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

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6:  
Assertion (A) .A new firm can be profitable and yet not be able to pay its debts as they become due.
Reason (R). New firms often have the problem of having increased investments in inventory and fixed assets at an amount which exceeds cash generated from operations.
A.
Both A and R are true and R is the correct explanation of A.
B.
Both A and R are true but R is not a correct explanation of A.
C.

A is true but R is false
D.

A is false but R is true.
 
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Option: A

Explanation :

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7:  
Revenue is generally recognised as being earned at that point of time when
A.

sale is effected
B.

cash is received
C.

production is completed
D.

debts are collected
 
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Option: A

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8:  

Redeemable preference shares is __

A.

Current assets
B.

Non-current assets
C.

Current liability
D.

Non-Current liability
 
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Option: D

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9:  
Assertion (A). No item of capital expenditure finds its place in the Trading and Profit & Loss Account or some other form of revenue accounts.
Reason (R). Capital expenditure consists of expenditure, the benefit of which is not fully consumed in one accounting period but is spread over several periods.
A.
Both A and R are true and R is the correct explanation of A.
B.
Both A and R are true but R is not a correct explanation of A.
C.

A is true but R is false
D.

A is false but R is true.
 
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Option: A

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10:  
For the purpose of calculating ROI capital employed means
A.

Net Fixed assets
B.

Current assets - current liabilities
C.

Gross Block
D.
Fixed assets + current assets - current liabilities
 
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Option: D

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  • These objective type questions answers can be used to gain a credit score in various undergraduate and post graduate commerce courses like B com and Mcom
  • These questions answers can be used in the preparation of ugc net exams.
  • These questions can be downloaded as Financial and management  accounting online study material pdf.
  • This section can be used for the preparation of quizzes by any commerce student.
  • This section can also be used by commerce students for improving their knowledge in Financial and management accounting
  • These mcq can also be used by any student of XI or XII standard who has opted to study commerce to increase his knowledge.

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