Top 50+ Solved Advanced Corporate Accounting MCQ Questions Answer
Q. The stakeholder view of social responsibility states that organisations mustrespond to the needs of
a. employees and customers
b. shareholders and owners
c. all interested parties
d. all those who might sue the organisation
Q. The objective of _________ is to establish the principles that an entity shallapply to report useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer.
a. Ind AS 115
b. Ind AS 100
c. Ind AS 110
d. Ind AS 114
Q. _________is about the measurement of the items in the consolidatedfinancial statements, such as goodwill, non-controlling interest, etc.
a. IFRS 4
b. IFRS 10
c. IFRS 9
d. IFRS 3
Q. Goodwill on amalgamation can rise only if ________Method is followed.
a. Valuation
b. Percentage
c. Purchase
d. Merger
Q. _____________ is the process of significantly changing a company'sbusiness model, management team or financial structure to address challenges and increase shareholder value.
a. Corporate restructuring
b. Corporate reporting
c. Amalgamation
d. Reconstruction
Q. A merger of two or more companies that compete in the same industry.
a. Horizontal
b. Conglomerate
c. Vertical
d. None of the above
Q. A form of corporate restructuring in which the entity's business operationsare segregated into one or more components is known as __________________.
a. Horizontal
b. Disinvestment
c. Demerger
d. Takeover
Q. When one company takes over the management of the target company withthe permission of the board, it is known as ________________ takeover.
a. Friendly
b. Hostile
c. Acquiring
d. Disinvestment
Q. Any agreement between two or more parties to collaborate with each other,in order to achieve certain objectives while continuing to remain independent organizations is called _______________.
a. Strategic alliance
b. Franchising
c. Joint Venture
d. Disinvestment
Q. ________________accounting is the process by which companies andorganizations record the financial impact of agreements to rent or finance the rights to use specific assets.
a. Corporate
b. Responsibility
c. Green
d. Lease
Q. A ______________ is defined as an entity that provides the right to use anasset for a period of time in exchange for consideration.
a. Contractor
b. lessor
c. Lessee
d. None of the above
Q. A ____________ is a lease that transfers substantially all the risks andrewards incidental to ownership of an asset. Title may or may not eventually be transferred.
a. Finance lease
b. Operating lease
c. Lessor
d. Contract
Q. ____________ is the estimated remaining period, from the commencement ofthe lease term, without limitation by the lease term, over which the economic benefits embodied in the asset are expected to be consumed by the entity.
a. Economic Life
b. Useful Life
c. Fair value
d. None of the above