The 'Fair Value Measurement' (Ind AS 113) defines fair value as: MCQ with Answer and Explanation
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Question #1
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The primary objective of PFMS in India is to facilitate:
Correct Answer: Option C
Explanation:
PFMS ensures transparency, tracking of fund utilization down to the lowest level, and Direct Benefit Transfers directly into beneficiaries' accounts.
PFMS ensures transparency, tracking of fund utilization down to the lowest level, and Direct Benefit Transfers directly into beneficiaries' accounts.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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A 'Voucher' that records a transaction involving both cash and bank is called:
Correct Answer: Option C
Explanation:
Contra vouchers record transactions like cash deposited into bank or withdrawn from bank.
Contra vouchers record transactions like cash deposited into bank or withdrawn from bank.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Bank column of cash book always shows a debit balance if there is:
Correct Answer: Option B
Explanation:
A debit balance in bank column means money in bank (favourable balance). Overdraft is credit balance.
A debit balance in bank column means money in bank (favourable balance). Overdraft is credit balance.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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