The 'Financial Reporting' under Ind AS is applicable to companies as per: MCQ with Answer and Explanation
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Question #1
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In the context of PFMS, the 'Aadhaar Enabled Payment System' (AePS) allows which of the following basic transactions?
Correct Answer: Option A
Explanation:
AePS allows basic banking transactions like Balance Inquiry, Cash Withdrawal, and Mini Statement using Aadhaar authentication. Cash Deposit is generally not supported through AePS micro-ATMs.
AePS allows basic banking transactions like Balance Inquiry, Cash Withdrawal, and Mini Statement using Aadhaar authentication. Cash Deposit is generally not supported through AePS micro-ATMs.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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In the context of single entry system, 'Net Worth' means:
Correct Answer: Option D
Explanation:
Net worth = Total assets - Total liabilities, representing owner's equity.
Net worth = Total assets - Total liabilities, representing owner's equity.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Time of Supply' for goods under GST is earliest of:
Correct Answer: Option B
Explanation:
Time of supply is the earlier of invoice date or receipt of payment.
Time of supply is the earlier of invoice date or receipt of payment.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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