CA Foundation Principles of Accounting: Questions 18 - 28 of 502

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Question number: 18

» Accounting Process » Books of Accounts - Fundamental Errors

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State the steps to rectify the errors if the errors are identified after the preparation of final accounts.

Question number: 19

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

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What is meant by the term revenue expenditure? Give a suitable example

Question number: 20

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

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Justify your answers after classifying the following into capital and revenue receipts

  1. Owner’s contribution towards capital

  2. Entrance fees received by a club

  3. Subsidy received from government

  4. Sale revenue received by Hyundai from the sale of cars

Question number: 21

» Theoretical Framework » Accounting Standards

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What are the advantages of setting accounting standards?

Question number: 22

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

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

Question number: 23

» Theoretical Framework » Accounting Standards

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How does the ASB formulate accounting standards?

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Question number: 24

» Theoretical Framework » Accounting Concepts, Principles and Conventions

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Can book keeping and accountancy be called as one and the same? State reasons for your answer.

Question number: 25

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

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What are capital and revenue losses? Explain?

Question number: 26

» Accounting Process » Books of Accounts - Fundamental Errors

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What is meant by errors?

Question number: 27

» Accounting Process » Books of Accounts - Fundamental Errors

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What is meant by the term suspense account?

Question number: 28

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

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What is the difference between a capital expenditure and revenue expenditure?

Explanation

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