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Page 1 CPT Section A Chapter – 1 Unit 1 CA.S.S.Prathap Page 2 CPT Section A Chapter – 1 Unit 1 CA.S.S.Prathap Page 3 CPT Section A Chapter – 1 Unit 1 CA.S.S.Prathap Management Accounting Cost Accounting Financial Accounting All of the Above Answer : D Page 4 CPT Section A Chapter – 1 Unit 1 CA.S.S.Prathap Management Accounting Cost Accounting Financial Accounting All of the Above Answer : D Decision Makings Measurement Forecasting Ledger Posting Answer: D Page 5 CPT Section A Chapter – 1 Unit 1 CA.S.S.Prathap Management Accounting Cost Accounting Financial Accounting All of the Above Answer : D Decision Makings Measurement Forecasting Ledger Posting Answer: D Assets expressed in monetary terms. Liabilities expressed in monetary terms. Only assets expressed in non – monetary terms. Assets and liabilities expressed in non-monetary terms Answer: DRead More
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FAQs on MCQ - Meaning and Scope - Accounting Introduction - Principles and Practice of Accounting - CA Foundation
| 1. What is the meaning of accounting? |  |
Ans. Accounting refers to the systematic recording, reporting, and analysis of financial transactions of a business. It involves the measurement, processing, and communication of financial information to various stakeholders.
| 2. What is the scope of accounting? | |
Ans. The scope of accounting includes various activities such as financial accounting, management accounting, cost accounting, tax accounting, and auditing. It also involves the preparation of financial statements, budgeting, financial analysis, and decision-making support.
| 3. What is the CA Foundation exam? | |
Ans. The CA Foundation exam is an entry-level examination conducted by the Institute of Chartered Accountants of India (ICAI). It is the first step towards becoming a Chartered Accountant and consists of four papers covering subjects like Accounting, Law, Economics, and Mathematics.
| 4. What are the frequently asked questions (FAQs) related to accounting introduction in the CA Foundation exam? | |
Ans. Some frequently asked questions in the CA Foundation exam related to accounting introduction may include:
- What are the basic principles of accounting?
- What is the difference between cash basis and accrual basis accounting?
- How is depreciation calculated in accounting?
- What is the purpose of preparing financial statements?
- What are the different types of financial ratios used for analysis in accounting?
| 5. How can I prepare for the accounting introduction section of the CA Foundation exam? | |
Ans. To prepare for the accounting introduction section of the CA Foundation exam, you can follow these steps:
- Understand the basic concepts and principles of accounting.
- Practice solving accounting problems and numerical exercises.
- Review and revise important topics such as journal entries, trial balance, and financial statements.
- Refer to study materials and textbooks recommended by ICAI.
- Take mock tests and solve previous years' question papers to familiarize yourself with the exam pattern and time management.
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