'Calls-in-Arrears' is shown in Balance Sheet by: MCQ with Answer and Explanation
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Question #1
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Which of the following is a type of audit opinion?
Correct Answer: Option C
Explanation:
Auditors can issue unqualified (clean), qualified, adverse, or disclaimer of opinion reports based on their findings.
Auditors can issue unqualified (clean), qualified, adverse, or disclaimer of opinion reports based on their findings.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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S1: In Activity-Based Costing (ABC), a cost driver is a factor that causes a change in the cost of an activity. S2: Transaction drivers are generally more accurate than duration drivers in ABC. Which statement(s) is/are correct?
Correct Answer: Option C
Explanation:
S1 is the correct definition of a cost driver. S2 is incorrect because duration drivers (which measure the time taken) are generally more accurate than transaction drivers (which merely count the number of times an activity occurs), though transaction drivers are cheaper to implement.
S1 is the correct definition of a cost driver. S2 is incorrect because duration drivers (which measure the time taken) are generally more accurate than transaction drivers (which merely count the number of times an activity occurs), though transaction drivers are cheaper to implement.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Financial Reporting' under Ind AS is applicable to companies as per:
Correct Answer: Option A
Explanation:
Ministry of Corporate Affairs notifies Ind AS rules.
Ministry of Corporate Affairs notifies Ind AS rules.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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