CA Foundation June 2024 Accounts Question Paper Solution for Q1(a).
Q 1(a) was a True or False question with reasons for 12 Marks. Question 1 was compulsory and had 3 parts - Q1(a), (b) and (c). The Q1(a) is as follows -
State with reasons, whether the following statements are True or False:
(i) If Closing Stock appears in the Trial Balance then it does not enter in Trading Account. It is shown only in the Balance Sheet.
(ii) If the amount is posted in the wrong account or it is written on the wrong side of the account ,it is called error of principle.
(iii) Accounting Standards can override the statute.
(iv) Promissory Note is different from Bill of Exchange because the amount is paid by the maker in case of former and by the acceptor in the later.
(v) All errors are rectified by means of journal entries.
(vi) Revaluation Account is also known as Profit and Loss Adjustment account.
Team Koncept has complied the complete solution of CA Foundation June 2024 Accounts question paper. To see all other questions solutions watch all the videos of this playlist -
• CA Foundation June 24 ...
For queries you can contact our faculties Ruchika Maam (AIR 7) and Yash Sir (AIR 24) on 9228446565.
Koncept provides completely FREE CA Foundation online lectures - Download app - www.konceptca.com/apps
Useful Links :
Playstore: www.konceptca....
Appstore: www.konceptca....
Website: www.konceptca.com
Instagram: koncept_ca_cs_cma .
Email: info@konceptca.com
Call: 9228446565
WhatsApp: wa.me/9228446565
Негізгі бет CA Foundation Accounts Paper Solution June 24 | Q1(a)
Пікірлер: 18