The 'Earnings Per Share' (Ind AS 33) requires disclosure of: MCQ with Answer and Explanation

Question

Share Report Error

The 'Earnings Per Share' (Ind AS 33) requires disclosure of:

A. Cash EPS

B. Diluted EPS only

C. Basic and diluted EPS

D. Basic EPS only

Answer: Option C

Solution (By JKSSB Mock Tests)

Ind AS 33 mandates both basic and diluted EPS for entities whose shares are publicly traded.

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

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Practice More Accountancy and Book Keeping Questions

Question #1

TDS on rent under Section 194I is deducted at:

A. 1%

B. 2%

C. 5% for all

D. 10% for land/building, 2% for plant/machinery

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Correct Answer: Option D

Explanation:
Section 194I: rent for plant/machinery 2%, for land/building/furniture 10%.

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

Question #2

A bank directly credits interest ₹500 and debits charges ₹100. The net effect to be adjusted in cash book while reconciling from cash book to passbook is:

A. Add ₹500 only

B. Add ₹500 and deduct ₹100

C. Deduct ₹400

D. Add ₹400

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Correct Answer: Option D

Explanation:
Net effect = 500 credit - 100 debit = +400. So add ₹400 to cash book balance.

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Question #3

In a journal entry, if an asset is destroyed by fire and fully insured, which account is debited?

A. Asset Account

B. Sales Account

C. Insurance Company (Claim) Account

D. Profit & Loss Account

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Correct Answer: Option C

Explanation:
Because the loss is fully insured, the insurance company becomes a debtor for the claim amount, hence debited.

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

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