10445+ MCQ Questions in english

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10445+ MCQ Questions in english हिन्दी

5517. Which of the following is correct about the 'discounted cash flow' (DCF) approach to valuation?

A. It values a business exclusively based on its past financial performance.

B. It values a business by discounting its future cash flows to present value.

C. It ignores the time value of money.

D. It is mainly applied for valuation of fixed assets.

5516. Which of the following types of income is subject to tax under the head 'Income from Other Sources' in India?

A. Rent from property

B. Revenue from a business or profession

C. Income received in terms of dividends

D. Income received as salary

5515. Which of the following is an example of non-operating income in the profit and loss account?

A. Sales revenue

B. Interest on investment

C. Employee salaries

D. Direct production costs

5514. The accounting concept of 'prudence' prescribes that:

A. All gains must be recognized immediately.

B. Losses be recognized when they are likely, though not as yet realized.

C. All assets be recognized immediately at fair value.

D. Profits be kept within conservative levels.

5513. Which of the following statements is correct regarding 'Deferred Tax Liability' as per Indian Accounting Standards?

A. It occurs when tax payable is more than accounting profit.

B. It refers to those taxes that will be paid in the future on account of temporary differences between accounting profit and taxable income.

C. It occurs on account of permanent differences between accounting profit and taxable income.

D. It represents tax paid in the current year.

5512. What is the main objective of 'Transfer Pricing' regulations in India?

A. To standardize pricing of goods sold within India

B. To prevent tax avoidance by companies with international operations

C. To calculate the customs duties on imported goods

D. To set guidelines for pricing goods and services for export

5511. Which of the following is a non-cash item for statement of cash flows preparation?

A. Depreciation

B. Purchase of fixed assets

C. Repayment of debt

D. Issuance of equity shares

5510. Under the Income Tax Act, 1961, income earned in India is taxed according to:

A. Residential status of the taxpayer

B. Nationality of the taxpayer

C. Place of income generation

D. Place of incorporation of the business

5509. Under the Companies Act, 2013, the appointment of an auditor for a company is made for a term of:

A. 1 year

B. 3 years

C. 5 years

D. 10 years

5508. Which of the following is an example of an intangible asset under Indian accounting standards?

A. Trademark

B. Inventory

C. Building

D. Cash

5507. The 'fair value' of an asset is best described as:

A. The price at which an asset is recorded in the books of accounts.

B. The market value of the asset on the reporting date.

C. The value determined by depreciation methods.

D. The price at which an asset can be bought or sold in an open market.

5506. Which of the following is NOT considered as a part of the cost of inventory under Indian accounting standards?

A. Purchase price

B. Import duties

C. Distribution expenses

D. Transportation costs

5505. Which of the following is a characteristic of 'capital reserves' under Indian GAAP?

A. They are created by the transfer of profits.

B. They are used for distributing dividends.

C. They arise from the revaluation of assets or through capital contributions.

D. They are shown under current liabilities in the balance sheet.

5504. What is the proper accounting for a sale and leaseback transaction?

A. The sale is revenue, and the lease is an operating lease.

B. The sale is treated as a capital expenditure, and the lease is treated as a financial lease.

C. The sale is ignored, and the lease is treated as a finance lease.

D. The leaseback transaction does not affect the financial statements.

5503. The ‘extraordinary items’ in the profit and loss account of a company refer to:

A. Income from normal business operations

B. Unusual and infrequent events affecting the profit of the company

C. Recurring investment income

D. Income generated by normal business operations

5502. Which of the following taxes is levied on the purchase of goods or services under the GST regime?

A. Value Added Tax (VAT)

B. Central Sales Tax (CST)

C. Goods and Services Tax (GST)

D. Excise Duty

5501. Under Indian accounting standards, when is a provision recognized in financial statements?

A. When it is probable that an outflow of resources will be required to settle the obligation.

B. When the company is legally obligated to pay.

C. When a specific amount of liability is determined.

D. When payment is made to settle a liability.

5500. Which of the following is NOT a feature of the IFRS (International Financial Reporting Standards) compared to Indian GAAP?

