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

d) Considers only financial data
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31. select the accurate ans.
The subsequent data is extracted from the books of a manufacturing concern for the year 2003-04: Direct materials Rs.205,000/-; direct labour Rs.75,000/-; fixed overheads Rs.60,000/-; variable overheads Rs.100,000/- and sales Rs.500,000/-. compute the break even point if there is an increase of 10% in the fixed expenses
a) Rs.250,000/-
b) Rs.275,000/-
c) Rs.350,000/-
d) Rs.375,000/-
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32. select all that apply
Locate the fault and its features in the subsequent :-
a)____ Compensating errors
b)____ Trial balance will not be affected
c)____ Trial balance will be affected
d)____ The level of unemployment reduces rapidly
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33. select all that apply
choose the entries which need to be rectified :-
a)____ Purchase A/c ......... Dr. to Damodar's A/c (Being furniture purchased from Damodar)
b)____ Gopal's A/c ........... Dr. to cash A/c (Being entry for payment of railway freight for goods purchased)
c)____ Joshi's A/c ........... Dr. to Bank A/c. (Being entry for dishonour of cheque which was originally issued by Joshi)
d)_____ Cash A/c ............Dr. to Suresh's A/c (Being cash received from Suresh for goods sold to him for)
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34. The combination in which various products are sold by a company is known as .
Production mix,standard mix,sales mix,actual mix
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35.Cost Accounting is concerned with computation of the profitability and state of affairs of the organization as a whole
a)true
b)false
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36.Accounting is an art of recording, classifying & summarizing in a significant manner
a)true
b)false
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37. Generally all the liabilities will have balance
Debit,credit,nil,positive
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38. select all that apply
Essentials for effective implementation of budgetary control system are
a. ____ Commitment of top management
b. ____ Clearly described objectives
c. ____ Continuous budget education
d. ____ Zero involvement of top management
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39..Choose the accurate ans
The reporting method used in the costing system should be based on the principle of
a) Management by exception
b) Management by objectives
c) Cost control
d) Cost reduction
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40. select the accurate ans.
Loan @ 12% p.a. of Rs.50,000/- was taken on first March, 2004. obtain the interest expenditure on 31st March, 2004

Earning:   Approval pending.