( Best 50+ ) Accounting Standards MCQ

by Mr. DJ

Accounting Standards MCQ

Table of Contents

Accounting Standards MCQ

Accounting Standards MCQ

41. Post Acquisition dividend received by Holding Company is debited to :

A. Bank A/c

B. profit & loss A/c

C. Dividend A/c

D. Investment A/c

42. Which Exchange rate will be considered for conversion of share capital of subsidiary

A. Opening Rate

B. Closing rate

C. Average Rate

D. Rate of which date share acquired (actual)

43. A subsidiary company shall be excluded from consolidation when:

A. Control is intended to be temporary

B. It operates under severe long-term restrictions which significantly impair its ability to transfer funds to the parent

C. Always included for consolidation

D. Both a and b.

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