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# Test: Accounting As A Measurement Discipline- 1

## 15 Questions MCQ Test Fundamentals of Accounting for CA CPT | Test: Accounting As A Measurement Discipline- 1

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This mock test of Test: Accounting As A Measurement Discipline- 1 for CA Foundation helps you for every CA Foundation entrance exam. This contains 15 Multiple Choice Questions for CA Foundation Test: Accounting As A Measurement Discipline- 1 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Accounting As A Measurement Discipline- 1 quiz give you a good mix of easy questions and tough questions. CA Foundation students definitely take this Test: Accounting As A Measurement Discipline- 1 exercise for a better result in the exam. You can find other Test: Accounting As A Measurement Discipline- 1 extra questions, long questions & short questions for CA Foundation on EduRev as well by searching above.
QUESTION: 1

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QUESTION: 2

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QUESTION: 3

### Mohan purchased a machinery amounting Rs. 10,00,000 on 1st April, 2001. On 31st March, 2011, similar machinery could be purchased for Rs. 20,00,000 but the realizable value of the machinery (purchased on 1.4.2001) was estimated at Rs. 15,00,000. The present discounted value of the future net cash inflows that the machinery was expected to generate in the normal course of business, was calculated as Rs. 12,00,000. Q. The historical cost of machinery is:

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QUESTION: 4

Change in Accounting estimate means:

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QUESTION: 5

ABC Ltd. purchased a building by paying Rs 50,00,000 as on 1st April, 2000. On 1st April, 2007 it found that it would cost Rs. 1,50,00,000 to purchase the similar building. This value of Rs. 1,50,00,000 is known as :

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QUESTION: 6

Change in accounting estimate means :

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QUESTION: 7

Gross Book value of a Fixed Asset is its:

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QUESTION: 8

Change in accounting estimate means:

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QUESTION: 9

Mohan purchased a machinery amounting Rs. 10,00,000 on 1st April, 2001. On 31st March, 2011, similar machinery could be purchased for Rs. 20,00,000 but the realizable value of the machinery (purchased on 1.4.2001) was estimated at Rs. 15,00,000. The present discounted value of the future net cash inflows that the machinery was expected to generate in the normal course of business, was calculated as Rs. 12,00,000.

Q. The realizable value of machinery is:

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QUESTION: 10

Mohan purchased a machinery amounting Rs. 10,00,000 on 1st April, 2001. On 31st March, 2011, similar machinery could be purchased for Rs. 20,00,000 but the realizable value of the machinery (purchased on 1.4.2001) was estimated at Rs. 15,00,000. The present discounted value of the future net cash inflows that the machinery was expected to generate in the normal course of business, was calculated as Rs. 12,00,000.

Q. The present value of machinery is

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QUESTION: 11

All of the following are valuation principles except:

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QUESTION: 12

In Accounting Money is the :

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QUESTION: 13

Mohan purchased a machinery amounting Rs. 10,00,000 on 1st April, 2001. On 31st March, 2011, similar machinery could be purchased for Rs. 20,00,000 but the realizable value of the machinery (purchased on 1.4.2001) was estimated at Rs. 15,00,000. The present discounted value of the future net cash inflows that the machinery was expected to generate in the normal course of business, was calculated as Rs. 12,00,000.

Q. The current cost of the machinery is:

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QUESTION: 14

There are ________generally accepted measurement bases or valuation principles :

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QUESTION: 15

Measurement discipline deals with:

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