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Preparation of Financial Statements of Not-for-Profit Organisations Question 1.Write short note on the following:Features of Income and Expenditure Account (June 2019, 5 marks)Answer:Features of Income and Expenditure Account: It follows Nominal Account. All expenses of revenue nature for the particular period are debited to this Account on accrual basis. Similarly, all revenue incomes related to […]
Preparation of Financial Statements of Commercial Organisations Question 1.Write short note on the following:Provision for Discount on Debtors (June 2019, 5 marks)Answer:Provision for Discount on Debtors:We know that cash discount is allowed by the suppliers to customers for prompt settlement of cash. Naturally a provision is created for this purpose. Thus, the provision which […]
Bills of Exchange CMA Inter Financial Accounting Question 1.Write short flotes on the following:(a) Accommodation Bill (June 2016, 5 marks)(c) Rebate on Bills Discounted (June 2016, 5 marks)Answer:(a) Accommodation Bill: An Accommodation Bill is a bill of exchange signed by-a party as drawer, drawee, endorser to accommodate another party whose credit is not strong enough […]
Accounting Fundamentals – CMA Inter Financial Accounting Question 1.Write short note:(c) Accounting convention of consistency; (Dec 2012, 5 marks)Answer:In order to enable the management to draw important conclusions regarding the working of a company over a number of years it is essential that accounting practices and methods remain unchanged from one accounting period to another. […]
MCQs on The Indian Contract Act, 1872 Part 1 Q.1:- The person making the proposal is called the and the person accepting the proposal is called : a).Proposor/ Proposee b).Promisee/ Promisor c).Promisor/Promisee d).Proposee/ Proposor Correct Option: C Q.2:- Every promise and every set of promises, forming the consideration for each other, is called as: a).A […]
CA Foundation Exam Date 2025 The CA Foundation Exams Date 2025 is announced by ICAI through an official notification. The schedule is provided so that students can prepare in advance and manage their time effectively. CA Foundation May 2025 Exam Date The CA Foundation May 2025 Exams Date is declared by ICAI on its official portal. Students are informed […]
CA Inter May 2023 Exam Date The CA Inter May 2023 exams date was officially announced by ICAI. The schedule was provided on the official website so that students could plan their preparation accordingly. CA Inter Exam Date May 2023 The exams date for CA Inter May 2023 was released by ICAI through an official notification. […]
ca foundation jan 2025 result date icai The CA Foundation January 2025 result date will be announced by ICAI on its official website. Students are advised to stay updated for timely result access. icai ca foundation result The ICAI CA Foundation result is declared online through the official portal. Candidates’ scores can be checked using their registration and […]
CA Foundation June 2023 Result Date The CA Foundation June 2023 result date was officially announced by ICAI. Students were informed about the release schedule through the institute’s official website. CA Foundation Result June 2023 Date The CA Foundation result June 2023 date was notified on the ICAI portal. Candidates were advised to check their results online using their roll number […]
ICAI Exam Result The ICAI exam result is announced on the official website by the Institute of Chartered Accountants of India. Candidates are provided with their marks and pass status, which can be accessed using their registration number and PIN. ICAI Exam Results 2021 The ICAI exam results 2021 were declared online by ICAI. Students were informed […]