Case scenario MCQ booklet ICAI

answered 21 hrs ago

Sir from where we can get Case scenario MCQ booklet, in icai website under new scheme it is not available, and bos also old scheme pdf available

latest answer

You can refer to specific books which are issued by specific teacher Just like there is a web site called CAINDIA where they provide all amended answers

R Yashwanth Kumar

CA Final

★ 71K+

1

30

Journal Entry at the time of Payment

answered 1 day ago

Sir, The journal entry at the time of payment is Bank A/c Dr 1,21,000 To Customer A/c 1,21,000. But in the video, it is appearing as Bank A/c Dr 1,21,000 To Interest 1,21,000 (Video Clip at 8:00) (1,10,000 * 10%)

latest answer

Will check. Thanks foe highlighting

Antara MuraliKrishnan

CA Final

★ 3K+

1

35

General Doubt regarding Exam

answered on 24-Jul-24 15:29

Sir, in the exam, if they do not specify the Method to be used (Direct/Indirect), which one should we use?

latest answer

Indirect. Mostly with given info you will understand

Antara MuraliKrishnan

CA Final

★ 3K+

1

45

ill 26

answered 24 hrs ago

sir the no of years getting confused . can u explain once how it is 4years not 3years

latest answer

Commencing three years later from the end of first phase. So after 1 year - 3 more years.

HEMAVATHYSUBRAMANI SUBRAMANI

CA Final

★ 2K+

1

29

Presentation currency

answered 24 hrs ago

How is INR the presentation currency in India? Can I prepare my financial statements in other than INR?

latest answer

for statutory compliance purpose, it has to be in INR>

Suresh Avinash

CA Final

★ 3K+

3

27

FR Mark anlysis

answered on 23-Jul-24 16:54

Sir Analysis of question and weightage that you have showed in your fastrack class live where will that be available??

latest answer

Thank you sir

kabilan sam

CA Final

★ 2K+

5

38

Cash Flow from operations before changes in Operating Assets/ Operating Liabilites

answered on 23-Jul-24 09:19

Sir, I am not clear why we are using the phrase "Before changes in Operating Assets & Operating Liabilities" in this question instead of "Before changes in Working Capital" that we use generally.

latest answer

Its just a nomenclature. This is to exclude non operating assets like current investment. Technically when we calculate working capital, we include current investment. However, the items used in calculation as per AS 3 and Ind AS 7 are similar.

Antara MuraliKrishnan

CA Final

★ 3K+

2

35

Classification of certain items

answered on 22-Jul-24 09:09

Sir, under which head will "Other Income - Interest" & "Changes in Inventory" be classified? (These items are in the P&L in the example taken in this video

latest answer

Interest - Investment Changes in inventory- operating

Antara MuraliKrishnan

CA Final

★ 3K+

1

31

Inventory IndAS2

answered on 22-Jul-24 10:02

If market value(fair value)=4000,and transport cost is Rs.200,but for bulk sale ,price is 3500 so Net realizable value comes to 3300 after transport cost So what is the amount of Rs.3500 known as,Fair Value or Gross Realisable Value?

latest answer

Fair value is 4000 3500 - is gross value that you would realise

Mohammed Sarfaraz

CA Final

★ 720

1

38

Why is Phrase -1 &Phrase -2 capitalised even though a substantial period is less than 1yr

answered on 22-Jul-24 12:21

Why is Phrase -1 &Phrase -2 capitalised even though a substantial period is less than 1yr

latest answer

Assumed as qualifying. I have explained in the class that 12 months/1 year period is indicative.

Surya Prakash

CA Final

★ 14K+

1

26