The 'Margin of Safety' is ₹2,00,000 and the P/V ratio is 25%. The profit is: MCQ with Answer and Explanation
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Question #1
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A 'Trial Balance' is a:
Correct Answer: Option A
Explanation:
Trial Balance is a statement listing all ledger balances to verify arithmetical accuracy.
Trial Balance is a statement listing all ledger balances to verify arithmetical accuracy.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which standard ensures consistency in classifying cash flows from operating, investing, and financing activities in India?
Correct Answer: Option B
Explanation:
Ind AS 7 (equivalent to IAS 7) deals specifically with the preparation and presentation of the Statement of Cash Flows.
Ind AS 7 (equivalent to IAS 7) deals specifically with the preparation and presentation of the Statement of Cash Flows.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which of the following is not a function of cost accounting?
Correct Answer: Option C
Explanation:
Preparation of financial statements is the function of financial accounting, not cost accounting.
Preparation of financial statements is the function of financial accounting, not cost accounting.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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