157/23

48.

49.

50.

51.

52.

53.

54.

55.

Which of the following statements relating to the concept of ‘Equity’ is right ?
i. Net worth of an organization.

ii. Residual value of Assets over liabilities.

iii. Net asset of an entity.

iv. Gross total asset of an entity.

A) Only (i, ii, and iv) B) Only (i, iii and iv)

C) Only (i, ii and iii) D) Only (ii, iii and iv)

Which of the following is not a method for calculating Purchase Consideration ?
A) Lump Sum Method B) Net Asset Method

C) Present Value Method D) Intrinsic Value Method

Ind-AS 19 deals with

A) Property Plant and Equipment B) Impairment of Assets

C) Borrowing Costs D) Employee Benefits

On corporate liquidation, which of the following sources are available for the payment
to preferential creditors ?

i. The proceeds of the assets not specifically pledged.
ii. Surplus from the assets specifically pledged.
iii. The amount contributed by the contributories.
A) All of the above (i, ii and iii) B) Only (i and ii)
C) Only (i and iii) D) Only (ii and iii)
Opening capital Rs. 50,000, Closing capital Rs. 60,000, Additional capital Rs. 5,000
and Drawings Rs. 10,000. Profit is
A) 15,000 B) 25,000 C) 5,000 D) None of the above

What is the role of revenue profit in the computation of cost of control of a parent
company ?

A) Totally included B) Totally rejected

C) Partly included D) Optional

Among the following options which one is not a contingent liability ?
A) Uncalled amount on partly paid investment

B) Arrear cumulative preference dividend

C) Claim against the company acknowledged as debt

D) Liability in respect of bill discounted not yet due

Stock insured for Rs. 1,20,000, stock in hand was Rs. 1,80,000 and stock destroyed
is estimated to Rs. 60,000. What would be the admitted claim ?
A) 60,000 B) 40,000 C) 1,20,000 D) 90,000

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