Question ppr click here
5-a
True false ke answer
1) True, cz branch account under debtor system is maintained to calculate profit/loss earned by branch
2) False, These are general assumption which are deemed to have been followed while preparing Financial statement. In case any entity doesn't follow any assumption such fact needs to be disclosed
3) False, Change in accounting estimate doesn't need any retrospective effect however change in accounting policy needs retrospective effect
4) False, As per AS 19 if any asset procured by lessee is of specialised nature then such lease will be termed as financial lease
5) False, Change in method of depreciation is not a change in accounting policy rather it will be termed as change in accounting estimate
2-1
1(b)
