Classical

Financial and Management Accounting - Financial and Management Accounting Multiple Choice Questions

46:  
The balance sheet is a __ of the assets, liabilities and capital of a concern as on particular date.
A.

Statement

B.

Document

C.

Picture

D.

Balance

 
 

Option: A

Explanation :


47:  
If the change, because of a business transaction results in the increase of fund then the transactions responsible for such a change is said to be ____ 
A.

uses of fund

B.

schedule of change in working capital

C.

source of fund

D.

funds flow statements

 
 

Option: C

Explanation :


48:  
Match List I (Names of accounts) with List II (Points with which the accounts are concerned) and select the correct answer using the codes given below the lists:
    List - I                                                              List - II
1. Partners current account                      (a) Dissolution of partnership
2. Goodwill account                                   (b) Revaluation of assets on the admission of a partner.
3. Partners drawings account                 (c)  Fixed capitals of partners
4. Profit and Loss                                       (d) Goods taken by partners for private consumption
A.

1-a,2-c,3-b,4-d

B.

1 - c, 2 - a, 3 - d, 4 - b

C.

1- a, 2 - c, 3 - d, 4 -b

D.

1 - c, 2- a, 3 - b,4 - d

 
 

Option: C

Explanation :


49:  
Which one of the following will be treated as revenue expenditure?
A.
Cost incurred for a new exit as required under the local bodies by laws
B.
Interest paid on loan during the construction of works
C.
Cost of pulling down an old building as also the payment made to the architect for the plan of a new building.
D.
A dealer in purchasing sewing machines and spends some money on the repair of ten machines damaged while in transit.
 
 

Option: A

Explanation :


50:  
Match list-I (Ratio) with List-II (Method of calculation) and select the correct answer using the codes given below the lists
    List I                                                    List II
 l. Financial coverage                      a. Efficiency
2. Quick Ratio                                   b. Profitability
3. Stock Turnover Ratio                  c. Risk
4. Margin on sales                          d. Liquidity
A.

1 - c, 2 - d, 3 - a, 4 - b

B.

1 - d, 2 - c, 3 - a, 4 - b

C.

1- d, 2 - c,3 - b,4- a

D.

1 - c, 2 - d, 3 - b, 4 - a

 
 

Option: A

Explanation :




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