Description : The capital at the end of the accounting year is ascertained by preparing ___________
Last Answer : The capital at the end of the accounting year is ascertained by preparing ___________ (a) ... Debtors Account (d) Opening Statement of Affairs
Description : The difference between the capital at the end of the year and capital at the beginning of the year is called __________
Last Answer : The difference between the capital at the end of the year and capital at the beginning of the year is ... (b) Income (c) Drawings (d) Expenses
Description : An investor, while reading the financial statements of Star Corporation, learned that the statements are accompanied by an unqualified auditor's report. From this the investor may conclude that: a ... but not necessarily in the notes to financial statements are to be regarded as reasonably adequate
Last Answer : Any disputes over significant accounting issues have been settled to the auditor's satisfaction.
Description : Customs and traditions which guide the accountants to prepare accounting statements are called __________
Last Answer : Customs and traditions which guide the accountants to prepare accounting statements are called __________ (a) ... (c) Concepts (d) Procedure
Description : Under single Entry system, Profit = Closing Capital less __________
Last Answer : Under single Entry system, Profit = Closing Capital less __________ (a) Opening Capital (b) ... Assets (c) Opening Liabilities (d) Drawings
Description : If closing capital is ₹ 30,000 and profit is ₹ 5,000 opening capital was __________
Last Answer : If closing capital is ₹ 30,000 and profit is ₹ 5,000 opening capital was __________ (a) ₹ 35,000 (b) ₹ 30,000 (c) ₹ 25,000 (d) ₹ 15,000
Description : If errors occur in the recording process, they a. should be corrected as adjustments at the end of the period. b. should be corrected as soon as they are discovered. c. should be corrected when preparing closing entries. d. cannot be corrected until the next accounting period.
Last Answer : b. should be corrected as soon as they are discovered.
Description : The two optional steps in the accounting cycle are preparing a. a post-closing trial balance and reversing entries. b. a worksheet and post-closing trial balances. c. reversing entries and a worksheet. d. an adjusted trial balance and a post-closing trial balance.
Last Answer : c. reversing entries and a worksheet.
Description : he step in the accounting cycle that is performed on a periodic basis (i.e., monthly, quarterly) is a. analyzing transactions. b. journalizing and posting adjusting entries. c. preparing a post-closing trial balance. d. posting to ledger accounts.
Last Answer : b. journalizing and posting adjusting entries.
Description : Which one of the following is usually prepared only at the end of a company's annual accounting period? a. Preparing financial statements b. Journalizing and posting adjusting entries c. Journalizing and posting closing entries d. Preparing an adjusted trial balance
Last Answer : c. Journalizing and posting closing entries
Description : If the pointer of the synchroscope is rotating in the slow direction when you are preparing to parallel two alternators, the _____________. A. incoming machine is turning faster than the load alternator B ... alternator is ready to split D. incoming machine is beginning to pick up some of the load
Last Answer : Answer: B
Description : How is the weather for a spread-out town ascertained?
Last Answer : In a major city the highs and lows and rain fall are measured at the airport.
Description : In the speed of rotation of earth decreases, the weight of the body will a.Decrease b.Remain unaltered c.Depends on speed ratio d.Cannot be ascertained on the basis the information given e.Increase
Last Answer : c. Depends on speed ratio
Description : By which can Foetus development in woman’s womb be ascertained? -Do You Know?
Last Answer : answer:
Description : By which can Foetus development in woman’s womb be ascertained?
Last Answer : By Ultrasound
Description : The function of a court of justice is a) To ascertain the existence or non existence of certain facts b) To apply the substantive law to ascertained facts c) Declare the rights and liability of parties d) All the above
Last Answer : d) All the above
Description : The ascertained weight of the insured article noted against the entry in the regd /parcel list. a) Should be initialed by the PA/SA b) Initial is not necessary c) Initialed by both PA & PM d) None of these
Last Answer : a) Should be initialed by the PA/SA
Description : During levelling if back sight is more than foresight (A) The forward staff is at lower point (B) The back staff is at lower point (C) The difference in level, cannot be ascertained (D) None of these
Last Answer : (B) The back staff is at lower point
Description : Select the correct statement. . A) Contour interval on any map is kept constant. (B) Direct method of contouring is cheaper than indirect method. (C) Intervisibility of points on a contour map cannot be ascertained. (D) Slope of a hill cannot be determined with the help of contours.
Last Answer : (A) Contour interval on any map is kept constant.
Description : Age of a tree may be ascertained by (A) Radius of its stem (B) Circumference of its stem (C) Number of branches (D) Number of annual rings
Last Answer : Answer: Option D
Description : The depth of the ground water table may be ascertained by (A) Looking through the well in the vicinity (B) Standing on the well in the vicinity (C) Measuring the depth of water in the well (D) None of the abov
Last Answer : Answer: Option C
Description : Cost Unit is defined as: (a) Unit of quantity of product, service or time in relation to which costs may be ascertained or expressed (b) A location, person or an item ... the responsibility of generating and maximising profits (d) Centres concerned with earning an adequate return on investment
Last Answer : Unit of quantity of product, service or time in relation to which costs may be ascertained or expressed
Description : Density of each compacted layer should be ascertained by taking soil samples on either side of Central Line at a) 5 meter interval b) 10 meter interval* c) 12 meter interval d) 15 meter internal
Last Answer : b) 10 meter interval*
Description : Sense of territoriality and the ensuing awareness of autonomy were the main factors responsible for the __________
Last Answer : Sense of territoriality and the ensuing awareness of autonomy were the main factors responsible for ... d) formation of ancient janapadas in India.
