Repairs incurred before using a second-hand van purchased recently is a

Which Accounting Convention states that accounting practices should remain unchanged from time to time?

Which Accounting Standard deals with revenue recognition?

Revenue received from the sale of goods is treated as an earth ings during the period in which

Dividend declared by Board of Directors in between two An- nual General Body meeting is known as :

A predetermined cost of an activity, operation or process established as a basis for control and reporting is known as

Amount collected by a company as Security Premium should be used to

If the rate of gross profit is 20% on cost of goods sold and the sales is Rs. 1,00,000, the amount of gross profit will be

Under Single Entry System, the amount of opening stock can be ascertained by preparing a/an

Donations received by Non-profit-making Organizations for a special purpose will be taken to the

Preliminary expenses are transferred by the vendor company at the time of absorption to

Reduction of share capital requires the permission of

Loss sufferred from the date of acquisition of business to the date of incorporation should be debited to

The shares issued as part of capitalisation of reserves

The balance of the Debenture Sinking Fund account after to demption of debentures is transferred to

A right of one person to satisfy a claim against another by holding or retaining the posession of others property is termed as

The balance in the Share Forfeited Account after the reissue of forfeited shares is transferred to

If vendors are issued fully paid shares of Rs. 1,00,000 in con- sideration of net asset worth Rs.85,000, the balance of Rs. 15,000 will be debited to

Per unit fixed cost

An irrecoverable cost which is caused by complete abandonment of a plant :

On replacement of an asset, any amount realised on account of sale of old materials is credited to

As per IRDA regulations, an Insurance company is required to prepare :

Provision for doubtful debts in case of standard asset is to be made at

Rebate on bills discounted for a banking company is

Reversionary bonus is the bonus payable by the insurance company

Policy maturing only on the death of the insured is termed as

Under Merrick's multiple piece rate system, 110% of ordinary piece rate is given to workers whose level of performance is between

Labour turnover is calculated by

Wages sheet is prepared by the

Which method of valuing material issue is suitable for materials purchased for a particular work or job ?

FIFO method of valuing material issues is suitable in times of :

Quantity of material to be ordered at one time is known as :

Which method of costing is used in a definery?

Margin of safety is referred to as

The break - even point is the point at which

To obtain break-even point in rupee sales value, total fixed cost is divided by

The most important criterion for distinguishing between scrap, byproduct and joint products is :

Where actual loss in a process is less than the anticipated loss, the difference between the two is considered to be :

The costing method in which each job is treated as a cost unit to which all costs are assigned is :

Expenses which are not actually incurred, but is included for taking managerial decisions are called

What is the basis of apportionment of creche expenses ?

A An amount of Rs. 450/- received from a customer was posted to the credit side of his account as Rs.415.00. This is an error of ?

A trial balance lists the balances of all ledger account and the ?

Stock-in-trade is valued at ?

Depreciation of fixed asset is?

The maker of a bill of exchange is called ?

A credit note is sent by the ?

The entry for canceling wrongly allowed to a customer is first entered in the ?

Written evidence for a payment in cash is called ?

When proprietor takes goods for personal use the account is debited to ?