The 'Activity Based Costing' (ABC) is more suitable for: MCQ with Answer and Explanation
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Practice More Accountancy and Book Keeping Questions
Question #1
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The 'Indian Accounting Standards' (Ind AS) are issued by:
Correct Answer: Option C
Explanation:
Ind AS are notified by the Ministry of Corporate Affairs under Companies Act.
Ind AS are notified by the Ministry of Corporate Affairs under Companies Act.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Business Combinations' (Ind AS 103) require acquisition method. It involves:
Correct Answer: Option A
Explanation:
Ind AS 103 mandates the acquisition method for business combinations.
Ind AS 103 mandates the acquisition method for business combinations.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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In a trial balance, if the total of the debit side is ₹50,000 and the credit side is ₹45,000, the difference is placed in:
Correct Answer: Option C
Explanation:
When the trial balance does not tally, the difference is temporarily placed in a Suspense Account to allow the preparation of financial statements.
When the trial balance does not tally, the difference is temporarily placed in a Suspense Account to allow the preparation of financial statements.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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