Description : Regional Zones were called __________
Last Answer : Regional Zones were called __________ (a) Sabha (b) Sangharajya (c) Khanda (d) Mahajanpada
Description : In ancient Indian literature, the post of secretary is referred as __________
Last Answer : In ancient Indian literature, the post of secretary is referred as __________ (a) Sachiva (b) Scribae (c) Secretarius
Description : The function of a secretary to look after the inward and outward mail is called __________
Last Answer : The function of a secretary to look after the inward and outward mail is called __________ (a) Reception (b) Statutory (c) Correspondence
Description : In ancient Indian history, secretary was referred to as __________
Last Answer : In ancient Indian history, secretary was referred to as __________ (a) Scribae (b) Secretarius (c) Amatya
Description : A list of balances of all the accounts in ledger is called __________
Last Answer : A list of balances of all the accounts in ledger is called __________ (a) Balance Sheet (b) Profit and ... c (c) Trading A/c (d) Trial Balance
Description : The ancient civilisations of Mesopotamia and Harappa had cultural ties with each other because of __________
Last Answer : Choose the correct reason and complete the sentence: The ancient civilisations of Mesopotamia and ... were found (d) impressive town planning
Description : The first settlement of the Early Harappan period was established __________
Last Answer : Choose the correct reason and complete the sentence: The first settlement of the Early Harappan period was established ... .E (d) around 3300 B.C.E
Description : The evidence of the first excavations at Harappa had indicated __________
Last Answer : Choose the correct reason and complete the sentence: The evidence of the first excavations at Harappa ... (d) the decline of Harappan civilisation.
Description : By the amount of depreciation the value of asset __________
Last Answer : By the amount of depreciation the value of asset __________ (a) decreases (b) increases (c) becomes zero (d) remains constant
Description : Lothal was excavated by __________
Last Answer : Lothal was excavated by __________ (a) J. P. Joshi (b) S. R. Rao (c) R. D. Banerjee (d) Madho Swarup
Description : Left hand side of an account is called __________
Last Answer : Left hand side of an account is called __________ (a) Credit (b) Debit (c) Middle (d) Centre
Description : Financial statements are a part of __________
Last Answer : Financial statements are a part of __________ (a) Book keeping (b) Planning (c) Accounting (d) None of these
Description : Amount withdrawn by the owner for his personal expenses is called __________ (a) Drawings (b) Personal expenses (c) Cash (d) Assets
Last Answer : Amount withdrawn by the owner for his personal expenses is called __________ (a) Drawings (b) Personal expenses (c) Cash (d) Assets
Description : In cash transaction, goods or services are exchanged for __________
Last Answer : In cash transaction, goods or services are exchanged for __________ (a) other goods (b) other services (c) immediate cash (d) grains
Description : Audit programs are modified to suit the circumstances on particular engagements. A complete audit program for an engagement generally should be developed a. Prior to beginning the actual audit work. ... the client's accounting records and procedures. d. When the audit engagement letter is prepared
Last Answer : After the auditor has completed an evaluation of the existing internal accounting contro
Description : Correcting entries are made a. at the beginning of an accounting period. b. at the end of an accounting period. c. whenever an error is discovered. d. after closing entries.
Last Answer : c. whenever an error is discovered.
Description : . A Local Authority is preparing cash Budget for its refuse disposal department. Which of the following items would not be included in the cash budget? (a) Capital cost of a new collection vehicle (b) Depreciation of the machinery (c) Operatives wages (d) Fuel for the collection
Last Answer : (b) Depreciation of the machinery
Description : Imran made a profit of 20 percent in the first year. Next year he had a loss of 25 percent on the capital hehad at the beginning of second year. What was his overall loss? A. 12 percent B. 10 percent C. 5 percent D. No loss
Last Answer : ANSWER: C
Description : Math Problems Imran made a profit of 20 percent in the first year. Next year he had a loss of 25 percent on the capital hehad at the beginning of second year. What was his overall loss? A. 12 percent B. 10 percent C. 5 percent D. No loss
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 the Accounting equation ? (A) Capital = Assets – Liabilities (B) Capital = Assets + Liabilities (C) Assets = Liabilities – Capital (D) Liabilities = Assets – Capital
Last Answer : Answer: Capital = Assets – Liabilities
Description : In accounting terms, what constitutes the 'closing stock'? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment - Capital Losses
Last Answer : (4) Opening Stock + Net Investment - Capital Losses Explanation: Closing stock refers to the goods remaining un-sold during the year. It includes finished products, raw materials, or work in progress ... with the following calculation: Opening stock + Purchases - Closing stock = Cost of goods sold.
Description : A sound capital budgeting technique is based on: A. Cash Flows B. Accounting Profit C. Interest rate on borrowings D. Last dividend paid
Last Answer : A. Cash Flows
Description : The estimated benefits from a capital budgeting project are expected as cash flows rather than income flows because . A. it is more difficult to calculate income flows than cash flows B. it ... is central to the firm's capital budgeting decision C. this is required by the accounting profession
Last Answer : B. it is cash, not accounting income, that is central to the firm's capital budgeting decision
Description : In proper capital budgeting analysis we evaluate incremental cash flows. A. accounting B. operating C. before-tax D. financing
Last Answer : B. operating
Description : All of the following conditions are indicators of possible pressures on an entity except a. The industry in which the entity operates is declining. b. There is inadequate working capital ... products or customers. d. There is a significant and prolonged understaffing of the accounting department
Last Answer : There is a significant and prolonged understaffing of the accounting department