B.Com 3rd Year Auditing Online Test

38. A secret reserve is a reserve that is not disclosed in the Balance Sheet so that the Financial position is, in fac better than appears from the balance sheet.” This is defined by –

37. “Secret reserves are also referred as hidden reserve or inner reserve”. This is defined by –

36. Window dressing implies –

35. Which company can make secret reserve –

35. According to Companies Act, creating secret reserve is –

33. Capital profits can be utilised –

32. Which of the following statement is incorrect?

31. Which of the following is the method of creating secret reserve –

30. A reserve which is not apparent on the face of the balance sheet is –

29. Which of the following can be utilised to distribute dividends among shareholders?

28. Which of the following is created for an unknown?

27. Which of the following is the object provision?

26. Which of the following is the object of creating reserve the company –

25. Which of the following fund is created for equalisation of dividend rate?

24. If cost price of a machine is Rs. 15,000; Scarp value is of Rs 3,000 and expected life is 4 years, then amount of depreciation will be –

23. Sinking fund is made for –

12. Reserve is made for –

21. Appropriate method of depreciation for Livestock is –

20. Appropriate method of depreciation for replacement of machinery is –

19. Appropriate method of depreciation on assets taken  on lease is –

18. Appropriate method of depreciation machinery is –

17. Appropriate method of depreciation for –

16. Depreciation reduced the –

15. Which section of Companies Act is related with?

14. Base of depreciation is –

13. Continuous use of assets is –

12. Obsolescence of assets is –

11. Cause of depreciation is –

10. Arrangement for depreciation on fixed asset is a –

9. Provision for depreciation is –

8. Depreciation is charged on –

7. Which of the following is objective of Depreciatio management?

6. Which is the main base of depreciation?

5. The main cause of depreciation is –

4. Which fund is created for the replacement of assets?

3. “Depreciation may be defined as a gradual deterioation in the value of the assets due to use.” This is defined by –

2. “Depreciation may be defined as the measure of the exhaustion of the effective life of an asset from any cause during given period”. This is defined by –

1. “Depreciation is gradual and permanent decrease in the value of assets from any use.” This definition is given by –