Valuation of inventory is dealt with in
| A. | AS-1 |
| B. | AS-2 |
| C. | AS-3 |
| D. | AS-4 |
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Option: B Explanation : Click on Discuss to view users comments. |
| A. | Assets = Liabilities + Capital |
| B. | Capital = Assets - Liabilities |
| C. | Liabilities = Assets - Capital |
| D. | Liabilities = Assets + Capital |
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Option: D Explanation : Click on Discuss to view users comments. |
| A. |
Such expenses are taken to Profit and Loss Account in part every year and thus unwritten off portion may be allowed to stand in the balance sheet on the asset side.
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| B. |
Such expenses are charged fully to the Profit and Loss Account of the year in which these are incurred.
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| C. | Either (A) or (B) |
| D. | None of the above |
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Option: A Explanation : Click on Discuss to view users comments. |
| A. | Revenue arising from construction contracts |
| B. |
Revenue arising from hire-purchase, lease agreements
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| C. |
Revenue arising from governments grants and other similar subsidies
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| D. | All of the above |
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Option: D Explanation : Click on Discuss to view users comments. |
| A. |
Forests, plantations and similar regenerative natural resources
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| B. |
Wasting assets and expenditure on research and development
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| C. | Goodwill and livestock |
| D. | All of the above |
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Option: D Explanation : Click on Discuss to view users comments. |
