The 'Contract Costs' under Ind AS 115 include: MCQ with Answer and Explanation
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Question #1
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An unregistered partnership firm cannot sue third parties, but:
Correct Answer: Option A
Explanation:
An unregistered firm cannot sue, but third parties can sue the firm.
An unregistered firm cannot sue, but third parties can sue the firm.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Composition Scheme' under GST is not available to a:
Correct Answer: Option A
Explanation:
Composition scheme for services is restricted. The general scheme for goods allows manufacturers and traders.
Composition scheme for services is restricted. The general scheme for goods allows manufacturers and traders.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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S1: SEBI regulates the primary and secondary capital markets in India. S2: SEBI was established by a legislative act of Parliament. Which statement(s) is/are correct?
Correct Answer: Option C
Explanation:
SEBI regulates both primary (new issues) and secondary (trading) markets to protect investors. It was initially established in 1988 and later given statutory powers through the SEBI Act, 1992. Both statements are correct.
SEBI regulates both primary (new issues) and secondary (trading) markets to protect investors. It was initially established in 1988 and later given statutory powers through the SEBI Act, 1992. Both statements are correct.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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