'AS 9' pertains to: MCQ with Answer and Explanation

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'AS 9' pertains to:

A. Depreciation

B. Inventories

C. Taxes on income

D. Revenue Recognition

Answer: Option D

Solution (By JKSSB Mock Tests)

AS 9 Revenue Recognition provides guidance on when to recognize revenue.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

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A 'Cash Generating Unit' is defined under:

A. AS 28 Impairment of Assets

B. AS 10 Fixed Assets

C. AS 14 Amalgamation

D. AS 2 Inventories

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Correct Answer: Option A

Explanation:
CGU is a concept used in impairment testing under AS 28.

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Question #2

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If a cheque of Rs 1,000 is issued but recorded in the cash column of the Cash Book instead of the bank column, what is the effect on the bank balance?

A. Bank balance in Cash Book is overstated by Rs 1,000

B. Cash balance is overstated

C. Bank balance in Cash Book is understated by Rs 1,000

D. No effect on any balance

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Correct Answer: Option A

Explanation:
Since the bank column was not reduced (credited), the bank balance as per the Cash Book remains artificially high (overstated).

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Question #3

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Which document serves as the basis for recording transactions in the books of accounts?

A. Ledger Account

B. Source Document

C. Financial Statement

D. Trial Balance

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Correct Answer: Option B

Explanation:
Source documents (like invoices, receipts) provide the objective evidence and basic data for preparing accounting vouchers.

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