The 'Interim Financial Reporting' (Ind AS 34) suggests that the same accounting policies should be applied as in annual statements. This is an application of: MCQ with Answer and Explanation

Explanation:
For a sole trader, income tax is a personal expense. Paying it from business funds is treated as Drawings.

Explanation:
When there is a shortage of a material and the actual mix is altered, the Material Mix Variance must be calculated using the Revised Standard Mix, not the original standard mix.

Explanation:
Cash Book is a book of original entry and a ledger account. Its balance represents cash in hand, which is always a debit balance (asset).