The 'Value in Use' calculation uses: MCQ with Answer and Explanation

Question
The 'Value in Use' calculation uses:
A. Only current cash flows
B. Market price
C. Present value of estimated future cash flows expected from the asset/CGU
D. Replacement cost
Answer: Option C
Solution (By JKSSB Mock Tests)
Value in use is the discounted present value of future cash flows.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Practice More Accountancy and Book Keeping Questions

Question #1
'Benami Transactions' are prohibited under:
A. Income Tax Act
B. GST Act
C. Companies Act
D. Benami Transactions (Prohibition) Act, 1988
Discuss
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Correct Answer: Option D

Explanation:
Benami property transactions are illegal under the Benami Act.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
In the Indian Financial System, Treasury Bills (T-Bills) are issued by:
A. SEBI
B. State Governments
C. RBI on behalf of the Central Government
D. Commercial Banks
Discuss
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Correct Answer: Option C

Explanation:
T-Bills are short-term debt instruments issued by the Reserve Bank of India on behalf of the Government of India to meet short-term liquidity needs.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
The 'Statement of Changes in Equity' as per Ind AS 1 includes:
A. Only reserves
B. Only share capital
C. Only dividends
D. Total comprehensive income, transactions with owners, and reconciliation of equity components
Discuss
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Correct Answer: Option D

Explanation:
It shows all changes in equity, including profit/loss, OCI, capital transactions, dividends.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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