Question : Fardeen Ltd. received interest on an item and the accountant classified it unde Investing Activity while preparing Cash Flow Statement. Name another item for which such a treatment is possible.
Option 1: Dividend paid
Option 2: Dividend received
Option 3: Issue of equity shares
Option 4: Interest on call - in arrear
Correct Answer: Dividend received
Solution : Answer = Dividend received
Interest received on investments is typically classified as an investing activity in the Cash Flow Statement. Similarly, dividends received, being an income from investments, can also be classified as an investing activity. Both involve returns earned from investments made by the company, hence they fall under the investing category. Hence, the correct option is 2.
Question : Select the correct direct form of the given sentence. The receptionist asked me if I wanted to meet the accountant.
Option 1: The receptionist said to me, "Did you want to meet the accountant?"
Option 2: The receptionist said to me, "Do I want to meet the accountant?"
Option 3: The receptionist said to me, "Have you met the accountant?"
Option 4: The receptionist said to me, "Do you want to meet the accountant?"
Question : Select the option that expresses the given sentence in direct speech. The officer asked the accountant why the accounts had not been reconciled.
Option 1: The officer said to the accountant, "Why have the accounts not being reconciled?"
Option 2: The officer said to the accountant, "Why the accounts had not been reconciled?"
Option 3: The officer said to the accountant, "Why the accounts have not been reconciled?"
Option 4: The officer said to the accountant, "Why have the accounts not been reconciled?"
Question : Who holds the highest law office in India?
Option 1: Attorney General
Option 2: Accountant General
Option 3: Lieutenant General
Option 4: Solicitor General
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