Sikkim-Manipal University of Health Medical and Technological Sciences (SMUHMTS) 2007 M.B.A Financial and Management Accounting - exam paper

c.sale of old newsprint a/c d.none

Q28 Fixed assets are
a.kept in the business for use over a long time for earning income
b. Meant of resale c. Meant for conversation into cash as quickly as possible
d. none

Q29 Good will is a
a.Acurrent asset b. Tangible asset
c. Intangible asset d.none

Q30 Stock is
a. included id fixed assets b. Part of current assets
c. Intangible assets d.none

Q31The trading a/c indicates
a. financial position of the concern b. The net profit earned
c.The gross profit earned d. none

Q32The profit &loss a/c indicates
a. financial position of the concern b. The net profit earned
c.The gross profit earned d.none

Q33 closing stock is valued at
a. cost b. Market value
c.cost of market price which ever is lower d. none

Q34 The drawing of a proprietor for the year 2002 are Rs 15,000.profit for the year Rs 25,000 & Capital at the end Rs 70,000.calculate the capital at the beginning
a.Rs 60,000 b.Rs 70,000
c.Rs 80,000 d. Rs 55,000

Q35 outstanding rent is
a. real a/c b. personal a/c
c.personal a/c with out name d.an expense

Q36 outstanding income is
a. an asset b. a liability
c. an expense d. none

Q37 The manager is entitles to commission of 5% on profit before deductionthe commission .The profitis Rs 2100, therefore commission will be
a.Rs 100 b.Rs105
c.Rs110.53 d.none

Q38 prepaid rent is
A. an asset b. a liabitity
c.an expense d none

Q40 Ideal current ratio is
a. 1:1 b.1:2
c.2:1 d 2:2

Q41.liquid asset do not include
a. cash b. bank
c. debtors d.stock

Q42 stock turnover ratio is computed by dividing cost of good sold by
a. opening stock b. closing stock
c.average stock d.none

Q43when the equity capital exceed ib comparission with the debentures & preference share the capital structure the capital structure is refered to

Earning:   Approval pending.