A. IFRS is principle-based rather than rule-based

B. IFRS has a more comprehensive framework

C. IFRS provides detailed guidance for specific industries

D. IFRS is mandatory for all companies in India

5499. Which of the following ratios measures a company's ability to meet its short-term liabilities?

A. Current ratio

B. Return on assets

C. Inventory turnover ratio

D. Price-to-earnings ratio

5498. The treatment of 'contingent liabilities' is:

A. They are recorded as liabilities in the balance sheet.

B. They are disclosed in the notes to the financial statements.

C. They are capitalized.

D. They are ignored in the financial statements.

5497. According to Indian accounting standards, which of the following is to be disclosed in the annual financial statements?

A. Personal information of directors

B. Auditor's report and opinion

C. Future projects and business strategy

D. Revenue projections for the next 3 years

5496. Which of the following would be an 'event after the reporting period' within the context of Indian Accounting Standards (Ind AS)?

A. A major fraud that occurred after the reporting date

B. A change in accounting estimates

C. A seasonal fluctuation in the market

D. Depreciation on fixed assets

5495. The rate of tax, under the Income Tax Act, 1961, on long-term capital gains received due to the sale of listed equity shares is :

A. 5%

B. 10%

C. 20%

D. 30%

5494. The term 'capital employed' refers to:

A. The total liabilities of a company

B. The total equity and long-term borrowings of a company

C. The total assets of a company

D. The fixed assets of a company

5493. Which of the following represents a company's long-term financing sources?

A. Retained earnings

B. Bank overdraft

C. Trade creditors

D. Short-term bank loans

5492. Which of the following taxes is applicable to the supply of goods and services in India?

A. Excise Duty

B. Service Tax

C. Goods and Services Tax (GST)

D. Value Added Tax (VAT)

5491. Which of the following transactions would result in an increase in a company's liabilities?

A. Repayment of a loan

B. Issuance of share capital

C. Purchase of equipment on credit

D. Depreciation of assets

5490. Which of the following is NOT classified as a non-current asset?

A. Property, plant, and equipment

B. Intangible assets

C. Investments in subsidiary companies

D. Inventory

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10445+ MCQ Questions in english हिन्दी

5517. Which of the following is correct about the 'discounted cash flow' (DCF) approach to valuation?

5516. Which of the following types of income is subject to tax under the head 'Income from Other Sources' in India?

5515. Which of the following is an example of non-operating income in the profit and loss account?

5514. The accounting concept of 'prudence' prescribes that:

5513. Which of the following statements is correct regarding 'Deferred Tax Liability' as per Indian Accounting Standards?

5512. What is the main objective of 'Transfer Pricing' regulations in India?

5511. Which of the following is a non-cash item for statement of cash flows preparation?

5510. Under the Income Tax Act, 1961, income earned in India is taxed according to:

5509. Under the Companies Act, 2013, the appointment of an auditor for a company is made for a term of:

5508. Which of the following is an example of an intangible asset under Indian accounting standards?

5507. The 'fair value' of an asset is best described as:

5506. Which of the following is NOT considered as a part of the cost of inventory under Indian accounting standards?

5505. Which of the following is a characteristic of 'capital reserves' under Indian GAAP?

5504. What is the proper accounting for a sale and leaseback transaction?

5503. The ‘extraordinary items’ in the profit and loss account of a company refer to:

5502. Which of the following taxes is levied on the purchase of goods or services under the GST regime?

5501. Under Indian accounting standards, when is a provision recognized in financial statements?

5500. Which of the following is NOT a feature of the IFRS (International Financial Reporting Standards) compared to Indian GAAP?

5499. Which of the following ratios measures a company's ability to meet its short-term liabilities?

5498. The treatment of 'contingent liabilities' is:

5497. According to Indian accounting standards, which of the following is to be disclosed in the annual financial statements?

5496. Which of the following would be an 'event after the reporting period' within the context of Indian Accounting Standards (Ind AS)?

5495. The rate of tax, under the Income Tax Act, 1961, on long-term capital gains received due to the sale of listed equity shares is :

5494. The term 'capital employed' refers to:

5493. Which of the following represents a company's long-term financing sources?

5492. Which of the following taxes is applicable to the supply of goods and services in India?

5491. Which of the following transactions would result in an increase in a company's liabilities?

5490. Which of the following is NOT classified as a non-current asset?

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