ICWAI - Financial Accounting Paper 5 Online Test

Which of the Following Statement is False about Income and Expenditure Account?


A) Advertisement Expenses is a Deffered Revenue Expenditure if benefit is spread over a long period.

B) Advertisement Expenses is a Revenue Expenditure if benefit is realised in current year only.


Which of the following is a Capital receipt?


Salary Paid during the year: 10000

Salary due in the beginning: 2000

Salary due at the end: 1000

Salary of current year received in previous year: 1000.

From the above details, find salary debited to income and expenditure account?


Bank reconciliation statement is a Part of:


A) Balance sheet is prepared on a Particular date.

B) Balance sheet is prepared for a particular period.


The capital of a Company comprises of equity shares of ` 10 each amounting to ` 10 lakhs and 10% Preference Share of ` 2 lakhs. Profit after tax for the year is ` 4 lakhs. Dividend declared is @ 25% and current market price of Equity Share is 80 each. The Price-earning ratio is


Dual concept in accounting results in the following equation :


Which of the following Statement is False:


Inauguration expenses on opening of a new Branch of an existing business will be


Trial Balance will not disclose errors of omission.



















Description:

Online test for icwai inter stage I students:
Prepared by Kumar Nirmal Prasad
Phone no: 9577097967
website: cptcwa.blogspot.in
dynamictutorial.blogspot.in

Add: Dr N.B. Road Nepali shiv mandir
tinsukia, Assam - 786125

Add: Dr N.B. Road Nepali shiv mandir
tinsukia, Assam - 786125

Add: Dr N.B. Road Nepali shiv mandir
tinsukia, Assam - 786125

Discussion

Jackle Wackle

really tough

2226 days 15 hours 54 minutes ago

kumar nirmal prasad
Dynamic Tutorials and Services
User
37 Followers

Your Facebook Friends on WizIQ

More Tests By Author

ICWAI - Financial Accounting Paper 5
11 Questions | 343 Attempts

ICWAI - Financial Accounting Paper 5
10 Questions | 327 Attempts

ICWAI - Financial Accounting Paper 5
10 Questions | 298 Attempts

Explore Similar Courses

Financial Accounting

Price:$7.755545