MEFA
1)The
Closure of Partnership is called (d)
a)Resolution b)Revolution
c)solution d)dissolution
2)Who
of the following is not eligible to become a partner in a firm(b)
a)active b)nominal
c)sleeping d)minor
3)The
minimum paid up capital in a public company is(d)
a)Rs.2lakhs
and higher b)Rs.10lakhs and higher
c)Rs.24lakhs
and higher d)Rs.5lakhs
and higher
4)CAG
means(d)
a)Controller&auditing
General b)Controller&Auditor General
c)Comptroller&Auditing
General d)Comptroller&Auditor General
5)SLR
stands for(c)
a)Standard
Lending rate b)Statutory lending
Ratio
c)Statutory Liquidity ratio d)Statutory rate
6)Which
of the following refers to all those factors that are external to the
individual business unit/industry(c)
a)Policy b)industry
c)Environment
d)License
7)Environment
is basically____ in nature and the business firm is ________ (d)
a)progressive,prospective b)progressive,monetary
c)micro.macro d)macro,micro
8)Monopolies
are done away with(b)
a)taxation
policy b)deregulation
policy
c)monetary
policy d)fiscal policy
9)The
Indian Partnership Act was enacted in (a)
a)1932
b)1942
c)1952 d)1962
10)Purchases
book records(b)
a)cash
purchases b)credit
purchases
c)goods
bought d)goods
11)when
the owner brings in capital of Rs.5000.(a)
a)Both assets and Liability increases
b)asset
increases but liability decreases
c)liability
increases but asset increases
d)Both
assets and liability decreases
12)The
rent paid in cash to landlord is credited to(c)
a)landlord
account b)business account
c)cash account
d)rent account
13)Rent
paid in advance is(b)
a)real
account b)personal
account
c)nominal
account d)None of the Above
14)According
to Robert N.Anthony,which of the following is concerned with accounting
information that is useful to management(b)
a)cost
accounting b)management
accounting
c)financial
accounting d)marginal costing
15)management
accounting starts where___ends(c)
a)cost
accounting b)standard accounting
c)financial accounting d)accounting concepts
and conventions
16)the
trading and profit & loss Account is also called(b)
a)account
statement b)income
statement
c)balance
statement d)cost statement
17)final
account comprises(d)
a)Ledger,trial
balance b)trading,profit accounts
c)Profit
and loss accounts d)trading,profit & loss accounts
18)The
difference between assets and liabilities is called(b)
a)Overdraft b)Capital
c)Net
purchases d)Sales
19)Which
would a business be most likely to use its solvency(d)
a)Gross
profit ratio b)debtors
collection period
c)current
ratio d)debt-equity
ratio
20)Which
of the following is useful to see if fixed assets are used efficiently in the
business(d)
a)Gross
profit ratio b)debtors
collection period
c)current
ratio d)asset turnover ratio
21)Which
of the following measures company's Current liabilities(a)
a)Acid test ratio b)current ratio
c)debtor
collection period d)stock turnover ratio
22)A
company's return on investment indicates its(c)
a)solvency b)stock turnover
c)profitability
d)debtor collection
23)Inter-Firm
comparison is useful only when(a)
a)Two firms belong to the same industry
b)The
data belongs to the same period of the study
c)There
is increase or decrease in variables of study
d)two
firms belongs to the same industry and the data is available for the same
period of study
24)Higher
asset turnover ratio explains(b)
a)more
profitability b)better
utilisation of assets
c)higher
sales turnover d)large asset base
25)If
average collection period is more,it means(b)
a)better
collection of receivables
b)poor collection of receivables
c)average
collection of receivables
d)satisfactory
collection of receivables
26)Ownership,
Management & Control are all in one hand in ______type of business
organization
A)Sole Trader B)Departmental
Undertaking C) Partnership D)Joint Stock Company
27)The
written agreement among partners is
A)Trading
Deed B)Partnership
Deed C) Demand Draft D)Bills of Exchange
28)Working
Partner is also called as
A)Nominal
Partner B)Minor Partner C) Sleeping Partner D)Active Partner
29)To start a partnership firm a minimum of
____ and Maximum of ______ is required to carry on non-banking business.
A)2-10 B)7& unlimited C)2-50 D)2-20
30)Indian
Companies Act was enacted in
A)1956 B)1936 C)1947 D)1950
31)The
portion of capital which is invested in acquiring long term assets is called
A) Work – in- Capital B) Working
Capital C) Fixed Capital D) None
32)The
capital used to meet regular needs of the business is
A)Paid
Capital B)Working Capital C)Fixed Capital; D)Cost of Capital
33)Which
of the following is not a current asset?
A)Cash B)Creditors C)Prepaid Expenses D)Stock
34)Current
liabilities include all these except
A)Creditors B)Short term bank loan C)Bills Payables D)Prepaid Expenses
35)The aggregate
of funds used in the short-run
and long-run is called______________.
