Description : Which statement is true? 1) The balance of payments depends on the principle of double-entry accounting. 2) Decrease in assets and increase in liabilities of net worth represent credits or sources of funds. 3) The balance of ... period of time. A. Only 1 B. Only 2 C. Only 3 D. 1, 2 and 3
Last Answer : D. 1, 2 and 3
Description : Which of the following does the term Corporate Social Responsibility relate to? A. Environmental practice B. Ethical conduct C. Human rights and employee relations D. Community investment E. All of the above F. None of the above
Last Answer : E. All of the above
Description : The first of the major environmental protection act to be promulgated in India was: A. Water Act B. Air Act C. Environmental Act D. Noise Pollution Rule
Last Answer : A. Water Act
Description : The provisions of environmental protection in the constitution were made under: A. Article 5-A B. Article 21-B C. Article 27-B (h) D. Article 48-A and Article 51-A (g)
Last Answer : D. Article 48-A and Article 51-A (g)
Description : The Environmental (Protection) Act was enacted in the year: A. 1986 B. 1992 C. 1984 D. 1974
Last Answer : A. 1986
Description : The management of natural resources should take into A. A long term perspective B. Environmental pollution C. Their equitable distribution D. All of the above and safe disposal of wastes
Last Answer : D. All of the above and safe disposal of wastes
Description : While preparing sales budget, which of the following factors are considered? A. Non-operational factors B. Environmental factors C. Both a and b D. None of the above
Last Answer : B. Environmental factors
Description : Examples of environmental stressors are A. Weather B. Traffic C. Financial problems D. Substandard housing E. Only ‘A’, ‘B’ & ‘D’ are right
Last Answer : E. Only ‘A’, ‘B’ & ‘D’ are right
Description : The term "marketing mix" describes: A. A composite analysis of all environmental factors inside and outside the fir B. A series of business decisions that aid in selling a product ... strengths and its business weaknesses D. A blending of four strategic elements to satisfy specific target markets
Last Answer : D. A blending of four strategic elements to satisfy specific target markets
Description : The process of collecting information about the external marketing environment is A. Environmental management B. Environmental scanning C. Marketing management D. Marketing research
Last Answer : B
Description : Under the historic adjustable pegged exchange-rate system, member countries were permitted to correct persistent and sizable payment deficits (i.e., fundamental disequilibrium) by: A. Officially ... depreciate in the free market D. Allowing their currencies to appreciate in the free market
Last Answer : B. Officially devaluing their currencies
Description : What is a systematic evaluation of a company's activities in a given area of social interest such as environmental protection, workplace safety or community involvement, called ? (A) Social responsibility (B) Social accounting (C) Social audit (D) Social forecasting
Last Answer : Answer: Social audit
Description : GDP is the money value of final goods and serviced produced in the………….of a country during an accounting year A. Domestic territory B. Political territory C. Specific area D. FTZ area
Last Answer : A. Domestic territory
Description : In responsibility cost accounting the costs in focus are A. Controllable costs B. Uncontrollable costs C. Both a and b D. None of the above
Last Answer : A. Controllable costs
Description : Which of the following statements are true about responsibility accounting? A. Responsibility accounting results in inter-departmental conflicts B. In responsibility center more focus is paid on products, processes or jobs C. No focus is paid on controlling costs D. None of the above
Last Answer : A. Responsibility accounting results in inter-departmental conflicts
Description : When the concept of ratio is defined in respected to the items shown in the financial statements, it is termed as A. Accounting ratio B. Financial ratio C. Costing ratio D. None of the above
Last Answer : A. Accounting ratio
Description : As per Accounting Standard-3, Cash Flow is classified into A. Operating activities and investing activities B. Investing activities and financing activities C. Operating activities and financing activities D. Operating activities, financing activities and investing activities
Last Answer : D. Operating activities, financing activities and investing activities
Description : Cash Flow Statement is based upon A. Cash basis of accounting B. Accrual basis of accounting C. Credit basis of accounting D. None of the above
Last Answer : A. Cash basis of accounting
Description : Cash Flow Statement is also known as A. Statement of Changes in Financial Position on Cash basis B. Statement accounting for variation in cash C. Both a and b D. None of the above
Last Answer : C. Both a and b
Description : Cost accounting mainly helps the management in: A. Earning extra profits B. Providing information to the management for decision-making. C. Fixing process of the products. D. Selling products
Last Answer : B. Providing information to the management for decision-making.
Description : Management accounting provides invaluable services to management in performing: A. All management functions B. Coordination functions C. Controlling functions D. Directing function
Last Answer : A. All management functions
Description : Management accounting involves A. Preparation of financial statements B. Analysis and interpretation of data C. Recording of transactions D. None of the above
Last Answer : B. Analysis and interpretation of data
Description : The basic function of management accounting is to: A. record all business transactions B. interpret the financial data C. assist the management in performing its functions effectively D. None of the above
Last Answer : C. assist the management in performing its functions effectively
Description : The prime function of accounting is to: A. record economic data B. provide the informational basis for action C. classify and record business transactions D. attain non-economic goals.
