IBPS RRB CA Officer Scale II Practice Questions - IBPS RRB Chartered Accountant Officer Scale II (IBPS, India) Exam - IBPS RRB CA Officer Scale II Practice Questions - IBPS RRB Chartered Accountant Officer Scale II (IBPS, India) Exam

Question 1

Under AS 9 (Revenue Recognition), when delivery is delayed at the buyer's request and the buyer takes title and accepts billing, revenue should be recognized immediately provided:

The goods are still in the physical possession of the seller without any conditions It is probable that delivery will be made, the item is on hand and ready for delivery, and the buyer acknowledges the deferred delivery instructions The seller has insured the goods for transit and is ready to ship at any time The buyer pays 100% of the invoice amount in advance before billing

Correct Answer:

It is probable that delivery will be made, the item is on hand and ready for delivery, and the buyer acknowledges the deferred delivery instructions

Question 2

According to AS 19 (Leases), which of the following circumstances would normally lead to a lease being classified as a finance lease?

The lease term is for a minor part of the economic life of the asset The lessee has the option to purchase the asset at a price expected to be sufficiently higher than the fair value At the inception of the lease, the present value of the minimum lease payments amounts to at least substantially all of the fair value of the leased asset The leased assets are of a general nature such that any lessee can use them without major modifications

Correct Answer:

At the inception of the lease, the present value of the minimum lease payments amounts to at least substantially all of the fair value of the leased asset

Question 3

A company enters into a 5-year lease of an office building. The lease payments are ₹10,00,000 annually, payable at the end of each year. The lessee's incremental borrowing rate is 10% per annum. (Present value factor of an ordinary annuity for 5 years at 10% is 3.7908). Under Ind AS 116, what is the initial lease liability to be recognized by the company?

₹50,00,000 ₹37,90,800 ₹41,69,880 ₹34,46,200

Correct Answer:

₹37,90,800

Question 4

Which of the following represents the correct sequence of steps in the 5-step revenue recognition model under Ind AS 115?

Identify contract -> Identify performance obligations -> Determine transaction price -> Allocate transaction price -> Recognize revenue Identify performance obligations -> Identify contract -> Determine transaction price -> Allocate transaction price -> Recognize revenue Identify contract -> Determine transaction price -> Identify performance obligations -> Allocate transaction price -> Recognize revenue Identify contract -> Identify performance obligations -> Allocate transaction price -> Determine transaction price -> Recognize revenue

Correct Answer:

Identify contract -> Identify performance obligations -> Determine transaction price -> Allocate transaction price -> Recognize revenue

Question 5

Under AS 13 (Accounting for Investments), how should current investments be valued in the financial statements?

At historical cost only At fair value / market value only At lower of cost and fair value At cost plus accrued interest/dividends

Correct Answer:

At lower of cost and fair value

Question 1

Exam overview

About this Exam

Prepare with the IBPS RRB CA Officer Scale II Practice Questions - IBPS RRB Chartered Accountant Officer Scale II (IBPS, India) Exam practice quiz. This question bank includes 100 questions covering company, year, financial, income, and auditor. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

More details

Additional Information

IBPS RRB CA Officer Scale II Practice Questions - IBPS RRB Chartered Accountant Officer Scale II (IBPS, India) Exam

This practice set contains 100 questions from the matching question bank and focuses on company, year, financial, income, and auditor. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

Quiz information

Frequently Asked Questions

The complete question count is available after full access is unlocked.

No fixed duration is currently configured for this quiz.

Question explanations are included where they are available in the quiz content, helping you review the reasoning after answering.

Yes. You can retake the practice test again as you continue studying during your available access period.

After your access is confirmed, you can continue into the complete practice exam from this quiz flow.

Unless explicitly stated otherwise, this page provides independent practice material for study and exam preparation and is not the official examination itself.

Keep studying

Correct Answer:

Correct Answer:

Correct Answer:

Correct Answer:

Correct Answer:

About this Exam

Additional Information

IBPS RRB CA Officer Scale II Practice Questions - IBPS RRB Chartered Accountant Officer Scale II (IBPS, India) Exam

Frequently Asked Questions

Related Questions

809 Field Training Officer Practice Exam

Certified U.S. Export Compliance Officer (CUSECO) Document Practice Exam

Certified Public Accountants (CPA) Ethics Practice Exam

Certified Public Procurement Officer (CPPO) Practice Test

Chartered Alternative Investment Analyst (CAIA) Level I Practice Test

Chartered Alternative Investment Analyst (CAIA) Level II Practice Test