Chapters
1. |
………………………Accounting is concerned with measurement of the cost and value of people for the organization. |
A. | financial accounting |
B. | management accounting |
C. | corporate accounting |
D. | human resource accounting |
Answer» D. human resource accounting |
2. |
The important objective of …………………..accounting is to organize the accumulated financial data into meaningful information. |
A. | financial accounting |
B. | management accounting |
C. | corporate accounting |
D. | human resource accounting |
Answer» A. financial accounting |
3. |
……………………..accounting is the adoption and analysis of accounting
|
A. | financial accounting |
B. | management accounting |
C. | corporate accounting |
D. | human resource accounting |
Answer» B. management accounting |
4. |
Planning is that function of ……………………..which requires an efficient system of decision – making. |
A. | finance |
B. | management |
C. | h.r |
D. | administration. |
Answer» B. management |
5. |
…………………..costs are pre-determined targets adainst which actual results are evaluated. |
A. | marginal |
B. | standard |
C. | actual |
D. | budgeted |
Answer» B. standard |
6. |
Financial Accounting data is primarily meant for ………………… |
A. | external users |
B. | internal users |
C. | employees |
D. | bank |
Answer» A. external users |
7. |
Cost Accountant should report to the ……………management. |
A. | top |
B. | middle. |
C. | administration |
D. | lower |
Answer» A. top |
8. |
The transaction which increase working capital are ………….. of funds |
A. | sources |
B. | application |
C. | utilization |
D. | diversion |
Answer» A. sources |
9. |
Management accounting begins where………………. accounting ends. |
A. | financial accounting |
B. | management accounting |
C. | cost accounting |
D. | human resource accounting |
Answer» C. cost accounting |
10. |
Stock is considered as a liquid asset as anytime it can be converted into cash immediately. |
A. | yes |
B. | no |
C. | only yes |
D. | none of the above |
Answer» B. no |
11. |
. Return on properties funds is also known as. |
A. | return on net worth |
B. | return on shareholders fun |
C. | return on the shareholders investment |
D. | all the above |
Answer» D. all the above |
12. |
What will be the Gross Profit if , total sales is Rs 2,60,000,cost of net goods sold is Rs 2,00,000 & sales return is Rs10,000 ? |
A. | 13 % |
B. | 28% |
C. | 26% |
D. | 20% |
Answer» D. 20% |
13. |
Which of the following is not included in current assets. |
A. | debtors |
B. | stock |
C. | cash at bank |
D. | cash in hand |
Answer» B. stock |
14. |
Liquidity ratios are expressed in |
A. | pure ratio form |
B. | percentage |
C. | rate or time |
D. | none of the above |
Answer» A. pure ratio form |
15. |
Working capital turnover ratio can be determined by : |
A. | ( gross profit / working capital ) |
B. | ( cost of goods sold / net sales ) |
C. | ( cost of goods sold / working capital) |
D. | none of the above |
Answer» A. ( gross profit / working capital ) |
16. |
Determine Working capital turnover ratio if, Current asset is Rs 1,50,000, current liability is Rs 1,00,000 & cost of goods sold is Rs 3,00,000. |
A. | 5 times |
B. | 6 times |
C. | 3 times |
D. | 1.5 times |
Answer» B. 6 times |
17. |
The ratio analysis is helpful to management in taking several decisions, but as a mechanical substitute for judgement and thinking, it is worse than useless. |
A. | true |
B. | false |
C. | may be false |
D. | both a and b |
Answer» A. true |
18. |
Profit for the objective of calculating a ratio may be taken as |
A. | profit before tax but after interest |
B. | profit before interest &tax |
C. | profit after interest & tax |
D. | all the above |
Answer» D. all the above |
19. |
If sales is Rs 5,00,000 & net profit is Rs 1,20,000 Net profit ratio is |
A. | 24% |
B. | 416% |
C. | 60% |
D. | none of the above |
Answer» A. 24% |
20. |
General profitability ratios are based on |
A. | investment |
B. | sales |
C. | a & b |
D. | none of the above |
Answer» B. sales |
21. |
The ratios which reveal the final result of the managerial policies and performance is . |
A. | turnover ratios. |
B. | profitability ratios. |
C. | short term solvency ratio. |
D. | long term solvency ratio. |
Answer» B. profitability ratios. |
22. |
Return on investment is a . |
A. | turnover ratios. |
B. | short term solvency ratio. |
C. | profitability ratios. |
D. | long term solvency ratio. |
Answer» C. profitability ratios. |
23. |
Net profit ratio is a . |
A. | turnover ratio. |
B. | long term solvency ratio. |
C. | short term solvency ratio |
D. | profitability ratio. |
Answer» D. profitability ratio. |
24. |
Stock turnover ratio is a . |
A. | turnover ratio. |
B. | profitability ratio. |
C. | short term solvency ratio. |
D. | long term solvency ratio. |
Answer» A. turnover ratio. |
25. |
Current ratio is a |
A. | short-term solvency ratio. |
B. | long-term solvency ratio. |
C. | profitability ratio. |
D. | turnover ratio. |
Answer» A. short-term solvency ratio. |
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