Amity 1st Semester

Accounting for Manager

INR – 500/-only Pay Now

USD 10/- PayPal.Me/atozhomework

Any Three
Q1. Explain five different Accounting Principles.
Q2. Discuss the forms and contents of financial statements.
Q3. What is the difference between Common Size and Comparative Statements?
Q4. What are the elements of Cost Classification and Allocation?
Q5. What are the various techniques of Budgeting?

CASE STUDY:
Financial statement analysis involves gaining an understanding of an organization’s financial situation by reviewing its financial statements. This review involves identifying the following items for a company’s financial statements over a series of reporting periods: Trends. Create trend lines for key items in the financial statements over multiple time periods, to see how the company is performing. Typical trend lines are for revenues, the gross margin, net profits, cash, accounts receivable, and debt. Proportion analysis. An array of ratios are available for discerning the relationship between the size of various accounts in the financial statements. For example, one can calculate a company’s quick ratio to estimate its ability to pay its immediate liabilities, or its debt to equity ratio to see if it has taken on too much debt. These analyses are frequently between the revenues and expenses listed on the income statement and the assets, liabilities, and equity accounts listed on the balance sheet. Financial statement analysis is an exceptionally powerful tool for a variety of users of financial statements, each having different objectives in learning about the financial circumstances of the entity.

Q 1: Who are the various users of Financial Statement Analysis?
Q2. Explain what are the various methods of Financial Statement Analysis.
Q3. Discuss the Limitations of Financial Statement Analysis.

MCQ
Q1: Principal books of accounting is known as _____________
a. Journal
b. Profit and loss
c. Ledger
d. Balance sheet

Q2: Trading and profit and loss account is known as __________statement
a. Income
b. Expense
c. Position
d. Revenue

Q3: Trading account is ________
a. Statement
b. Positional a/c
c. Capital a/c
d. Account

Q4: What is the equation of gross profit
a. Opening stock +Purchase +Direct expense Closing stock
b. Sales – Cost of goods sold
c. Sales returns Cost of goods sold
d. Sales + Cost of goods sold

Q5: Balance sheet is known as ____________ statement
a. Positional
b. Expense
c. Income
d. Expenditure

Q6: Minimum number of members in case of public company
a. 1
b. 2
c. 5
d. 7

Q7: Minimum number of members in case of private company is
a. 1
b. 2
c. 3
d. 4

Q8: Which book is known as total of debit and credit
a. Balance sheet
b. Trial balance
c. Journal
d. Ledger
Q9: Maximum no .of members in case of public company is
a. 0
b. unlimited
c. 50
d. 100

Q10: Maximum no. of members in case of private company is
a. 50
b. 100
c. 150
d. 200
Q11: Debit aspect is known as____________and Credit aspect is known as_________________
a. Receiving and giving
b. Liability and asset
c. Expense and Gains
d. Income and Expenses

Q12: Property of the company belongs to
a. Company
b. Shareholders
c. Members
d. Promoters

Q13: Outstanding expenses are those expenses which have become ________ during the accounting year
a. Payable
b. Payed
c. Received
d. Receivable
Q14: The liability of members if company is limited by guarantee
a. Unpaid value of shares
b. Guarantee amount
c. Unlimited liability
d. None of the above

Q15: Which of the following assets does not depreciate?
a. Machinery and Equipment
b. Patents
c. Land
d. Furniture

Q16: Balance sheet show __________ and ____________ of fund
a. Incomes and losses
b. Sources and applications
c. Debit and Credit
d. Asset and liability
Q17: For what use are preparing profit and loss a/c
a. To find out net profit or net loss
b. To find out gross profit or gross loss
c. To know closing stock
d. To determine the sales

Q18: Why use prepare trial balance
a. To check arithmetical accuracy of a/c
b. To know the financial position
c. To know the gross profit
d. To know the capital of the firm

Q19: The liability of members if company is limited by shares
a. Unpaid value of shares
b. Guarantee amount
c. Unlimited liability
d. None of the above

