Symbiosis International Education Centre 2009 Post Graduate Diploma Information Technology Management Accounting - Question Paper

financial accounting & cost accounting
accurate ans Management
Your ans Management
Multiple option Multiple ans
ques. Contents of Uniform Cost Manual are
accurate ans Organization , Cost Accounting system , Presentation of info
Your ans Cost Accounting system , Presentation of info , Financial accounting system
Multiple option Single ans
ques. Going concern concept is also known
accurate ans Continuity concept
Your ans Continuity concept
choose The Blank
ques. Education facility to workers and their children, pension, superannuation fund are examples of ________
incentives.
accurate ans Non-monetary
Your ans Non-monetary
Multiple option Multiple ans
ques. Management Accounting is…
accurate ans Designed particularly for internal use , Helpful in estimating the future along with past period ,
Useful in furnishing the necessary info to the management
Your ans Designed particularly for internal use , Helpful in estimating the future along with past period , Useful
in furnishing the necessary info to the management
Multiple option Multiple ans
ques. Ram and Laxman are partners of Kush & Bros. As on first April, 2003 Ram's capital is Rs.50,000/- and
Laxman's capital is Rs.80,000/-. If interest on capital is to be given @ 10% p.a., what will be amount of capital of
every of the partners as on 31st March, 2004, assuming there were no additions during this period? Also, state the
treatment of this item in the Profit and loss account.
accurate ans Ram's capital Rs.55,000/- , Laxman's capital Rs.88,000/- , Interest on capital should be debited to the
Profit and loss account
Your ans Ram's capital Rs.55,000/- , Laxman's capital Rs.88,000/- , Interest on capital should be debited to the
Profit and loss account
Multiple option Single ans
ques. The credit side of the sales book was overcast by Rs.2,000/-. As a outcome of this rectification, what of the
provided impacts is likely to happen?
accurate ans The liability side of the balance sheet will increase by Rs.2,000/-
Your ans The liability side of the balance sheet will increase by Rs.2,000/-
True/False
ques. A business is an activity carried out with the intention of earning the profit.
accurate ans actual
Your ans actual
Multiple option Single ans
ques. Double entry system of accounting follows the principle of :
accurate ans Every debit has corresponding credit
Your ans Every debit has corresponding credit
Multiple option Multiple ans
ques. Identify the fixed expenses from the subsequent.
accurate ans Rent and taxes of the factory , Wages paid to indirect workers like cleaners, helpers,etc. , Salary paid
to factory supervisor
Your ans Rent and taxes of the factory , Wages paid to indirect workers like cleaners, helpers,etc. , Salary paid to
factory supervisor
choose The Blank
ques. Depreciation charged on office furniture on straight line basis is an example of ________.
accurate ans Administration overheads
Your ans Administration overheads
True/False
ques. Balance sheet shows the financial status of the business at provided period.
accurate ans actual
Your ans actual
True/False
ques. Long term loan borrowed from financial institution comes under the heading of long term liabilities.
accurate ans actual
Your ans actual
True/False
ques. Under the Rowan plan bonus is a fixed percentage.
accurate ans False
Your ans False
True/False
ques. The amount of income for the current period which is not received during the current period, is called
Accrued Income.
accurate ans actual
Your ans actual
Match The subsequent
ques. accurate ans Your ans
Ledger Maintain all kinds of accounts Maintain all kinds of accounts
Audit Reviewing internal control system Reviewing internal control system
Accounting Process of analyzing & interpretation Process of analyzing & interpretation
Journal Book of original entry Book of original entry
Multiple option Multiple ans
ques. Management accounting is concerned with the subsequent activities :
accurate ans Decision making , Safeguarding assets , Planning and controlling activities
Your ans Decision making , Safeguarding assets , Planning and controlling activities
Multiple option Single ans
ques. Quantify the increase in profit on account of subsequent errors : (a) Repairs of furniture amounting to
Rs.2,000/- were debited to furniture account. Furniture is depreciated @10% p.a. (b) Interest received on bank deposits
was credited to dividend received account, Rs.1,550/- (c) A television purchased for the managing director's office for
Rs.45,000/- was debited to Interior decoration expenses.
accurate ans Rs.43,200/-
Your ans Rs.43,200/-
Multiple option Single ans
ques. Trade Discount refers to the discount . . .
accurate ans received on purchases
Your ans received on purchases
choose The Blank
ques. If the total amount on the ________ side of commission account is more than the total of its credit side, the
commission account is stated to have a Debit balance.
accurate ans Debit
Your ans Debit
Multiple option Multiple ans
ques. Features of convention of materiality are . . .
accurate ans transactions having material impact on profitability should be considered , Insignificant transactions
will be ignored
Your ans transactions having material impact on profitability should be considered , Insignificant transactions
will be ignored

Earning:   Approval pending.