The given Commerce MCQs include all concepts about this field.
Recording of capital contributed by the owner as liability ensures the adherence of principle of–
(A) Consistency
(B) Going concern
(C) Separate entity
(D) Materiality
Answer: Separate entity
Indian Accounting Standard – 28 is related to–
(A) Accounting for taxes on income
(B) Financial Reporting of Interests in Joint Venture
(C) Impairment of Assets
(D) Provisions, Contingent Liabilities and Contingent Assets
Answer: Impairment of Assets
Accounting for Intangible Assets are related to–
(A) AS – 10
(B) AS – 12
(C) AS – 24
(D) AS – 26
Answer: AS – 26
The Doing Business Report” is prepared by which of the following organizations every year?
(A) World Bank
(B) Asian Development Bank (ADB)
(C) International Monetary Fund (IMF)
(D) World Trade Organization (WTO)
Answer: World Bank