Top 50+ Solved Accounting Standard MCQ Questions Answer
Q. AS -20 deals with presentation and Computation of---------------
a. earnings per share
b. profit sharing ratio
c. rate of interest
d. solvency
Q. Earning per share is very important financial ratio is computed for assessingthe state of --------------price of shares.
a. Market
b. area
c. shops
d. none of these
Q. Right issue generally made at a price lower that…………….value of shares.
a. Fair
b. fixed
c. computing
d. fluctuating
Q. Impairment assets is nothing but………………….in the value of assets
a. decrease
b. increase
c. fixed
d. none of these
Q. Recoverable amount of an asset isof selling price and value of an assets in use.
a. higher
b. lower
c. a and d only
d. fixed
Q. As per AS architects services are not included in construction contract.
a. false
b. true
c. may be true
d. both a and b
Q. As per AS 7 Research and Development cost is to be excluded from contractcost .
a. true
b. false
c. may be false
d. neither a nor b
Q. AS – 7 deals with accounting for Government grants.
a. false
b. true
c. may be true
d. neither true nor false
Q. As per AS 15 accumulated compensated absences can be carried forward ifthe current period entitlement is not used in full.
a. true
b. false
c. may be false
d. may be true
Q. A parent co. should account for the investment in subsidiaries in accordancewith AS -13
a. true
b. false
c. May be true
d. only b
Q. A-5 does not indicate the frequency of interim financial report.
a. true
b. either true or false
c. both a and b
d. only false
Q. A 25 focuses on change in accounting policies also.
a. true
b. only false
c. may be true
d. may be false
Q. As per As- 28 impairment of asset means decrease in the value of asset.
a. true
b. false
c. only true
d. May be true
Q. As per AS -30 prepaid expenses are not financial instruments.
a. true
b. false
c. neither true nor false
d. may be false.