Only Assets and expenses
Only Liabilities and incomes
Both of the above
None of the above
True
False
Cannot say
None
True
False
True
False
Current liability
Long term liability
Non-current liability
Contingent liability
Extra ordinary profit
Ordinary profit
Capital profit
None of the above
50%
30%
25%
NIL
Yes can be
No it cannot
Yes as per specific company policy
Sometimes
Yes can be
No it should be charged to expense
Salaries and wages of staffs in the R&D Department
Professional fees paid to attorney to register the Insolvency Petition
Cost of a training program for the staff on new technologies
All of the above
When it exceeds 1% of the original asset value
When it exceeds 1% of the original asset value of Rs. 100,000, whichever is higher
When it increases future economic benefit of an existing asset
When cost of the improvement is more than the original asset value
How to recognize lease rental
How to recognize dividend income
How to recognize interest income
All of the above
6 months
1 year
1 month
3 months
Rs. 1020
Rs. 1000
Rs. 980
Rs. 970
When business of the transferor company is intended to be carried on by the transferee company
When 75% of the equity shareholders of the transferor company become shareholders of the transferee company
When all assets and liabilities of the transferor company are transferred to the transferee
All of the above
Rule based standards
Principle based standards
Specific Treatment based standards
Mandatory standards
Rs. 100 crores
Rs. 50 crores
NIL
Rs. 80 crores
At the registered office
At the branch office
In the cloud
At any place provided company informs MCA
At cost
At cost or net realizable value, whichever is lower
At net realizable value
At replacement cost
Rs. 60 lacs
Rs. 30 lacs
Rs. 42 lacs
Rs. 45 lacs
Special Pay
House Rent Allowance
Employer Contribution to PF @ 12% of basic salary
Stock options
Securities Premium
Capital Reserve
Revaluation Reserve
Free Reserve
33.33%
20.66%
15%
17.65%
7 years
5 years
10 years
3 years
Profit & Loss Account
Capital Reserve Account
Bonus to Shareholders Account
Cash Account
Wait!
Here's an interesting quiz for you.