (D) None of the above
Last Answer : (C) 8:5
Description : If the market price of the shares to be given for Purchase Consideration at the time of absorption, ............ of the share is to be determined (A) Fair Value (B) Face Value (C) Intrinsic Value (D) Yield Value
Last Answer : (C) Intrinsic Value
Description : The shares received from the new company is recorded at________ (A) Face value (B) Market value (C) Average price (D) None of these
Last Answer : (B) Market value
Description : Shares received from the new company are recorded at - (A) Face value (B) Average price (C) Market value (D) None of the above
Last Answer : (C) Market value
Description : While calculating purchase price, the following values of assets are considered (A) Book value (B) Revised Value
Last Answer : (B) Revised Value
Description : best test to detect age of gestation is -LMP -U.S.
Last Answer : U.S.
Description : yo presented by hx of syncope when he do excurses and there was hix of same complain when he on rest . and there is chest pain on ex. There was ejection systolic murmur ... t changing and there is lf atrium enlargement Aortic stenosis p.s hypertrophic cardiomyopathy constrictive cardiomyopathy
Last Answer : Aortic stenosis
Description : The closing entry process consists of closing a. all asset and liability accounts. b. out the retained earnings account. c. all permanent accounts. d. all temporary accounts.
Last Answer : d. all temporary accounts.
Description : Excess of current asset over current liability is known as ------------- a) Gross working capital b) Net working capital c) Average working capital d) None of these
Last Answer : a) Gross working capital
Description : An appropriation of profit is --------------------- a) Current asset b) Non current asset c) Provision for taxation d) Non current liability
Last Answer : c) Provision for taxation
Description : Proposed dividend is a-------- a) Current liability b) Current asset c) Noncurrent liability d) Expense
Last Answer : a) Current liability
Description : Stock and prepaid expanses are not included in ---------------- a) Current asset b) Fixed asset c) Current liability d) Quick asset
Last Answer : d) Quick asset
Description : he ratio of current asset to currnt liability is known as -------------- a) Liquid ratio b) Current ratio c) Absolute liquid ratio d) Turn over ratio
Last Answer : b) Current ratio
Description : ibuprofen is contraindicated in -htn -dm -peptic ulcer
Last Answer : peptic ulcer
Description : Most benign cause of postmenopausal bleeding Cervical polyp Atrophic vaginitis 112-Pt came by hx os sudden eye pain burning vision photophobia and by ex. Small pupil and keretic cell on cornea and cell in humorus Ttt Cyclospoine + corticosteroid
Last Answer : Cyclospoine + corticosteroid
Description : CHILD with eczema on 1% hydrocortisone what other medication u can add Dexamethazon Cyclosporine Tacrolimus
Last Answer : Tacrolimus
Description : polycythemia vera ttt: -Myelosupression -Plephotomy -X ray therapy ______________
Last Answer : Plephotomy
Description : Adult P.t recived a vaccine ( i don't remeber the name ) After that he complain of itching , tachycardia and SOB What is the ttt? IV hydrocortizone 500 mg SC epinephrine
Last Answer : SC epinephrine
Description : old, black macule on his back with irregular border and color variation : - Sq cell carcinoma - Basal cell carcinoma - Melanoma - Acanthic keratosis
Last Answer : Melanoma
Description : to increase absorption of oral iron , give with: - Vit C - Vit E - Zinc - Ca - Antacid
Last Answer : Vit C