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You Are On Multi Choice Question Bank SET 2844

142201. If sales is Rs.2,40,000,percentage of gross profit on sales 20%,purchase 1,75000 closing stock Rs 30,Then opening stock will be:





142202. If cost of an asset is Rs.60,000 and life period is 4 years.The rate of depreciation is:





142203. -------------is against the principle of convention of conservation.





142204. The term is used to write off the value of lease hold properties:





142205. Ram sends 50 table fan to Rahim costing Rs.300 per table fan to be sold at 20% above cost price.Sales will be:





142206. Acid test is same as:





142207. Deferred cost is a:





142208. The sale of a business asset on credit is recorded in:





142209. Marshalling of balance sheet means:





142210. Which one of the following is not considered the permanent part of the accounting record?





142211. Error due to wrong allocation as expenditure between capital and revenue is regarded as





142212. Depreciation in spirit is similar to:





142213. The main object of an audit is:





142214. A sale of Rs.50,000 to A was entered as a sale to This is an example of:





142215. Auditing standards differ from audit procedures relates to:





142216. Professional skepticism requires that the auditor assume that management is:





142217. Audit of banks is an example of:





142218. Which of the following schedule of the Companies Act,1956 deals with depreciation?





142219. Which of the following auditing assurance standard deals with audit planning?





142220. Which of the following is a revenue reserve?





142221. Who out of the following cannot be appointed as a statutory auditor of the company?





142222. The branch auditor is appointed by:





142223. The Statutory auditor of a government company submits his report to:





142224. The auditor is most likely to examine related party transactions very carefully while vouching:





142225. The creditors accounts,generally ,have credit balance.Debit balance may be due to:





142226. The time lag between indenting and receiving material is called:





142227. Depreciation is based on:





142228. An endowment insurance policy can be taken in respect of:





142229. Double entry book-keeping was fathered by:





142230. Which of the following ways can be used to create ‘Secret Reserves’?





142231. Which one of the following will lead to understatement of net profit?





142232. The word ‘credit’has been derived from the Latin word ‘credere’ which means:





142233. By-products should be valued at:





142234. Which account is to be prepared when revised values are not to appear in the new balance sheet framed after the retirement or death of a partner?





142235. Payment of the trade creditors would:





142236. Which of the following results in the flow of funds?





142237. Which of the following is the most important reason for studying accounting?





142238. The difference between the balance of a fixed asset a/c and the related accumulated depreciation a/c is termed as:





142239. Propriety audit is normally undertaken by:





142240. Government may order for cost audit under:





142241. Institute of Chartered Accountants of India was established on:





142242. Payment for building purchased should be vouched with the help of:





142243. ”Auditor is not valuer”was started in:





142244. Incomplete contracts should be valued on the basis of:





142245. A government company auditor may be appointed by:





142246. The first auditor of company will hold office:





142247. Labour turnover is measured by:





142248. The allotment of whole items of cost to cost centres or cost units is called:





142249. If an auditor does something wrongfully in the performance of his duties resulting in financial loss to the company he is guilty of:





142250. As an auditor, which of the following documents would you consider most reliable in respect of a receipt from a customer?





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