Multiple Choice Questions (MCQ's) of Accounting

danishayub_76 · 03-06-2009, 06:16 PM

Thanks for your valuable guidance.

kamranACA · 03-06-2009, 06:19 PM

Dears,

If some qustion remains un-answered, it does not mean that others cannot comment on it.

Rather, the nature of such questions suggests that answer should not be given.

Regards,

KAMRAN.

wasim akram · 03-06-2009, 09:30 PM

The forum is not a class room where teacher is holding question answer session. What I heard or understand mean to get guidance / recommendation from seniors / Intelectual to minimise ones trouble. As far as my query was concerned that was of utmost practical nature. I did not face such kind of problem during last 20 years of my practical experience. PL... Question remained un-answered does not mean that other cannot comment on it. but it mean for a common man that one does not bother to comment on it........Roothay ho to kaisay manaoon ..... Bolo na.. Bolo na.

awaisaftab · 03-06-2009, 09:38 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by danishayub_76
 Dear All.

I want to learn about depreciation methods and rates used in financial reporting. IAS 16 explains the methods to be adopted for depreciation including Straight line method, declining balance method and units of production method. My question is that what provisions and rates are metnioned in Companies ordinance 1984 in this regard. or in other words What companies Ordinance 1984 says regarding depreciation methods and rates.
Awaiting for your response.

Danish Ayub
<hr height="1" noshade id="quote"></blockquote id="quote">

Danish Bhayee Company Ordinance is sielent about the depreciation rate. The Schedule -III of Income Tax Ordinance lays down the rate but the companies usually do not use these rates for the purpose of financial reporting. The companies charge depreciation on taking in consideration the usefull life of assets and in accordance with accounting policies of the company. According to ITO,2001 all types businesses are liable to use diminishing balance method.
The depreciation rates of income tax ordinance are used for filling tax return. A company can use any rate for charging depreciation other than rate specified in 3rd schedule of ITO. Two terminologies are used for depreciation with respect to rate i.e Tax Depreciation and Accounting Depreciation.

Regards,

Awais Aftab

shafiqb9 · 03-07-2009, 02:29 PM

would you please that what are the things that does not permit you to comment.
<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by kamranACA
 Dears,

If some qustion remains un-answered, it does not mean that others cannot comment on it.<hr height="1" noshade id="quote"></blockquote id="quote">
May be its true that OTHERS cannot not comment but [)]YOU are not in the category of those OTHERS[)].

<blockquote id="quote">quote<hr height="1" noshade id="quote">
Rather, the nature of such questions suggests that answer should not be given.

<hr height="1" noshade id="quote"></blockquote id="quote">
may be i m unable to see the things that restrict you to comment may be due my [(]narrow view and inexperince[(]

awaisaftab · 03-07-2009, 03:36 PM

Dear Shariq

Please do not be aggressive.

Regards,

Awais

kamranACA · 03-07-2009, 06:48 PM

Dears,

I never hesitate to reply even those who have material differences with my mindset. In fact we are not here to have personal grudges.

The one can provide some insight on professional issues by sharing knowledge but cannot straightforwardly sit on others' seat to manage his job. I agree the question is important but this is all about of a job of the finance manager. It is not merely a query.

I can certainly deal with it. We have handled most of the merger, acqusition, privatization and restructuring assignments in Pakistan so far. This was not even known to me until in a bidding process with other consulting firms I revealed this fact. However, I feel it may not be worth writing a two-three pager post on the issue which should be specifically consulted for. This can even misguide the user of the information.

I don't mind any one if like to help the poster.

Regards,

KAMRAN.

shafiqb9 · 03-09-2009, 04:26 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by awaisaftab
 Dear Shariq <hr height="1" noshade id="quote"></blockquote id="quote">

who is shariq here.....[D][D][D]
<blockquote id="quote">quote<hr height="1" noshade id="quote">
Please do not be aggressive.

Regards,

Awais
<hr height="1" noshade id="quote"></blockquote id="quote">
I M NOT AGGRESSIVE I WAS JUST PRAISING KAMRANACA SB. may b this is m
my english that give the impression that i m aggresive.
sorry for that.[|)]

CFANerd · 03-09-2009, 05:06 PM

These are kindergarten MCQs. Doesn't involve any conceptually challenging issue. I am not an accountant but the questions are very basic ones.

kamranACA · 03-09-2009, 05:24 PM

You are right CFAnerd!

awaisaftab · 03-09-2009, 08:19 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by CFANerd
 These are kindergarten MCQs. Doesn't involve any conceptually challenging issue. I am not an accountant but the questions are very basic ones.
<hr height="1" noshade id="quote"></blockquote id="quote">

Dear CFANerd and Kamran

if these are kindergarten MCQs why are you particapating in this topic. In fact some people want to involve in long debates on different topics Knowledge gaining or sharing is not matter for them rather they want to show them as big gun.

but majority of members dont have idle time to involve in long debates. Obviously I take initiative of discussing MCQ's of accounting for quick knowledge sharing.Many honourable member of the forum has highly appreciated my that effort.

Regards,

Awais

kamranACA · 03-09-2009, 08:26 PM

Dear,

Participation is not a question here since I never posted any question. I just commented upon a bookish answer which practically cannot be proved although books suggest same answer.

We appreciate your effort if you need it. There may be so many chaps who need these kindergarten MCQs as well. Certainly we have people of all calibers at this forum and we don't object on this thread.

Who is a big gun? Did you struck with some bullet? I guess no. Am I wrong? If others are big guns, do you grade yourself as a small pistol? I think it's not a way out buddy. Keep on doing your work. No big gun is stopping you.

Regards,

KAMRAN.

awaisaftab · 03-09-2009, 09:18 PM

I cannot understand why you start querelling with others . If one pass wrong comments about another then being a senior member you have to discourage him rather to appreciate and show your agreement with him. I have no need for appreciation of any one.

Before commenting on any one see all of his literary work.
We all visit the forum forum for sharing and gaining knowledge.
Regards,

Awais

wasim akram · 03-09-2009, 10:26 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by kamranACA
 Dears,

I never hesitate to reply even those who have material differences with my mindset. In fact we are not here to have personal grudges.

The one can provide some insight on professional issues by sharing knowledge but cannot straightforwardly sit on others' seat to manage his job. I agree the question is important but this is all about of a job of the finance manager. It is not merely a query.

I can certainly deal with it. We have handled most of the merger, acqusition, privatization and restructuring assignments in Pakistan so far. This was not even known to me until in a bidding process with other consulting firms I revealed this fact. However, I feel it may not be worth writing a two-three pager post on the issue which should be specifically consulted for. This can even misguide the user of the information.

I don't mind any one if like to help the poster.

Regards,

KAMRAN.
<hr height="1" noshade id="quote"></blockquote id="quote">.

Right.... Instead of political statement please go ahead professionally "material differences with my mindsent" and "personal grudges" and so on..... please review your comments and think like a professional reader. You may understand better......., For me does't matter but for u it matter.
This forum is for "KIDS" as u mentioned & u r THE BEST........
What i understand from your quote that u might be running a professional firm "ACA".
We will feel pleasure if u send us ur "COMPANY PROFILE" to consult u in future for professional services u r offering. U complied late other wise I must consult u before hiring the services of a company whose profile include Retired Justices and as they mentioned they feel pleasure to be on our panel.
Hope u will take it positively becoz commenting on a subject is apparently easy than working on objects and working on objects means results, if results are good than subject is called EASY.

awaisaftab · 03-09-2009, 10:44 PM

I have also a strong desire to see the profile of firm of Mr. kamran

Regards,

Awais