Q20: Which of these is accounting equation?
a. Liability = Asset + Capital
b. Asset = Liability Capital
c. Capital = Asset + Liability
d. Asset = Liability +Capital

Part-2

Q1: Interest on capital is
a. Imputed cost
b. Sunk cost
c. Direct cost
d. Indirect cost

Q2: ____________ establishes the relationship between quick/ liquid assets and current liabilities.
a. Quick ratio
b. Total Assets to Debt Ratio
c. Debt Equity Ratio
d. Solvency Ratio

Q3: Which of the following is NOT a cash outflow for the firm?
a. depreciation
b. dividends
c. interest payments
d. taxes
Q4: The analysis and interpretations of the financial statement will reveal
a. the financial position
b. the profitability
c. None
d. Both

Q5: Cost accounting differs from financial accounting in that financial accounting:
a. Is mostly concerned with external financial reporting.
b. Is mostly concerned with individual departments of the company.
c. Provides the additional information required for special reports to management.
d. Puts more emphasis on future operations.

Q6: Which of the following is the main objective of a financial statement?
a. to know the solvency
b. to know the debt capacity
c. to know the earning capacity
d. All

Q7: __________expenses are those which are not treated as regular expenses of the business.
a. Non-operating
b. Operating
c. Current
d. Non-Current

Q8: ____________ measures the relationship between long-term debt and shareholders funds. Quick Ratio/Acid test ratio/Liquid ratio
a. Total Assets to Debt Ratio
b. Debt Equity Ratio
c. Quick ratio
d. Solvency Ratio

Q9: Which technique used for figures of two or more periods are placed side by side to facilitate easy and meaningful comparisons?
a. Comparative statement
b. Common size statement
c. Trend Analysis
d. None
Q10: The ___________ of a company determines its ability to utilise the Assets employed in the company efficiently and effectively to earn a good return.
a. Return on Assets
b. Analysis Ratio analysis
c. Dividend Coverage Ratio
d. Analysis Ratio analysis

Q11: “The costs that can be easily identified with a department, process or product are termed as”
a. Common Cost
b. Traceable Cost
c. Untraceable Cost
d. Avoidable cost
Q12: _______states the number of times an organization is capable of paying dividends to shareholders from the profits earned during an accounting period.
a. Working capital turnover ratio
b. Dividend Coverage Ratio
c. Analysis Ratio analysis
d. Profitability Ratios

Q13: “The ____________ of a company determines its ability to withstand competition and adverse conditions like rising costs, falling prices or declining sales in the future.”
a. Return on Assets
b. Ratio calculation
c. Ratios
d. Profit Margin
Q14: “___________ also referred to as the statement of Source and Application of Funds provides insight into the movement of funds and helps to understand the changes in the structure of assets, liabilities and equity capital.”
a. Cash Flow Statement
b. Statement of Changes in working capital
c. Statement of Changes in Financial Position
d. Fund Flow Statement

Q15: The __________from the past performance facilitates the firm to anticipate the future requirement of financial resources.
a. Fund Flow Statement
b. Statement of Changes in Financial Position
c. Projected fund flow statement
d. Cash Flow Statement

Q16: The balance sheet shows
a. the source of working capital
b. the change in working capital
c. Both
d. None
Q17: “A _______ reports on a company’s cash flow activities, particularly its operating, investing and financing activities.”
a. Income statement
b. cash flow statement
c. Balance Sheet
d. Profit and loss statement

Q18: The __________ measures how well a company is utilizing its working capital to support a given level of sales. Working capital is current assets minus current liabilities.
a. Analysis Ratio analysis
b. Price earnings ratio
c. Working capital turnover ratio
d. Profitability Ratios

Q19: Cost which can be identified with the output is called as
a. Product cost
b. Direct cost
c. Fixed cost
d. Variable cost
Q20: The term financial statement refers to
a. Income statement
b. Cash flow and Fund Flow
c. Balance sheet
d. All

MCQ Online Test

Contact for multiple choice online test question bank.

Registrations
No Registration form is selected.
(Click on the star on form card to select)
Please login to view this page.
Please login to view this page.
Please login to view this page.