Accounting - Study Mode
[#456] The main aim of . . . . . . . . is to ascertain cost relating to the various activities of the business and to have cost control.
Correct Answer
(B) cost accounting
[#457] In financial statements, adequate disclosure is ensured by companies as per the requirements of: I. management policies II. materiality concept III. disclosure concept IV. relevant provision of the Companies Act V. internal control Of these statements:
Correct Answer
(D) II, III and IV are correct
[#458] Match List-I with List-II and select the correct answer using the options given below the lists: List-I (Types of accounts) List-II (Principles) a. Real Accounts 1. Debit the receiver credit the giver b. Nominal Accounts 2. Debit what comes in credit what goes out c. Personal Accounts 3. Debit all expenses credit all gains
Correct Answer
(C) a-2, b-3, c-1
[#459] If the operating expenses exceed gross profit, the excess is referred to as:
Correct Answer
(B) Operating loss
[#460] Accounting for amalgamation is given in . . . . . . . .
Correct Answer
(A) AS 14