The process of converting foreign – subsidiary financial statements into the home currency is known as------------

Related MCQs

• The process of converting foreign subsidiary financial statements into the home currency is known as -------
• The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is
• Which of the following statements is/are true? (i) An error in casting the subsidiary books is an error of commission (ii) An error in wrong casting of the sales day book will not affect the personal accounts of debtors (iii) Mistake in transferring the balance of an account to the Trial Balance will not affect the agreement of the Trial Balance (iv) The mistake of treating a liability as an income or vice versa will not affect the agreement of a Trial Balance
• Which of the following relate to financial position in a set of financial statements?
• Mr. Rohit, owner of Rohit Furniture Ltd., owns a personal residence that cost ` 6,00,000, but has a market value of ` 9,00,000. During preparation of the financial statement for the business, the entire value of property was ignored and was not shown in the financial statements. The principle that was followed was
• Non-Monetary Items which are carried in terms of historical cost determinated in a foreign currency should be reporte using exchange rate at the date of _____
• Match List I (Financial Statements and Accounts) with List II (special matters associated with statements and accounts) and select the correct answer using the codes given below the lists: List I List II i) Receipts and Payments Account I. Revenue ii) Income and Expenditure Account II. Cash iii) Club subscription received in III. Liability Advance Account Codes:(i) (ii) (iii)
• Which of the following accounts appear(s) in the Balance Sheet of a business? i. Stock at the end of the financial year ii. Stock at the beginning of the financial year iii. Drawings iv. Prepaid Rent v. Interest received but not yet earned
• Omission of paise and showing the round figures in financial statements is based on
• Which of the following is not classified as inventory in the financial statements?