CA Foundation Principles of Accounting: Questions 91 - 100 of 401

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Question number: 91

» Theoretical Framework » Meaning and Scope of Accounting

Essay Question▾

Describe in Detail

Describe about the various branches of accounting.

Explanation

  • One of the primary objectives of accounting is to provide information according to the needs of internal and external users. The following are the most important of the branches of accounting system:

Branches of accounting system

Branches of Accounting System

The important branches of accounting system

  • Financial Accounting:

    Financial accounting involves recording of financial… (175 more words) …

Question number: 92

» Accounting Process » Books of Accounts - Capital and Revenue Expenditures

Short Answer Question▾

Write in Short

What is the meaning of the term Capital Expenditure? Give example.

Question number: 93

» Accounting Process » Books of Accounts - Fundamental Errors

Short Answer Question▾

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How do we rectify the errors?

Question number: 94

» Theoretical Framework » Accounting Concepts, Principles and Conventions

Short Answer Question▾

Write in Short

Which accounting standard deals with the treatment of intangible assets?

Question number: 95

» Theoretical Framework » Accounting Concepts, Principles and Conventions

Short Answer Question▾

Write in Short

Identify the assumption in the following case:

  • When sales department sold goods worth Rs. 5, 00, 000.

  • A piece of land is purchased by C ltd. for Rs. 800000 and its market value is Rs. 1000000 at the time of preparing final accounts. The land value is recorded only as Rs. 800000.

  • The accounting period of the ABC ltd is 1 - 4-2016 to 31 - 3-2017.

  • A provision for doubtful debts is created at 5 % on Debtors and 2 % of discount on debtors.

Question number: 96

» Theoretical Framework » Valuation Principles, Accounting Estimates

Short Answer Question▾

Write in Short

Can accounting be stated as a measurement discipline? Justify your answer?

Question number: 97

» Theoretical Framework » Valuation Principles, Accounting Estimates

Short Answer Question▾

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Discuss the 4 generally accepted valuation principles briefly?

Question number: 98

» Theoretical Framework » Accounting Concepts, Principles and Conventions

Essay Question▾

Describe in Detail

Describe about the classification of Accounting Concepts and Conventions.

Explanation

  • The Generally Accepted Accounting Principles are termed as Concepts or Conventions by some experts.

  • The general assumptions or an idea which are followed in practice of Accounting is known as Accounting Concepts. The Accounting Concepts are further subdivided into:

Sub division of accounting concepts

Sub Division of Accounting Concepts

Sub division of accounting concepts on… (90 more words) …

Question number: 99

» Theoretical Framework » Valuation Principles, Accounting Estimates

Short Answer Question▾

Write in Short

Why do we have to know about accounting estimates?

Question number: 100

» Theoretical Framework » Accounting Concepts, Principles and Conventions

Essay Question▾

Describe in Detail

Explain meaning and nature of Accounting Principles.

Explanation

Accounting is known as language of business. Certain accounting principles are followed for accounting a business transaction. The generally accepted principles were framed from common experiences of:

  • Accountant

  • Historical precedents

  • Regulations of government agencies

  • Statements from professionals’ bodies.

    These professional bodies include:

  • The institute of Chartered Accountants of England and… (87 more words) …

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