Sikkim-Manipal University of Health Medical and Technological Sciences (SMUHMTS) 2006 M.B.A Financial Management FINANCE & ACCOUNTING - Question Paper

MULTIPLE option ques.

PART - A

ACCOUNTING

1. The success of business depends on the factor.
a. Land
b. Labour and capital
c. Management
d. All of the above

2. _______ states that “anticipate no profits but give for all possible losses”.
a. The Realization concept
b. Concept of prudence
c. Both a & b
d. The Accrual concept

3. Luca Fra Pacioli, _______ mathematician.
a. An Italian
b. An Indian
c. An American
d. None of the above

4. Voucher can be of
a. 2 kinds
b. 3 kinds
c. 4 kinds
d. 6 kinds

5. There are _______ elements of profit and loss Account.
a. Two
b. Three
c. Four
d. Five

6. The term Credit is derived from
a. French word
b. Greek word
c. Latin word
d. None of the above

7. _________ is the residual interest of owners in assets over liabilities.
a. Expenses
b. Income
c. Equity
d. None of the above


8. _________ records goods returned to the supplier (s).
a. Salas day book
b. Purchase day book
c. Returns Inward book
d. Return outward book

9. _________ records credit sale of traded goods.
a. Purchase day book
b. Sales day book
c. Cash book
d. None of the above

10. _________ of the cash book is not balanced
a. Discount column
b. Bank
c. Cash
d. All of the above

11. There are _______ kinds of primary books.
a. Two
b. 4
c. Six
d. Eight

12. The suffix “e/d” denotes
a. Carried down
b. Count down
c. Credit or debit
d. None of the above

13. Which of the subsequent is a book of secondary entries/
a. Posting
b. Ledger
c. Account
d. None of the above

14. The account maintained by the bank for it customer is a
a. Pay-in-slip
b. Pass book
c. Mirror – version
d. None of the above

15. The bank reconciliation statement is
a. Not a part of books of accounts
b. A part of books of accounts
c. A part and parcel of books of accounts
d. Both b & c




16. ________ provide the details of transactions ranging from bank and the customer.
a. Reconciliation statement
b. Bank statement
c. Pass book
d. Cash book

17. _________ is not a part of books of account.
a. Trial balance
b. P & L A/c

Earning:   Approval pending.