A) Profit B) cash
c) capital D) titles
36)The
circulating capital is also
called________.
A)
Fixed capital B) Working capital c)
tangible fixed capital D) none
37)
Capital creates and enhances the level of____________.
A)
capital gains B) wealth management
C) employment opportunities D) current expenses
38) Which of the following is a current
liability?
A) Accruals B) bills receivable C) bills payable D) rent received.
39) The flow of money in the business is
called__________.
A)
Capital formation B) cost cycle C) working capital cycle D) capital cycle.
40)
Which of the following indicate the true nature of capital budgeting decisions?
A) Reversible B) common c) uncommon D)
Irreversible
41)
If the ____________is more than the cost of capital, the project is profitable.
A)
ARR B) payback period C)IRR
D)Working capital
42)
The _____________the IRR, the better is profitability.
A)
Lower B) Least C) Bigger D) Higher
43)
Select always project with_________________
A)
Lower NPV B) Negative NPV C) Zero NPV D) Higher NPV
44)
IF NPV _______________then the project earns less than the discount rate.
A)>1 B) =1 C) <1 D)=0
MEFE CSE IV SEM 2ND MID QUESTION PAPER
1) Define
Partnership? Explain its features in detail.
2)
Journalize
the following transactions in the books of Madhu 2010.
January 1.Madhu
commenced business with Rs.15000/-
Jan 2.Paid into bank
Rs.10000/-
Jan3.Purchased goods
from Suresh for Rs.2000/-
Jan4.Return goods to
‘Suresh’ Rs.200/-
Jan 6 Paid to Suresh
A/c Rs.17000/-.
Jan 12. Received
interest from the bank Rs.750-/
Jan16. Sold goods
for cash Rs.7000/-
Jan 17. Sold goods
of Satish for Rs.4000/-
Jan 19. Paid
salaries Rs.800/-
Jan 21. Received
cash from Ajay Rs.500/-
3)
Explain
about GAAP
4)
Define
perfect competetion ? How to price determination under perfect competition ?
MEFA
CSE IV SEM 2ND MID
OBJECTIVE
1)
The Closure of Partnership is called
(
)
a)Resolution b)Revolution
c)solution d)dissolution
2)
Who of the following is not eligible to become a partner in a firm (
)
a)active b)nominal
c)sleeping d)minor
3)
The minimum paid up capital in a public company is (
)
a)Rs.2lakhs and higher b)Rs.10lakhs and higher
c)Rs.24lakhs and higher d)Rs.5lakhs and higher
4)
means
(
)
a)Controller&auditing General b)Controller&Auditor General
c)Comptroller&Auditing General
d)Comptroller&Auditor General
5)
SLR stands for
( )
a)Standard Lending rate b)Statutory lending Ratio
c)Statutory Liquidity ratio
d)Statutory rate
6) The Indian Partnership Act was enacted in ( )
a)1932 b)1942
c)1952 d)1962
7)
Purchases book records
(
)
a)cash purchases b)credit purchases
c)goods bought d)goods
8)
when the owner brings in capital of Rs.5000.
( )
a)Both assets and Liability
increases
b)asset increases but liability
decreases
c)liability increases but asset
increases
d)Both assets and liability decreases
9
) The rent paid in cash to landlord is credited to
( )
a)landlord account b)business account
c)cash account d)rent account
10)
Rent paid in advance is
( )
a)real account b)personal account
c)nominal account d)None of the Above
11)
According to Robert N.Anthony,which of the following is concerned with
accounting information that is useful to management
( )
a)cost accounting
b)management accounting
c) financial accounting d)marginal
costing
12) management accounting starts where___ends
( )
a)cost accounting b)standard accounting
c)financial accounting d)accounting
concepts and conventions
13) the trading and profit & loss Account is
also called ( )
a)account statement b)income statement
c)balance statement d)cost statement
14) final account comprises
( )
a)Ledger,trial balance b)trading,profit accounts
c)Profit and loss accounts
d)trading,profit & loss accounts
15)
The difference between assets and liabilities is called ( )
a)Overdraft b)Capital
c)Net purchases d)Sales
16)
Which would a business be most likely to use its solvency ( )
a)Gross profit ratio b)debtors collection period
c)current ratio d)debt-equity ratio
17)
Higher asset turnover ratio explains
( )
a)more profitability b)better utilisation of assets
c)higher sales turnover d)large
asset base
18)
If average collection period is more,it means
( )
a)better collection of
receivables
b)poor collection of receivables
c)average collection of
receivables
d)satisfactory collection of
receivables
19)
Ownership, Management & Control are all in one hand in ______type of
business organization ( )
A) Sole Trader B)
Departmental Undertaking C) Partnership D)Joint Stock Company
20)
The written agreement among partners is ( )
A) Trading
Deed B)Partnership Deed C) Demand Draft D)Bills of Exchange
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