Total Questions: 60
Total Marks: 78
Total MCQs: 54 (Each of 1 Mark)
Total Short Questions: 3 (Each of 3 Mark)
Total Long Questions: 3 (Each of 5 Mark)
An asset, whose book value is Rs 89000 as discovered by fire after the balance sheet date, Required:
• identify the types of event
• what will be the accounting treatment
What types of provision created to reduce the asset?
List down the items that should be included in Cash flow from financing activities?
Describe the basic terms for meaning the elements of Financial Statement with respect to the IASB’s framework.
• Historical cost
• Current cost
• Realizable cost
if account receivable at beginning Rs 250,000
Account receivable at end 190,000
Credit sale 30,000
Then calculate cash receipts from sale with the help of account receivable ledger account.
What do you know about the administrative cost? Give 3 examples
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