The Margin of Safety is the difference between: MCQ with Answer and Explanation
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Question #1
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Depreciation is provided on:
Correct Answer: Option B
Explanation:
Depreciation is charged on tangible fixed assets like machinery, buildings to reflect wear and tear.
Depreciation is charged on tangible fixed assets like machinery, buildings to reflect wear and tear.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Social accounting is mandatory for:
Correct Answer: Option A
Explanation:
Social accounting is largely voluntary except for some mandated disclosures like CSR.
Social accounting is largely voluntary except for some mandated disclosures like CSR.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Contingent liabilities are shown as a footnote to the balance sheet to comply with which accounting convention?
Correct Answer: Option A
Explanation:
Full disclosure requires all significant information to be completely and fairly disclosed, including contingent liabilities via footnotes.
Full disclosure requires all significant information to be completely and fairly disclosed, including contingent liabilities via footnotes.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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