Classical

Financial and Management Accounting - Financial and Management Accounting Questions

46:  
An expenditure in the nature of revenue enhancing activity is normally regarded as a
A.

Revenue expenditure

B.

Capital expenditure

C.

Deferred revenue expenditure

D.

None of the above

 
 

Option: B

Explanation :


47:  
Which accounting standard deals with accounting for amalgamations?
A.

AS-24

B.

AS-10

C.

AS-20

D.

AS-14

 
 

Option: D

Explanation :


48:  
In case of fixed capital accounts, following are recorded in the capital accounts of partners
1. Balance of capital in the beginning of the year
2. Fresh capital introduced during the current year
3. Permanent withdrawal of excess capital and closing balance of capital
4. Income tax of partner.
Select the correct answer using the codes given below:
A.

1 and 2

B.

1,2 and 4

C.

1,2 and 3

D.

1,2,3 and 4

 
 

Option: C

Explanation :


49:  
What is the correct sequence of the following heads of assets in the balance sheet of a company, as per the Companies Act, 19567
1. Investments
2. Current Assets
3. Fixed Assets
4. Profit and Loss Account
5. Miscellaneous Expenditure
6. Loans and Advances
Select the correct answer using the codes given below:
A.

3,2,1,6,4,5

B.

2,1,3,6,5,4

C.

2,3,1,6,4,5

D.

3,1,2,6,5,4

 
 

Option: D

Explanation :


50:  

Which of the following is an intangible asset?

A.

Plant & Machinery

B.

Land & Building

C.

Furniture

D.

Goodwill

 
 

Option: D

Explanation :




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