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

Question

Share Report Error

'AS 9' pertains to:

A. Revenue Recognition

B. Depreciation

C. Taxes on income

D. Inventories

Answer: Option A

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

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1

Share Report

A Trial Balance shows a difference of ₹5,000 debit side excess. This difference is transferred to:

A. Suspense A/c (Credit)

B. Profit & Loss A/c

C. Suspense A/c (Debit)

D. Capital A/c

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
If debit side is more, credit side is short. To balance, Suspense Account is credited. So, Suspense A/c (Credit) ₹5,000.

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

Question #2

Share Report

A 'Sleeping Partner' is one who:

A. Manages the firm

B. Has unlimited liability only

C. Guarantees profits

D. Invests capital but does not take part in day-to-day management

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Sleeping or dormant partner contributes capital but does not participate in management.

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

Question #3

Share Report

The 'Internal Financial Controls' reporting is required under:

A. GST Act

B. Section 143(3)(i) of Companies Act, 2013

C. CARO 2020

D. Income Tax Act

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option B

Explanation:
Auditor's report must state whether the company has adequate internal financial controls system.

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

Explore All Accountancy and Book Keeping MCQs