The 'Dividend' is paid on: MCQ with Answer and Explanation

The 'Dividend' is paid on:

A. Called-up capital

B. Authorised capital

C. Paid-up capital

D. Issued capital

Answer: Option C

Dividend is paid on the paid-up share capital, i.e., the amount actually received from shareholders.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1 Report Error

The 'Cryptocurrency' as per Indian laws is:

A. Banned completely

B. Legal tender

C. Not considered legal tender but taxed

D. Only allowed for banks

Correct Answer: Option C

Explanation:
Cryptocurrencies are not legal tender in India but gains are taxed.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2 Report Error

XBRL stands for:

A. Extensible Business Reporting Language

B. External Business Record Language

C. Extended Banking Reporting Ledger

D. Extra Balance and Revenue Ledger

Correct Answer: Option A

Explanation:
XBRL is an open international standard for digital business reporting, tagging financial data for easy automated analysis.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3 Report Error

Under 'Ind AS 21', foreign currency monetary items are translated at:

A. Closing rate

B. Average rate

C. Historical rate

D. Opening rate

Correct Answer: Option A

Explanation:
Monetary items are translated at the closing rate at the reporting date.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping