Description : The error of omission is disclosed by the Trial Balance.
Last Answer : State whether the following statement are True or False with reason : The error of omission is disclosed by the Trial Balance.
Description : Errors of principle are not disclosed by the Trial Balance.
Last Answer : State whether the following statement are True or False with reason : Errors of principle are not disclosed by the Trial Balance.
Description : Closing stock appearing in the Trial Balance is shown in– (A) Balance Sheet only (B) Trading Account only (C) Trading Account and Balance Sheet both (D) None of the above
Last Answer : Answer: Balance Sheet only
Description : A CPA in public practice shall not disclose any confidential client information without the specific consent of the client. The confidentiality rule is violated if CPA disclosed information without client' ... s largest stockholder. d. Complaint filed with the trial board of the Board of Accountancy
Last Answer : Request by client's largest stockholder.
Description : (i) ___________ sided errors affect the total of Trial Balance.
Last Answer : Complete the following sentences : (i) ___________ sided errors affect the total of Trial ... Sales book is corrected by _______ Sales Account.
Description : One sided errors are disclosed by ________
Last Answer : One sided errors are disclosed by ________ (a) Trial Balance (b) Suspense Account (c) Journal (d) Ledger Account
Description : Interest payments on loans borrowed abroad are recorded in A. Capital Account B. Current Accounts C. errors and Omission Section D. Official Reserve Account
Last Answer : Current Accounts
Description : Transactions with related parties are important to the auditors because they will be disclosed in the financial statements if material. Generally accepted accounting principles would not require disclosure of ... transactions, including peso amounts. d. The amounts due from and to related parties
Last Answer : Loans to officers during the year which had been repaid before the balance sheet date
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 : If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which ... year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250
Last Answer : Answer: Rs. 12,500
Description : Balance of Debenture Redemption Fund Account is transferred to– (A) Capital Reserve A/c (B) Profit and Loss A/c (C) General Reserve A/c (D) None of these
Last Answer : Answer: General Reserve A/c
Description : Government grants related to income as per the Accounting Standard (AS)-12 should be- (A) Presented as a credit in the statement of Profit and Loss (B) Presented as a deferred income on the asset ... of balance sheet (D) Presented both in the Profit and Loss statement and in the balance sheet
Last Answer : Answer: Presented both in the Profit and Loss statement and in the balance sheet
Description : Which of the following is affected by treatment of an accrued item in accounting ? (A) Profit and Loss A/c only (B) Profit and Loss Appropriation A/c (C) Balance Sheet only (D) Profit and Loss A/c and Balance Sheet
Last Answer : Answer: Profit and Loss A/c and Balance Sheet
Description : Donations received for the special purpose will be taken to the– (A) Income and Expenditure Account (B) Assets side of the Balance Sheet (C) Liabilities side of the Balance Sheet (D) Receipts and Payments Account
Last Answer : Answer: Liabilities side of the Balance Sheet
Description : On the admission of a partner, fictitious assets are– (A) Transferred to Revaluation Account (B) Transferred to Capital Account (C) Transferred to Reserves (D) Shown in the new Balance Sheet
Last Answer : Answer: Transferred to Revaluation Account
Description : In common size Balance Sheet analysis we evaluate– (A) Increase or decrease over two years is analysed (B) Only increase over two years is analysed (C) Only decrease over two years is analysed (D) All assets and liabilities are expressed in terms of percentage of total
Last Answer : Answer: All assets and liabilities are expressed in terms of percentage of total
Description : According to Balance Sheet equation concept, the capital will be– (A) Capital = Liabilities – Assets (B) Capital = Fixed Assets – Current Assests (C) Capital = Assets – Liabilities (D) Capital = Assets + Liabilities
Last Answer : Answer: Capital = Assets – Liabilities
