According to AS-15 (Revised) superannuation scheme which has relevance only to the final salary and number of years of service is

Related MCQs

• Due to retrospective effect on revision of salary of employees, the arrears of salary relating to past years, payable in current year is
• Goodwill is to be calculated at one and half year’ purchase of average profit of last 5 years. The firm earned profits during 3 years as ₹ 20,000 ₹ 18,000 and ₹ 9,000 and suffered losses of ₹ 2,000 and ₹5,000 in last 2 years. The amount of goodwill will be
• (i) Salaries as per Income and Expenditure Account Rs.1,500 (ii) Salaries paid in advance in previous year Rs.700 (iii) Salary outstanding at the end of current year Rs.300 (iv) Salary outstanding at the end of previous year Rs.800 From the above information given, the amount of salaries to be shown in Receipts and Payment Account can be valued at
• According to AS-3 (Revised) interest and dividends received in the case of a manufacturing enterprise should be classified as cash flow from
• AS-6 (revised) is applicable to which one of the following assets?
• AS 6 revised is an accounting standard for:
• From the profits of previous three years, Rs 150000, Rs 300000, and Rs250000/- and the loss in a year ( Rs. 100000/-) the value of goodwill at three years of purchase is ---------
• An office equipment is purchased on 1.1.12 for `1,10,000 having working life of 4 years at the end of which it is expected to have a scrap value of `10,000. Find the difference in depreciation as per Sum of years digit methods and reducing balance method (25% WDV) for the year ending on 31st December 12
• From the profits of previous three years, Rs 150000, Rs 200000, and Rs250000/- the value of goodwill at five years of purchase is ----------- Sol:
• The profits of the last three years is 42000, 39000,45000. Value of goodwill of 2 years purchase of average profit is