A company's preliminary expenses written off is shown in: MCQ with Answer and Explanation
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Question #1
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A 'High Debtors Turnover Ratio' indicates:
Correct Answer: Option A
Explanation:
Higher ratio means faster collection of receivables.
Higher ratio means faster collection of receivables.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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S1: Cost audit is mandatory for all companies in India. S2: Cost audit is conducted to verify the accuracy of cost records. Which statement(s) is/are correct?
Correct Answer: Option D
Explanation:
Cost audit is not mandatory for all companies; it is only required for specific classes of companies (like those in regulated sectors or manufacturing) as prescribed by the Central Government. S2 is correct as it verifies cost records. S1 is incorrect.
Cost audit is not mandatory for all companies; it is only required for specific classes of companies (like those in regulated sectors or manufacturing) as prescribed by the Central Government. S2 is correct as it verifies cost records. S1 is incorrect.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Group Engagement Partner' is responsible for:
Correct Answer: Option A
Explanation:
The engagement partner takes overall responsibility.
The engagement partner takes overall responsibility.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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