FIP

Redemption can be done

• Out of profits

• Issuing new shares

• Conversion

• All of the above

Which section deals with redemption of preference shares

• Sec 55

• Sec 56

• Sec 57

• Sec 58

Trial Balance is:

• Point Statement

• Period Statement

• Performance statement

• Positional statement

Which one is not an example of internal user of accounting information ?

• Government

• Management

• CEO

• CFO

Which concept says that accounting should be free from bias?

In which schedule of companies act 2013 financial statements are mentioned

• Schedule III

• Schedule II

• Schedule I

• Schedule V

Cost is classified into:

• Cost and expense
• Expense and revenue
• Indirect expense and Overheads
• Direct cost and Indirect cost

The value of money is considered to have static value as the transaction are recorded at the value on the transaction date- The following statement is limitation of which principle?

• Business entity

• Dual Aspect

• Money Measurement

• Prudence

Cost unit is calculated as

• Total Expense/Quantity
• Quantity/Total Cost
• Total Cost/Quantity
• Quantity/Total Expense

Any amounts owed by a business and reported on the balance sheet are referred to as ________________.

• assets
• liabilities
• profit
• expenses