Description : X Ltd. purchased a car from Maruti Udyog Ltd. for Rs. 5,00,000. As per agreement Rs. 80,000 was to be paid in cash and the balance by issue of shares of Rs. 10 each at a premium of Rs. 5 per share. How many ... . for the car ? (A) 30,000 shares (B) 29,000 shares (C) 28,500 shares (D) 28,000 shares
Last Answer : Answer: 28,000 shares
Description : Under vouching, checking is done of– (A) Journal and Ledger (B) Profit and Loss Account (C) Balance Sheet (D) All of the above
Last Answer : Answer: All of the above
Description : Total sales is Rs. 7,60,000, cash sales Rs. 30,000 collection period is 25 days, debtors at Balance Sheet date will be– (A) Rs. 80,000 (B) Rs. 70,000 (C) Rs. 60,000 (D) Rs. 50,000
Last Answer : Answer: Rs. 50,000
Description : Which statement is not true in respect of a Balance Sheet ? (A) It is an account (B) It is prepared every month (C) It is prepared to check the mathematical accuracy (D) All the above
Last Answer : Answer: All the above
Description : The balance appearing in the books of a company at the end of year were CRR A/c Rs. 50,000, Security Premium Rs. 5,000, Revaluation Reserve Rs. 20,000, P & L A/c (Dr) Rs. 10,000. Maximum amount available for distribution of ... will be- (A) Rs. 50,000 (B) Rs. 55,000 (C) Rs. 45,000 (D) Rs. 57,000
Last Answer : Answer: Rs. 55,000
Description : What is a Balance Sheet?
Last Answer : It is the statement of account which is prepared at the end of every financial year. It gives the total picture of business at the point of time.
Description : Maintenance of intended delegation requires that decisions lying within the individual managers' authority should be made by them and not referred upwards in the organizational hierarchy. This is ... scalar principle (C) authority level principle (D) principle of absoluteness of responsibility
Last Answer : Answer: authority level principle
Description : Principle of ‘Unity of Command’ means– (A) Unity of directions (B) To receive orders from one officer only (C) A fixed place for every person (D) Proper delegation to subordinates
Last Answer : Answer: To receive orders from one officer only
Description : ‘Carrot and Stick’ principle is given in Theory– (A) McGregor Theory X (B) McGregor Theory Y (C) William Ouchi Theory Z (D) None of the above
Last Answer : Answer: William Ouchi Theory Z
Description : The principle of ‘Unity of Command’ was introduced by– (A) Elton Mayo (B) Henry Fayol (C) F. W. Taylor (D) Urwick
Last Answer : Answer: Henry Fayol
Description : What is the theory of social responsibility that focuses on how companies respond to issues, rather than trying to determine their ultimate social responsibility, called ? (A) Corporate social performance (B) Corporate social responsiveness (C) Stewardship principle (D) Enlightened self-interest
Last Answer : Answer: Corporate social performance
Description : The ‘Principle of Exception’ states that management should– (A) Check everything without exception (B) Invariably take corrective action without exception (C) Accept exceptions in emergencies (D) Concentrate their attention on exceptions
Last Answer : Answer: Concentrate their attention on exceptions
Description : Fire Insurance is based on the principle of– (A) Utmost Good faith (B) Insurable Interest (C) Indemnity (D) Cooperation
Last Answer : Answer: Indemnity
Description : Recording of capital contributed by the owner as liability ensures the adherence of principle of– (A) Consistency (B) Going concern (C) Separate entity (D) Materiality
Last Answer : Answer: Separate entity
Description : The profit of a company (whose capital is divided into 25‚000 shares of Rs. 10 each) for the last three years are : Rs. 50‚000; Rs. 60‚000 and Rs. 40‚000. The fair return on investment is taken at 10% p.a. The value of company’s share will be– (A) Rs. 10 (B) Rs. 20 (C) Rs. 30 (D) Rs. 40
Last Answer : Answer: Rs. 20
Description : The Meeting of Board of Directors must be called at least once– (A) In four months (B) In three months (C) In two months (D) In one month
Last Answer : Answer: In three months
Description : When three sugar mills combine, it is an example of– (A) Vertical combination (B) Horizontal combination (C) Diagonal combination (D) None of the above
Last Answer : Answer: Horizontal combination
Description : Which of the following statements about respiratory acidosis are true? A. Compensation occurs by a shift of chloride out of the red blood cells. B. Renal compensation occurs rapidly. C. Retention of ... of respiratory acidosis. E. The ratio of bicarbonate to carbonic acid is less than 20:1.
