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- Answered
- Review
- Question 1 of 50
1. Question
1. What is the primary purpose of Accounting Standards (ASs)?
CorrectIncorrect - Question 2 of 50
2. Question
2. Which of the following is NOT a benefit of Accounting Standards?
CorrectIncorrect - Question 3 of 50
3. Question
3. What is a limitation of Accounting Standards?
CorrectIncorrect - Question 4 of 50
4. Question
4. Which body formulates Accounting Standards in India?
CorrectIncorrect - Question 5 of 50
5. Question
5. Which of the following is a step in the formulation of Accounting Standards by ASB?
CorrectIncorrect - Question 6 of 50
6. Question
6. Which entities are required to follow Indian Accounting Standards (Ind AS)?
CorrectIncorrect - Question 7 of 50
7. Question
7. What is the role of the International Financial Reporting Standards (IFRS) in framing Indian Accounting Standards?
CorrectIncorrect - Question 8 of 50
8. Question
8. Which of the following Accounting Standards deals with “Revenue Recognition”?
CorrectIncorrect - Question 9 of 50
9. Question
9. What is the purpose of AS 3 (Revised)?
CorrectIncorrect - Question 10 of 50
10. Question
10. Which Accounting Standard is applicable for “Property, Plant and Equipment”?
CorrectIncorrect - Question 11 of 50
11. Question
11. Which of the following is NOT a category of Accounting Standards in India?
CorrectIncorrect - Question 12 of 50
12. Question
12. What is the primary focus of Accounting Standards for Local Bodies (ASLB)?
CorrectIncorrect - Question 13 of 50
13. Question
13. Which Ind AS corresponds to “Financial Instruments: Disclosures”?
CorrectIncorrect - Question 14 of 50
14. Question
14. Which of the following is a limitation of Accounting Standards?
CorrectIncorrect - Question 15 of 50
15. Question
15. Which of the following is a benefit of Accounting Standards?
CorrectIncorrect - Question 16 of 50
16. Question
16. Which Accounting Standard deals with “Employee Benefits”?
CorrectIncorrect - Question 17 of 50
17. Question
17. What is the purpose of AS 1?
CorrectIncorrect - Question 18 of 50
18. Question
18. Which of the following is a step in the formulation of Accounting Standards?
CorrectIncorrect - Question 19 of 50
19. Question
19. Which Ind AS corresponds to “Leases”?
CorrectIncorrect - Question 20 of 50
20. Question
20. Which of the following is NOT a part of the Accounting Standards framework in India?
CorrectIncorrect - Question 21 of 50
21. Question
21. Which Accounting Standard deals with “Borrowing Costs”?
CorrectIncorrect - Question 22 of 50
22. Question
22. What is the primary objective of standardizing accounting principles?
CorrectIncorrect - Question 23 of 50
23. Question
23. Which of the following is a limitation of Accounting Standards?
CorrectIncorrect - Question 24 of 50
24. Question
24. Which Ind AS corresponds to “Revenue from Contracts with Customers”?
CorrectIncorrect - Question 25 of 50
25. Question
25. Which of the following is a benefit of Accounting Standards?
CorrectIncorrect - Question 26 of 50
26. Question
26. Which Accounting Standard deals with “The Effects of Changes in Foreign Exchange Rates”?
CorrectIncorrect - Question 27 of 50
27. Question
27. Which of the following is a step in the formulation of Accounting Standards?
CorrectIncorrect - Question 28 of 50
28. Question
28. Which Ind AS corresponds to “Financial Instruments”?
CorrectIncorrect - Question 29 of 50
29. Question
29. Which of the following is NOT a benefit of Accounting Standards?
CorrectIncorrect - Question 30 of 50
30. Question
30. Which Accounting Standard deals with “Consolidated Financial Statements”?
CorrectIncorrect - Question 31 of 50
31. Question
31. Which of the following is a limitation of Accounting Standards?
CorrectIncorrect - Question 32 of 50
32. Question
32. Which Ind AS corresponds to “First-Time Adoption of Indian Accounting Standards”?
CorrectIncorrect - Question 33 of 50
33. Question
33. Which of the following is a benefit of Accounting Standards?
CorrectIncorrect - Question 34 of 50
34. Question
34. Which Accounting Standard deals with “Provisions, Contingent Liabilities & Contingent Assets”?
CorrectIncorrect - Question 35 of 50
35. Question
35. Which of the following is a step in the formulation of Accounting Standards?
CorrectIncorrect - Question 36 of 50
36. Question
36. Which Ind AS corresponds to “Property, Plant and Equipment”?
CorrectIncorrect - Question 37 of 50
37. Question
37. Which of the following is NOT a limitation of Accounting Standards?
CorrectIncorrect - Question 38 of 50
38. Question
38. Which Accounting Standard deals with “Earnings Per Share”?
CorrectIncorrect - Question 39 of 50
39. Question
39. Which of the following is a benefit of Accounting Standards?
CorrectIncorrect - Question 40 of 50
40. Question
40. Which Ind AS corresponds to “Income Taxes”?
CorrectIncorrect - Question 41 of 50
41. Question
41. Which of the following is a step in the formulation of Accounting Standards?
CorrectIncorrect - Question 42 of 50
42. Question
42. Which Accounting Standard deals with “Intangible Assets”?
CorrectIncorrect - Question 43 of 50
43. Question
43. Which of the following is a limitation of Accounting Standards?
CorrectIncorrect - Question 44 of 50
44. Question
44. Which Ind AS corresponds to “Impairment of Assets”?
CorrectIncorrect - Question 45 of 50
45. Question
45. Which of the following is a benefit of Accounting Standards?
CorrectIncorrect - Question 46 of 50
46. Question
46. Which Accounting Standard deals with “Accounting for Government Grants”?
CorrectIncorrect - Question 47 of 50
47. Question
47. Which of the following is a step in the formulation of Accounting Standards?
CorrectIncorrect - Question 48 of 50
48. Question
48. Which Ind AS corresponds to “Employee Benefits”?
CorrectIncorrect - Question 49 of 50
49. Question
49. Which of the following is NOT a limitation of Accounting Standards?
CorrectIncorrect - Question 50 of 50
50. Question
50. Which Accounting Standard deals with “Related Party Disclosures”?
CorrectIncorrect
