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CS Executive Practice Test: Financial Statements Interpretation – Corporate and Management Accounting
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CS Executive Practice Test: Financial Statements Interpretation – Corporate and Management Accounting
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25 Questions

1. Provisions of Corporate Social Responsibility (CSR) are applicable to the company having a net worth of
2. Obsolescence of a depreciable asset may be caused by
(I) Technological changes.
(II) Improvement in the production method.
(III) Change in market demand for the product or service output.
(IV) Legal or other restrictions.
The correct option is
3. The arrangement of assets and liabilities in accordance with a particular order is known as of balance sheet
4. What do you understand when one refers to as “net book value' of a non-current asset
5. In_____, approach assets which are to be used for long-term in the business and are not meant to be sold are presented first and assets that are most liquid such as cash in hand, are presented at the bottom
6. Revenues affect net income
7. Amortization applies to
8. Every company fulfilling specified criteria shall constitute Corporate Social Responsibility (CSR) Committee of the Board consisting of:
9. In the case of downward revaluation of an asset which is for the first time, the account to be debited is
10. If Net Profit is the starting point for the purpose of calculation of managerial remuneration then which of the following you will deduct:
11. As per Section 198 of the Companies Act, 2013 while calculating net profit for managerial remuneration, if gross profit is the starting point then which of the following is allowed to deduct
12. Provisions of Corporate Social Responsibility (CSR) are applicable to the company having a turnover of
13. As per Section 198 of the Companies Act, 2013 while calculating net profit for managerial remuneration, if gross profit is the starting point then which of the following is allowed to deduct
14. Which of the following statement is true
15. Arrange the following assets as per permanence order.
I. Cash & Bank
II. Building
III. Investment
IV. Stock
Select the correct answer from the options given below
16. In case of companies depreciation on assets are provided on the basis of
17. Which of the following is/are the important characteristic of depreciation?
P. Depreciation is a permanent, continuous, and gradual increase in the value of a fixed asset.
Q. Depreciation is the appropriation of profit.
R. Depreciation is always computed in a systematic and rational manner.
Select the correct answer from the options given below
18. If Net Profit is the starting point for the purpose of calculation of managerial remuneration then which of the following you will add:
19. If the Effective Capital of the company is negative and it passes special resolution then it may, without the approval of Central Government, pay remuneration to the managerial person not exceeding:
20. ______are those fixed assets that have fixed content, like coal in a coal mine; the value of the asset goes down as the contents are taken out
21. The depreciation fund method is also known as
22. Arrange the following assets as per liquidity order.
I. Cash & Bank
II. Building
III. Investment
IV. Stock
Select the correct answer from the options given below-
23. The most compelling reason for accounting for depreciation is:
24. Computation of net profit for Section 135 is as per Section 198 of the Companies Act, 2013 which is primarily:
25. Depreciation is a process of

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