The basic function of financial accounting is to:
A. Record all business transaction
B. Interpret financial data
C. Assist the management in performing function effectively
D. None of these
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Profit from sale of assets is example for:
A. Revenue Profit
B. Capital Profit
C. Loss
D. None of these
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The primary objective of cost accounting is:
A. Ascertain the cost of goods and services
B. Ascertain the profit
C. Presentation of all data
D. None of these
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Financial accounting deals with:
A. Determination of cost
B. Determination of profit
C. Determination of price
D. Determination of selling price
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Systems approach to management refers to:
A. The management information system
B. The cybernetic approach
C. Systematic analysis
D. None of the above
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Which of the following does NOT form a part of the function performed by an office manager?
A. Making Corporate Strategies
B. Training of Staff
C. Work Measurement and Compensation Management
D. Secretarial Services
E. Keeping Human Relations
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Of the following account types, which would be increased by a debit?
A. Liabilities and expenses
B. Assets and equity
C. Assets and expenses
D. Equity and revenues
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Inventory accounts should be classified in which section of a balance sheet?
A. Current assets
B. Investments
C. Property, plant and equipment
D. Intangible assets
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Techniques of capital budgeting is applied to evaluate:
A. Investment in financial assets
B. Investment in fixed assets
C. Investment in current assets
D. Investment in wasting assets
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The most recent consideration in product packaging is
A. Cost effectiveness
B. Product protection
C. Product promotion
D. Economy
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The full disclosure principle, as adopted by the accounting profession, is best described by which of the following?
A. All information related to an entity's business and operating objectives is required to be disclosed in the financial statements
B. Information about each account balance appearing in the financial statements is to be included in the notes to the financial statements
C. Enough information should be disclosed in the financial statements so a person wishing to invest in the stock of the company can make a profitable decision
D. Disclosure of any financial facts significant enough to influence the judgment of an informed reade
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NAV and AMC are mainly applicable for . . . . . . . .
A. Mutual Funds
B. Stock Exchange
C. Cooperative Institutions
D. Banks
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'Weeding out' is:
A. Removing inefficient workers
B. Framing new rules and regulations
C. Determining salaries and wages
D. Destroying papers which are no longer required
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Proprietor (owner) is treated as creditor of business due to:
A. Periodicity Concept
B. Materiality Principle
C. Entity Concept
D. Consistency Concept
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. . . . . . . . is a summary of all transactions relating to particular account.
A. Balance sheet
B. Trial balance
C. Ledger
D. Journal
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The Cash account on the balance sheet should not include which of the following items?
A. Travel advances to employees
B. Currency
C. Money orders
D. Deposits in transit
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The current market price of a company's share is Rs. 90 and the expected dividend per share next year is Rs. 4.5. If the dividend is expected to grow at a constant rate of 8%, the shareholder's required rate of return will be
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The combination movement in cotton textile industry of India started in:
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If the total assets of the company amount to Rs. 1,50,000 and owner's equity is Rs. 70,000, the amount of liabilities will be:
A. Rs. 70,000
B. Rs. 80,000
C. Rs. 90,000
D. Rs. 1,00,000
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Cash discount allowed to a debtor should be credited to:
A. Discount account
B. Customer's account
C. Sales account
D. Cash account
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