Last Answer : B. provide the informational basis for action
Description : Management accounting deals with A. Quantitative information B. Qualitative information C. Both a and b D. None of the above
Description : Who coined the concept of management accounting? A. R.N Anthony B. James H. Bliss C. J. Batty D. American Accounting Association
Last Answer : B. James H. Bliss
Description : Management accountancy is a structure for A. Costing B. Accounting C. Decision maki
Last Answer : C. Decision maki
Description : Management accounting is related with (i) The problem of choice making (ii) Recording of transactions (iii) Cause and effect relationships A. (i) and (ii) B. (ii) and (iii) C. (i) and (iii) D. All are false
Last Answer : C. (i) and (iii)
Description : Which of the following are tools of management accounting? (i) Decision accounting (ii) Standard costing (iii) Budgetary control (iv) Human Resources Accounting A. (i), (ii) and (iii) B. (i), (iii) and (iv) C. (i),(ii) and (iii) D. (i), (ii), (iii), (iv)
Last Answer : C. (i),(ii) and (iii)
Description : Management accounting assists the management A. Only in control B. Only in direction C. Only in planning D. In planning, direction and control
Last Answer : D. In planning, direction and contro
Description : Which of the following is true about management accounting? (i) Management accounting is associated with presentation of accounting data. (ii) Management accounting is extremely sensitive to investors needs. A. Only (i) B. Only (ii) C. Both (i) and (ii) D. None of the above
Last Answer : A. Only (i)
Description : The management accounting can be stated an extension of (i) Cost Accounting (ii) Financial Accounting (iii) Responsibility Accounting A. Both (i) and (ii) B. Both (i) and (iii) C. Both (ii) and (iii) D. (i), (ii), (iii)
Last Answer : D. (i), (ii), (iii)
Description : The use of management accounting is A. Optional B. Compulsory C. Legally obligatory D. Compulsory to some and optional to others
Last Answer : A. Optional
Description : Management accounting is (i) Subjective (ii) Objective A. Only (i) B. Only (ii) C. Both (i) and (ii) D. None of the above
Description : The term management accounting was first coined in A. 1960 B. 1950 C. 1945 D. 1955
Last Answer : B. 1950
Description : ________ Accounting becomes a source of information for Management Accounting. A. Financial B. Cost C. Both (A) and (B) D. None of the above
Last Answer : A. Financial
Description : The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personal B. Integrity to society. C. Change ... standards by which corporate professionals must operate. E. Increase the workload for accounting students
Last Answer : C. Change the way in which ethics is taught to students.
Description : The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personal Integrity to society. B. Change ... standards by which corporate professionals must operate. D. Increase the workload for accounting students.
Last Answer : C. Create more ethics standards by which corporate professionals must operate.
Description : The delivery of goods by one person to another for some purpose, upon a contract and that they shall, when the purpose is accomplished, be returned or otherwise disposed of by accounting to the ... then it is called: A. Contingent contract B. Bailment C. Pledge D. Contract of indemnity
Last Answer : B. Bailment
Description : Under a pegged exchange-rate system, which does not explain why a country would have a balance-of payments deficit? A. Very high rates of inflation occur domestically B. Foreigners ... . Technological advance is superior abroad D. The domestic currency is undervalued relative to other currencies
Last Answer : The domestic currency is undervalued relative to other currencies
Description : Presentation is required for A. Acceptance B. Sight C. Payment D. Any of the above three purposes
Last Answer : D. Any of the above three purposes
Description : Crossing of a cheque effect the A. Negotiability of the cheque B. Mode of payment on the cheque C. Both (a) and (b) D. None of the above
Last Answer : C. Both (a) and (b)
Description : To whom of the following, payment of the amount due on a promissory note, bill of exchange or cheque must be made in order to discharge the maker or acceptor A. Holder of the instrument B. Indorser of the instrument C. Indorsee of the instrument D. None of the above.
Last Answer : A. Holder of the instrument
Description : In determining reasonable time for the purpose of payment of a negotiable instrument A. Public holidays are included B. Public holidays are excluded C. Only the holidays observed by the banks are excluded D. None of the above.
Last Answer : B. Public holidays are excluded
Description : The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the ... the instrument C. The bargaining between the parties to a negotiable instrument D. All of the above
Last Answer : A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof
Description : Deepak, Ashwani and Tarun jointly promised to pay ` 90,000 to Pradeep. Deepak was compelled by Pradeep to pay the entire amount of ` 90,000. Here: A. Deepak can file a suit against Pradeep for ... to Deepak. D. Pradeep is not justified here and is liable to refund the entire amount to Deepak.
Last Answer : B. Deepak is entitled to recover ` 30,000 each from Ashwani and Tarun
Description : The Bailment of goods as security for payment of a debt or performance of a promise is called: A. Pledge B. Bailment C. Contingent contract D. Agreement
Last Answer : A. Pledge