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What is the Personal Income Tax rate? What is Corporate Tax?

Is it a direct or
What are Direct and Indirect Taxes? Give indirect tax?
examples. What is the elasticity of demand and supply
Why does a Balance Sheet balance? in corporate taxation?
Is loss an asset or a liability? What are the differences between companies
What are LIFO & FIFO? What are they falling under small and medium sector?
used for? What is the difference between Excise Duty
What are Quick Assets? and Customs Duty?
What is Amortisation? Can depreciation be on fixed assets only?
What is Depreciation? What are the As depreciation is to fixed assets, what is
different methods of Depreciation? Which the same analogous to debtors?
method is better and why? How much depreciation would you charge
Do you know what N.P.V. discounting is? on a building - 5% or 10%? Why?
What are Derivatives? Why is it that one has a 30% depreciation
What are Options and Futures? on computers and less on buildings?
What is Operating Ratio? What is Single Entry? Why is it considered
Does dividend reduce profits? inferior to Double Entry?
What is Trial Balance? What is Bank Reconciliation Statement?
Why is Trial Balance used? What are its advantages?
If ledger postings are computerised, do you What is Tariff?
require a Trial Balance? What is the difference between Tariff &
What is the highest rate of Depreciation Customs Duty?
under Income Tax and for what items? What is Ad Valorem Duty?
Does depreciation reduce profit? What is a Surcharge?
What is Current Ratio? Explain the calculation of IRR or NPV.
What is Working Capital? What are the various costs in Accounting?
What is the ideal Current Ratio? Why? What is Direct Cost?
What is Negative Working Capital and Is it a Fixed Cost or a Variable Cost?
explain its implications? What is an Indirect Cost?
What is Discretionary Expense? What is Marginal Cost?
What is Capital and Revenue Expenditure? How is the Exchange Rate between two
When can Revenue Expenditure be currencies determined?
capitalised? What do you understand of the term
Is there any ratio of the expense incurred Option?
and cost of asset to capitalise the expense? Define Fischer s Equation?
What are the advantages of Capitalisation? What is the difference between Financial,
If you are an investor, what will you look Cost and Management Accounting?
for before you invest in a company? What does a Management Accountant do?
What would happen if a company pays a What ratios did you learn?
lower dividend? What is Current Ratio?
Can you draw up a Balance Sheet? What is the ideal Current Ratio?
What is Fiscal Deficit? What is the history of Double Entry?
What is Budget Deficit? If a company spends on training of
What is Mean / Median? personnel, how does it account for?
Where does Goodwill appear in a Balance What is an Asset?
Sheet? Why? What is Social Accounting?
Explain Going Concern concept. Is HR an asset? If shown on balance sheet
Explain various costs in cost sheet. what can you think of as corresponding
What is Contra-entry? liability?
What is Country of Origin? What is Trading A/c? Manufacturing A/c?
Can the captain of the vessel dump the The profit from Trading A/c is transferred
goods in the middle of the sea? to?
What is Sight Draft? What is Goodwill? What are the methods by
What is Capital Account Convertibility? which it is calculated?
What is Marginal Rate of Taxation?