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

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16:  

A, B and C were partners sharing profits and losses in the ratio of 2 : 2 : 1. A retires, Band C purchase share of A by paying Rs 30,000 and Rs 40,000. What is new profit sharing ratio

A.	4:3
B.	2:1
C.	3:4
D.	1:2
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	Option: A Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

17:  

Which of the following statements is correct?

A.	A decrease in current liabilities causes an increase in the working capital.
B.	An increase in current liabilities causes an increase in the working capital.
C.	A decrease in the current assets causes an increase in the working capital.
D.	An increase in the current assets causes a decrease in the working capital.
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	Option: A Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

18:  

Assertion (A). Management accounting provides management with information for decision making.

Reason (R). Management accounting is a branch of cost accounting.

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: C Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

19:  

Match List-I with List-II and select the correct answer using the codes given below the lists:

    List-I                                                                                                   List-II

a. Balance of Debenture Redemption Fund account                 I. Realisation Account

b. Balance of Sinking Fund account for                                        II. Funds flow statement

     the replacement of an asset.

c. On dissolution of a firm, the provisions made for                  III. General Reserve

    doubtful debts appearing in Balance Sheet.

d. Financial consequences of business operations.                 IV. Asset account

 

 

A.	a     b      c      d   IV    III      I      II
B.	a     b      c      d   III    IV      I      II
C.	a     b      c      d   I       II      IV    III
D.	a     b      c      d   III    IV      II      I
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	Option: B Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

20:  

Which one of the following is correct about margin of safety ratio?

A.	Capital employ / Net worth
B.	Contribution / sales value
C.	Operating profit / contribution
D.	Contribution / Sales of BEP
	Answer Report Discuss
	Option: D Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

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