2. If the change in the accounting policy has no material effect in the current period and effect is ascertainable in part
Anonymous Quiz
30%
(a) The amount of change should be disclosed
37%
(b) The fact of change should be disclosed
19%
(c) The fact of change should be disclosed
13%
(d) None of these
3. If the change in the accounting policy has no material effect in the current period but which is reasonably excepted to have a material effect in the later periods
Anonymous Quiz
40%
(a) The amount of change should be disclosed
39%
(b) The fact of change should be disclosed
18%
(c) The fact of change should be disclosed
4%
(d) None of these
4. A demand curve parallel to the Y axis implies:
Anonymous Quiz
45%
(a)Ep = 0
31%
(b)Ep = 1
19%
(c)Ep < 1
4%
(d)Ep> 1
5. Generally, when income of consumer increases, he goes in for superior goods, leading to a fall in demand for inferior goods. It means, income elasticity of demand is -
Anonymous Quiz
36%
(a)Less than 1
32%
(b) Unitary
17%
(c)Zero
15%
(d)Negative
Weekly Practice Problem Sheet (12th accountancy) 4rd.pdf
496.9 KB
Weekly Practice Problem Sheet (12th accountancy) 4rd.pdf
1. According to AS 1, Disclosure should be made for
Anonymous Quiz
37%
(a) Fundamental accounting assumption
32%
(b) All accounting principles
15%
(c) All significant accounting policies
16%
(d) All accounting policies
2. Accounting to AS- 1 disclosure should from part of –
Anonymous Quiz
33%
(a) The final Accounts
30%
(b) The Auditor’s Report
21%
(c) The directors Reports
16%
(d) The Books of Accounts
3. According to AS- 1 disclosure should be made –
Anonymous Quiz
26%
(a) In relevant places
21%
(b) At one place
36%
(c) In the profit and loss Account
18%
(d) In the balance sheet
4. A horizontal demand curve parallel to X-axis show that the elasticity of demand is:
Anonymous Quiz
33%
(a) zero
33%
(b) equal to unity
14%
(c) greater to unity
19%
(d) infinite.
5. When the price of commodity increases ` 8 to ` 9, its demand decreases by 10%. The price elasticity of demand for the commodity is:
Anonymous Quiz
34%
(a) 0.8
36%
(b) 0.9
24%
(c) 1.0
6%
(d) 1.1
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