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YATH (Young Accounting Talent Hunt - 2022
DEPARTMENT OF COMMERCE WITH PROFESSIONAL ACCOUNTING
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Email
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YOUNG ACCOUNTING TALENT HUNT -2022
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NAME OF THE PARTICIPANT (CAPITAL LETTERS)
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SCHOOL NAME
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Group
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Commerce
Computer Science
others
CLASS
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CONTACT NUMBER
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PARENT CONTACT NUMBER
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CITY
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DISTRICT
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STATE
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REFERRED BY(Name with class)
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join in Group 1 :
https://chat.whatsapp.com/FpTs5DR5ePdHqNQFzluCPX
** Group 2 :
https://chat.whatsapp.com/FLtjhH1C5XnFO8zZLuEO
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Accounting equation is based on
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Going concern concept
Dual aspect Concept
Money Measurement concept
Accrual Concept
Assets – Liabilities =
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Cash
Debtors
Drawings
Capital
If the owners equity is Rs.240000 and other liabilities are 120000, cash in hand is Rs.60000, total assets of the firm will be
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300000
360000
240000
200000
Decrease in the amount of creditors means
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Increase in cash
Decrease in cash
Increase in assets
No change in assets
A liability arises because of
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Cash transactions
Credit transactions
Cash as well as credit transactions
None of the above
Purchase of Machinery against cheque is debited to
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Machinery a/c
Goods a/c
Equipment a/c
Cash a/c
Capital expenses and receipts are transferred to
Trading a/c
Profit & Loss a/c
Trial Balance
Balance Sheet
Clear selection
Opening stock Rs.100000, Closing stock Rs.60000, Purchases Rs.50000 and Gross Profit is 10% of sales. The gross profit is
Rs.10000
Rs.12000
Rs.20000
Rs.15000
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Balance sheet gives information regarding
Financial position during a particular period
Profit earning capacity for a particular period
Financial position as on a particular date
Operating efficiency of the firm
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Outstanding income is
A asset
A liability
An expense
An income
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Depreciation arises due to
Wear and tear
Fall in the market value of an asset
Fall in the value of money
Increase in the market value of an asset
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Accounting policies once applied should be consistently followed from one period to another period because of
Full disclosure concept
Conservatism concept
Matching Concept
Consistency concept
Clear selection
IFRS means
International Financial Reporting Standards
Internal Financial Reporting Standards
Internal Financial Record System
None of the above
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ICAI means
The Institute of Cost Accountants of India
The Institute of Chartered Accountants of India
The International Chartered Accountants Institute
None of the above
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Who is father of Accounting ?
Luca Pacioli
Taylor
Philip Kotler
None of the above
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CSEET Abbreviation is
Company Secretary Executive Entrance Test
Corporate Secretary Executive Entrance Test
Company Secretary Engineers Entrance Test
None of the above
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Process of Examining and evaluating companies financial statements are known as
Checking
Auditing
Testing
None of these
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How many Ind AS (Indian Accounting Standards) are there in India
39
38
42
41
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IASB Stands for
International Accounting Standard Board
Internal Accounting Standard Board
Indian Accounting standard Board
None of the above
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GAAP of India has been established by
MCA
ICAI
Ministry of Finance
ICSI
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