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For the following questions answer them individually
Closing stock is valued at cost or market price, whichever is
A company’s auditor is expected to give
Name of the board set up by the council of the ICAI to formulate accounting standards.
What does net working capital stand for ?
Identify the items shown under fixed assets in the company’s balance sheet.
A: Patents
B: Investments
C: Work-in-progress
D: Plant and machinery
The company pays its creditors by cheque. What is the effect on assets and liabilities?
Provision for doubtful debts account is a_____ account.
According to Companies Act when the dividend proposals exceed 20% of the Paid Up Capital, the amount to be transferred to reserve shall not be less than
In the balance sheet audit, such audit work as vouching and posting
A person insures his goods worth Rs. 1,000 for Rs. 800 and suffers a loss of Rs. 900. His claim can be for
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