Accounting - Study Mode

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[#1421] The technique of performance appraisal management is

(A) To motivate the employees

(B) To find out the qualifications of the employeess

(C) Promotion of employees

(D) To find out the difficulties of the employee

Correct Answer

(C) Promotion of employees

[#1422] Statement I If an entity holds directly/indirectly 50% or more of the voting power of the investee, it is presumed thus such entity has significant influence. Statement II AS-24 deals with related party disclosures. Which of the following is/are correct?

(A) Only statement I is true

(B) Only statement II is true

(C) Both statements are true

(D) Both statements are false

Correct Answer

(B) Only statement II is true

[#1423] The inter-se-relations of the partners between themselves is that of

(A) family friends

(B) business associates

(C) agents of each other

(D) close relatives

Correct Answer

(C) agents of each other

[#1424] What items of inventories are outside the scope of AS-2? 1. Work-in-progress arising under construction contracts. 2. Raw materials including maintenance supplies. 3. Share, debentures held as stock-in-trade. 4. Machinery spares exclusively used with fixed assets. Select the correct answer:

(A) 1, 3 and 4

(B) 1, 2 and 4

(C) 2, 3 and 4

(D) All of these

Correct Answer

(A) 1, 3 and 4

[#1425] A club received the following donation in the year ending 31 st March, 2004. 31 st March, 2003 31 st March, 2004 Outstanding Donation Rs. 19,500 Rs. 25,500 Advance Donation Rs. 12,800 Rs. 9,500 The donation received in the year 2003 - 04 were Rs. 2,45,000. The club donation income for 2003 - 04 was

(A) Rs. 2,63,800

(B) Rs. 2,80,000

(C) Rs. 2,47,700

(D) Rs. 2,84,000

Correct Answer

(A) Rs. 2,63,800