Commerce and Accountancy-2014: Answer Writing Challenge – 13
27 October 2014
I) Write short notes in about 200 words:
- Conditions for availing of CENVAT credit under various categories of goods and services.
- Intangible assets and their treatment in the books of accounts of a firm.
- Assumptions and limitations of Cost-Volume-Profit analysis.
- Provisions of Indian Accounting Standards regarding treatment of depreciation when an asset is revalued.
- Audit procedures to detect cash defalcations.
II) Define and distinguish between marginal and absorption costing with examples. What are their uses and limitations? (300 Words)