Symbiosis International Education Centre 2006 Post Graduate Diploma Business Administration Management Accounting - Question Paper

c) Gross profit -Rs.162,620/-; Total current assets-Rs.312,560/-
d) Gross profit -Rs.162,560/-; Total current assets-Rs.310,560/-
Ans. C
28. select the accurate ans.
Ram is the owner of Dashrath & Sons. He is entitled to annual salary of Rs.8,000/-.
obtain its impact on profit of the enterprise.
a) The net profit will not be affected
b) The gross profit will reduce by Rs.8,300/-
c) The net profit will increase by Rs.8,300/-
d) The net profit will reduce by Rs.8,000/-
Ans. D
29. Bank reconciliation statement must be prepared before the preparation of profit and
loss account and balance sheet.
a) actual
b) false
Ans. A
30. select the accurate ans.
The kind of costs presented to management for elimination of a product-line should
be limited to :-
a) Relevant costs
b) Standard costs
c) Controllable costs
d) Conversion costs
Ans. A
31. select all that apply
Features of convention of conservation are :-
a)____ Anticipates all future losses and expenses
b)____ Ignores all future incomes and profits, unless they are truly realized
c)____ Applicable to evaluation of current assets
d)____ Applicable to evaluation of non-current asset
Ans. A,b,c
32. select all that apply
From the subsequent choose the examples of errors of commission :-
a)____ Purchases of fixed assets recorded in the purchase register
b)____ Sales recorded in the sales register as Rs.2,020/- instead of Rs.2,200/-
c)____ Received cash from Sham, credited to Ram's account
d)____ Paid transport charges, credited to transport charges account
Ans. B,c,d
33. select all that apply
The management of Horngreen Ltd. is deciding whether to continue on working at loss
or to temporarily shut down the factory. State the qualitative aspects that must be
considered before arriving at a decision :-
a)____ Loss of trained personnel
b)____ Loss of regular customers
c)____ Expenditure needed to restart the factory
d)____ Expenditure relating to expanding the business
Ans. A b c
34. select the accurate ans.
The integrated form of all functional budgets is known as :-
a) Budget manual
b) Operating budget
c) Master budget
d) Budgeted Balance Sheet
Ans. C
35. Token or disc method is a related to the system of ______________________.

Earning:   Approval pending.