Batch I

Batch I was super easy test. Everyone is expecting score in 80s and 70s would provably be average marks. Best of luck

1. ROI is the ration between: Net Income/Assest

2. Relation between intetest rate & bond price: Opposite

3. Unsecured bond is called: Debenture

4. Prime coste include: All

5. Max number of parters acc to act 1932: 25

6. An auditor is also for a auditing: Watch dog

7. Prepaid expences are: Current Accounts

8. Owner of a company is also called: shareholder

9. Basic of cost accounting is: all (ascertain+

10. Chip was incurred in: 1999

11. Depriciation of asset is based upon: Economic Life

12. Which tangible asset: Furniture

13. A shareholder become part of a firm by knowing: the vale of return income

14. Internal audit is done by: the managment

15. If the interet rates increases: Bond purchasing decreases

16. More the risk: wale ka none of these ta ans

17. Audit done by employes is: Management Audit

18. Periodiodical audit is known as: Annual audit

19. Owner equaity increase by: Assets

20. A & B are partners fir 2:1, if they gave C 1/4 of share C paid 3000, then total goidwill of company is: 9000

21. Modern definition of computer: Number & alphabetic intetface

22. who appoints statutry auditors: Central Govt

23. Audit laws are to be imposed by: Statutary laws

24. A firm has to pay returns: Income Tax

25. Secrete reserves can be created by: Private Company

26. The liabality of firm is: O

27. Duration of accounting period is: one year

28. When the interest rate fall: bond purchase decreases

29. The disposal products or unsold is reffered: closing stock

30. Entry that affect more than one account is: Journal

31. Hello, where are you going: Hello= Subject

32. She laughed heartily: Laughed=Intransitive verb

33. He ran as fast as he: could

34. Seeing is believing: Seeing=Gerund

35. He was an ________ who was fond of weird pets: Ambitious

36. This house is superior __________ the other:

38. Audit verification is: exmination of books of account

39. Audit program: helps auditor in performing audit

40. If 18% interest compounded quarterly then discount factor of 8th year will be: 4.01..

41. Operating costing is done in: service industry

42. Current assets less current liabilities is: working capital

43. Excess of sales over cost of sales is: gross profit

44. Any liabilities which arised due to certain events' contingent liabilities

45. Audit on refund of advance tax is: audit of receipt

46. A company legally registered and owned by one or more persons or entities is known as: Partnership

47. Which expense will be vouched while performing audit of bill of entry: custom duties

48. An audit compulsory by law is: statutory audit

49. Dividend approved by shareholders in; annual general meeting

50. Which of following is not permanent part of books of accounts: trail balance

51. Selling and distribution expenses are allocated on the basis of: factory cost

52. Interest on capital of partners is credited to: capital account

53. Capital expenditures are incurred: to obtain benefits in future period

54. Seller offer discount to buyer for early payments:cash discount

55. Break up value of shares:net asset value

56. Planning in Quantitative terms is: budget

57. Bottom of income statement is: net profit

58. At year end unsold goods are deducted from: opening stock

59. Items in balance sheet are presented on the basis of percentage of: total assets

60. ROI is the Ratio B/W: Return on investment

61. Rebate On Bills Discounted is: income

62. Prepaid expenses are example of: current assets

63. Important tool of cost planning: Budget

64. Risk and return comparison: none

65. Gross profit 5000.. and net profit is 25% of it ,then expense are: Rs. 3750

66. Prime cost consist of: Direct material direct labour and direct expense

67. Where the new share is issued: Secondary market

68. Memorandum of association includes: All of these i.e registered office, object of company n share capital

69. Who appoints statutory auditors: Central govt

70. Interest rate and bond price: Move in same direction

71. Unsecured bond is called: Debenture bond

72. Basic Objective of Cost Accountin: Cost ascertainment

73. Revenue from services in cash flow statement, is classified as: operating inflows