ONLINE EXAMINATION MBA III SEM. SESSION - 2020 Subject - FM - 1
All Students solve 20 MCQ with 80 points. Each question is a multiple-choice question with four answer choices. Read each question and answer choice carefully and choose the ONE best answer
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1. The type or branch of accounting that generates reports for the use of external parties such as creditors, investors and government agencies is known as:
4 points
Clear selection
2. The branch of accounting that generates reports and information for the use of internal management is known as:
4 points
Clear selection
3. Which one of the following is not an external user of accounting information?
4 points
Clear selection
4. Which of the following is correct?
4 points
Clear selection
5. Which of the following is correct about double entry system of accounting?
4 points
Clear selection
6. T-account, the balance is equal to:
4 points
Clear selection
7. Which one of the following is not a real account?
4 points
Clear selection
8. Which one of the following is not a nominal account?
4 points
Clear selection
9. Which of the following normally have a debit balance?
4 points
Clear selection
10.Statements prepared to know profit or loss and financial position of the business are called:
4 points
Clear selection
11.• Account which shows Gross Profit or Gross Loss of the business is called:
4 points
Clear selection
12. On debit side of trading Account we record:
4 points
Clear selection
13. Which are indirect expense of the followings?
4 points
Clear selection
14. Liquid assets is determined by
4 points
Clear selection
15. The ideal level of liquid ratio is
4 points
Clear selection
16. Higher the ratio, the more favorable it is, doesn’t stand true for
4 points
Clear selection
17. Liquid ratio is also known as a) Quick ratio b) Acid test ratio c) Working capital ratio d) Stock turnover ratio
4 points
Clear selection
18. _________ is stated as a budget which is made to change as per the levels of activity attained.
4 points
Clear selection
19.The process of budgeting helps in the control of
4 points
Clear selection
20. The process of budgeting includes
4 points
Clear selection
21. The term contribution refers to…
4 points
Clear selection
22. Contribution/sales is equal to…
4 points
Clear selection
23. The profit at which total revenue is equal to total cost is called…
4 points
Clear selection
24. ________ is the excess of sales over the break even sales.
4 points
Clear selection
25.When an asset increases, its account is:
4 points
Clear selection
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