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MCQs: To get to labour efficiency variance, the formula to be applied is
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MCQs: Which of the following statements are true about labour idle time?
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MCQs: Given standard time per unit is 80 hours, standard time per hour @ Rs 1 per hour, actual time per unit is 90 hours and actual rate per hour @ Rs 1.10 per hour. Determine labour cost variance, labour rate variance and labour efficiency variance.
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MCQs: Responsibility accounting is not useful in following the principle of management by exception.
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MCQs: _________ indicates the variances and the reasons behind such variances.
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MCQs: Management accounting deals with
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MCQs: Which of the following is true about financial statements?
A) Financial statement gives a summary of accounts.
B) Financial statements can be stated as recorded facts.
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MCQs: The statement of financial position and the balance sheet are synonyms.
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MCQs: Schedules attached with the balance sheet forms a part of the financial statements.
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MCQs: A bond is said to be issued at premium when
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MCQs: Value of a bond just depends on the interest payment it offers.
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MCQs: Debtors Turnover ratio is also known as
A) Receivables turnover ratio
B) Debtors velocity
C) Stock velocity
D) Payable turnover ratio
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MCQs: Determine Debtors turnover ratio if, closing debtors is Rs 40,000, Cash sales is 25% of credit sales and excess of closing debtors over opening debtors is Rs 20,000.
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MCQs: Working capital turnover ratio can be determined by:
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MCQs: Determine Working capital turnover ratio if, Current assets is Rs 1,50,000, current liabilities is Rs 1,00,000 and Cost of goods sold is Rs 3,00,000.
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MCQs: The Balance sheet of Ram at end of 2013 and 2014 disclose investments in shares of Rs 2000 and Rs 3000, respectively. Rs 100 as pre-acquisition dividend has been credited to investments account. Determine purchase of investments.
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MCQs: The balance of fixed assets of Y Ltd. at cost at the end of 2013 and 2014 were Rs 5,70,800 and Rs 6,15,300. During the year 2014 a machinery costing Rs 60,000 was sold. Determine the purchase of fixed assets.
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MCQs: As per AS-3, Cash Flow Statement is mandatory for
A) All enterprises
B) Companies listed on a stock exchange
C) Companies with a turnover of more than Rs 50 crores
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MCQs: Listed Enterprises need to prepare Cash Flow Statement only under indirect method.
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MCQs: In the case of financial enterprises, the cash flow resulting from interest and dividend received and interest paid should be classified as cash flow from
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