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

c)books d)journal

7. Which of the subsequent is a kind of vouchers ?
a)receipt voucher b)payment vouchers
c)journal vouchers d)all of these

8. ----------------- is drawn to record all non-cash transactions and events.
a)receipt voucher b)payment vouchers
c)journal vouchers d) all of the above

9. FASB stands for:
a)financial accounting standard board
b)financial accounting state board
c)none of the above

10. Which of the subsequent formula is accurate ?
a)assets = liability + capital
b) liability =assets + capital
c)assets = capital – liability
d) none of the above

11. ------------ is the residual interest of owners in assets over liabilities.
a)assets b)capital
c)capitalization d) liability

12. The income and expenses should be recognized as & when they are earned and incurred , irrespective of whether the money is received or paid in connection thereof.
a)accrual concept b)cost concept
c)cash basis d)none of the above

13. If you pass in MBA. It will provide you a great deal of satisfaction .this expression can not be made in money term . this is because of which concept ?
a)accrual b)money measurement
c)cost concept d)business entity concept

14. ------------- is a book of 1st entry or prime entry .
a)primary book b)secondary book
c)cash book d)all of above

15. ------------- records credit sale of goods.
a)purchase day book
b)sale day book
c)journal day book

16. ------------ is a documentary evidence in writing , containing an unconditional
order signed by the maker , directing a certain person to pay a certain sum of money to the bearer of the instument.
a)B/E b)B/R
c)B/P d)all

17. ------------- records goods returned to the suppliers.
a)return inward b)return outward
c)sales return d) none of the above

18. ------------- records credit purchases of traded gooda and ------------- records
credit sale of traded goods.
a) goods return , goods purchased
b) purchase day book , sale day book
c) purchase return , sales return
d) sales day book , purchase day book

19. Ram commenced business with Rs. 15000.
The J.E for this is:
a)Ram’s a/c dr. b)Ram’s capital a/c dr.
to cash a/c to cash a/c
c)cash a/c dr. d)capital a/c dr.
to Ram’s capital a/c to Ram’s a/c

Earning:   Approval pending.