Last Answer : Answer: CE DISCUSSION: Renal compensation for acute hypoventilation is relatively slow. Depression of the respiratory center by morphine can lead to respiratory acidosis. Renal retention of bicarbonate, ... into red cells combine to increase the ratio of bicarbonate to carbonic acid to 20:1
Description : Following acute haemorrhage, the following compensatory mechanisms occur: a. increased chemoreceptor discharge b. increased level of circulating angiotensin II c. vasoconstriction of renal efferent arterioles d. all above
Last Answer : all above
Description : Travelling allowance may be considered as ------------- a. Special allowance b. Compensatory Allowance c. Both
Last Answer : b. Compensatory Allowance
Description : When the nurse observes that the patient's systolic blood pressure is less than 80-90 mm Hg, respirations are rapid and shallow, heart rate is over 150 beats per minute, and ... d) Irreversible In refractory or irreversible shock, the patient requires complete mechanical and pharmacologic support.
Last Answer : a) Compensatory In compensatory shock, the patient’s blood pressure is normal, respirations are above 20, and heart rate is above 100 but below 150.
Description : When patient bites in protrusion with complete dentures you notice that the posterior teeth do not meet, what would you do to solve this: A. Increase the compensatory curve B. Decrease the angle of the occlusal plane
Last Answer : A. Increase the compensatory curve
Description : Which is true for existing Economic and Industrial policies of Indian Government ? (i) FERA was abolished (ii) MRTP was abolished (iii) Cash compensatory support for export was abolished (iv) Industrial Licensing (except a few ... (iii) and (iv) C. Only (iii) and (iv) D. Only (ii) and (iii)
Last Answer : C. Only (iii) and (iv)
Description : Export incentives taxable under this head includes a) Cash Compensatory Support b) Duty Drawback c) Profit on transfer of DPEB d) All of the above
Last Answer : d) All of the above
Description : The most important reason for the thiazides being only moderately efficacious diuretics is: A. About 9/10th of glomerular filtrate is reabsorbed proximal to their site of action B. Compensatory ... these drugs C. They decrease glomerular filtration D. They have relatively flat dose response curve
Last Answer : A. About 9/10th of glomerular filtrate is reabsorbed proximal to their site of action
Description : (i) Question 6. The disagreement of Trial Balance indicates that an ___________ has been committed.
Last Answer : Complete the following sentences : (i) Question 6. The disagreement of Trial Balance indicates ... (v) Rectification entries are passed in ________
Description : If the trial balance shows a short credit the suspense account will have a _______ balance.
Last Answer : If the trial balance shows a short credit the suspense account will have a _______ balance. (a) debit (b) zero (c) credit (d) nil
Description : If the trial balance does not agree the difference of the trial balance is placed in _______ account.
Last Answer : If the trial balance does not agree the difference of the trial balance is placed in _______ account. ... ) Suspense (c) Rectification (d) Real
Description : Where does carriage inwards go to in the trial balance?
Last Answer : What is the answer ?
Description : What is Accounts Payable considered a on the Trial Balance?
Last Answer : what is it best to receive before paying and invoice
Description : The post-closing trial balance contains only a. income statement accounts. b. balance sheet accounts. c. balance sheet and income statement accounts. d. income statement, balance sheet, and retained earnings statement account
Last Answer : b. balance sheet accounts.
Description : he steps in the preparation of a worksheet do not include a. analyzing documentary evidence. b. preparing a trial balance on the worksheet. c. entering the adjustments in the adjustment columns. d. entering adjusted balances in the adjusted trial balance columns.
Last Answer : a. analyzing documentary evidence.