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

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11:  

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

    List I                                                                                        List  II

a. Heavy amount of premium on redemption of            1. Capital expenditure

    preference shares

b. Excess of sale proceeds of fixed                                 2. Deferred revenue expenditure

    assets over their original cost

c. Cost of  installation of an old machine                       3. Capital gain

d. Freight paid on purchase of raw material                 4. Revenue expenditure

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

12:  

A, B and C were partners sharing profits in the ratio of 3 : 5 : 7. C retires and his share were taken up by A and B in the ratio of 3: 2. What is new ratio? 

A.	13:12
B.	2:13
C.	6:7
D.	7:6
	Answer Report Discuss
	Option: B Explanation : Click on Discuss to view users comments. CHANCHAL said: (10:15pm on Saturday 18th February 2017) ANSWER WILL BE 12:13 Write your comments here: Updating your Comments.. Updating your Comments..

13:  

What does the 'net worth' of a business signify?

A.	Total assets
B.	Current - total liabilities
C.	Fixed assets - current assets
D.	Total assets - total liabilities
	Answer Report Discuss
	Option: D Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

14:  

Match the following by writing the number of correct choice

Column A                                                                        Column B

(i) Debit and Credit Vouchers are also called     (a) Non-cash  transactions

(ii) Credit vouchers are prepared for                     (b) Cash payment of the business

(iii) Transfer Vouchers are prepared for               (c) Cash Vouchers

(iv) Debit Vouchers are prepared for                     (d) Cash receipts of the business

 

A.	i       ii      iii     iv (c)   (d)   (a)   (b)
B.	i       ii      iii     iv (a)   (b)    (c)   (d)
C.	i       ii      iii     iv (d)   (c)    (b)   (a)
D.	i       ii      iii     iv (c)   (a)    (b)   (d)
	Answer Report Discuss
	Option: A Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

15:  

Which of the following is a type of partner?

A.	Sleeping or Dormant
B.	Nominal
C.	Minor
D.	All of the above
	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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