Financial and Management Accounting - Financial and Management Accounting Objective Type Questions

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36:  

For piecemeal distribution of cash for return of capital among the partners on dissolution, the method adopted should ensure that the amount finally left unpaid i.e., the loss to be borne by the partners is in

A.	Profit-sharing ratio
B.	Proportion to closing capital at the time of dissolution
C.	Equal proportion
D.	Proportion to assets realised.
	Answer Report Discuss
	Option: A Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

37:  

The current ratio of a company is 2 : 1. Which of the following suggestions would not change it?

A.	To borrow money for a short time on an interest bearing promissory note
B.	To discount accounts receivable
C.	Purchase of fixed assets
D.	Bills receivable dishonoured.
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	Option: C Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

38:  

Under the head 'provisions' in the balance sheet of a limited company, the following provisions made for, are to be disclosed

1. Proposed dividend

2. Provident Fund schemes

3. Pension and other staff-benefit schemes

4. Taxation

The correct chronological order of their disclosure is

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

39:  

Which accounting standard deals with Earning per share?

A.	AS-14
B.	AS-26
C.	AS-9
D.	AS-20
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	Option: D Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

40:  

A low stock turnover ratio is not desirable because it reveals the

1. Accumulation of obsolete stock

2. Carrying of too much stock

3. High cost of goods sold

Select the correct answer using the codes given pelow :

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

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