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Higher Study | Accountancy | Balance sheet statement

Given below are two statements: Statement I : Deferred Tax Liabilities (Net) is the amount of tax on the temporary difference between the accounting income and taxable income. It arises when the accounting income is more than the taxable income. Statement II : Deferred Tax Liabilities (Net) and Deferred Tax Assets (Net) are only book entries i.e. they are neither actual liability nor actual asset. In the light of the above statements, choose the correct answer from the options given below:
As per the format of Balance sheet prescribed as per Schedule III of Companies act 2013, Capital Work in progress is shown under the heading of
Which of the following is an equation?
Which of the following statements are correct in respect of the straight-line method of charging depreciation? (i) It is easy to use. (ii) It is recognized by Accounting Standard 6 issued by ICAI. (iii) It realistically matches the cost and the revenue. (iv) It takes into consideration the interest on the amount invested in fixed asset. (v) This method is recognized by The Income Tax Act 1961.
Which of the following transaction result in increase of assets and increase in owner’s equity ?
As per the format of Balance sheet prescribed as per Schedule III of Companies Act 2013, Mining rights is shown under the heading of:
What are the objectives of the verification of assets? (i) to ensure the existence of an asset (ii) to ensure the ownership (iii) to ensure the possession (iv) to ensure the lien
What are the objectives of verification of liabilities? (i) to ensure the existence of a Liability (ii) to ensure the ownership (iii) to ensure proper valuation (iv) to ensure the obligation
Which of the following expenses should NOT become part of cost of the asset for the purpose of calculating depreciation?
Which of the following is regarded as a Position Statement?
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