Corporate Accounting MCQS With Answers

 

1. How many IFRS are in force as of now?

A. 65

B. 36

C. 37

D. 38

A. 65

2. Total no of interpretations applicable till date?

A. 24

B. 26

C. 28

D. 30

C. 28

3. What is the transition date of IFRS in India?

A. april 1, 2010

B. april 1, 2011

C. april 1, 2012

D. april 1, 2008

B. april 1, 2011

4. As per IAS 1, Presentation of financial statement, ______ no of items would constitutecomplete set of financial statements.

A. atleast 5

B. atleast 6

C. 5

D. 6

D. 6

5. GAAP stands for

A. generally accepted accounting principles

B. globally accepted accounting practice

C. generally allowable accounting principles

D. generally allowable accounting practice

A. generally accepted accounting principles