The 'Share Based Payments' (Ind AS 102) require equity-settled transactions to be measured at: MCQ with Answer and Explanation

Question
The 'Share Based Payments' (Ind AS 102) require equity-settled transactions to be measured at:
A. Intrinsic value
B. Nominal value
C. Market price on grant date only
D. Fair value of goods/services received, or if not reliably determinable, fair value of equity instruments granted
Answer: Option D
Solution (By JKSSB Mock Tests)
Equity-settled share-based payments are measured at fair value.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Question #1
Goods returned by customers are recorded in:
A. Cash book
B. Sales returns book
C. Bills receivable book
D. Purchase returns book
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Correct Answer: Option B

Explanation:
Sales returns or returns inward book records goods returned by customers.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
The term 'Test of Details' in audit refers to:
A. Testing the internal controls
B. Issuing the audit report
C. Testing the details of transactions and balances
D. Planning the audit
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Correct Answer: Option C

Explanation:
Tests of details involve examining the underlying documentation for specific transactions and account balances to verify their accuracy.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
'Internal Control' is the responsibility of:
A. Management
B. Shareholders
C. Government
D. Auditor
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Correct Answer: Option A

Explanation:
Management is responsible for establishing and maintaining internal controls.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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