is root cause for financial accounting  
(a) Stewardship accounting  
(b) Social accounting  
(c) Management accounting  
(d) Human resource accounting

1 Answer

Answer :

(a) Stewardship accounting

Related questions

Description : Double entry system is used in which type of accounting a) Cost b)Financial c) Management d) All

Last Answer : b)Financial

Description : Which one of the following branches of accounting primarily deals with processing and presenting of accounting data for internal use? A. Financial accounting B. Tax accounting C. Management accounting D. Inflation accounting

Last Answer : C. Management accounting

Description : The nature of financial accounting is: a) Historical b) Forward looking c) Analytical d) Social

Last Answer : a) Historical

Description : Financial accounting is concerned with – a) Recording of business expenses and revenue b) Recording of costs of products and services c) Recording of day to day business transactions d) None of the above

Last Answer : c) Recording of day to day business transactions

Description : Which of the following is not the main objective of accounting? A] Systematic recording of transactions B] Ascertaining profit or loss C] Ascertainment of financial position D] Solving tax disputes with tax authorities

Last Answer : D] Solving tax disputes with tax authorities

Description : If nothing is given in the financial statements aboutthe three accounting assumptions then it is to be treated as it a) Is assumed that it is not followed b) Is assumed to be followed c) Is assumed to be followed to some extent d) None of the above

Last Answer : b) Is assumed to be followed

Description : The direct advantages of accounting do not include A. Preparation of financial statements B. Comparison of results C. Competitive advantage D. Information to interested groups

Last Answer : C. Competitive advantage

Description : An independent audit is important to readers of financial statements because it a. Provides a measure of management's stewardship function b. Objectively examines and reports on management' ... the financial statements d. Measures and communicates the financial data included in financial statements

Last Answer : Objectively examines and reports on management's financial statements

Description : What is the theory of social responsibility that focuses on how companies respond to issues, rather than trying to determine their ultimate social responsibility, called ? (A) Corporate social performance (B) Corporate social responsiveness (C) Stewardship principle (D) Enlightened self-interest

Last Answer : Answer: Corporate social performance

Description : Valuation of stock in accounting follows the principle of cost price or ____ which ever is lower. a) Market Price b) Average Price c) Net realizable Value d) None of these.

Last Answer : c) Net realizable Value

Description : If nothing is written about the accounting assumption to be followed it is presumed that a) They have been followed b) They have not been followed c) They are followed to some extent d) none of these

Last Answer : b) They have not been followed

Description : Which of the following factor is not considered while selecting accounting policies? a) Prudence b) Substance over form c) Accountancy d) Materiality

Last Answer : c) Accountancy

Description : Consistency with reference to application of accounting procedures means a) All companies in the same Industry should use identical accounting procedures b) Income & assets have not been overstated c ... uniform basis year after year d) Any accounting method can be followed as per convenience

Last Answer : c)Accounting methods & procedures shall be followed uniform basis year after year

Description : Which accounting concept specifies thepractice of crediting closing stock to the trading account? a) Cost b) Realisation c) Going concern d)Matching

Last Answer : d)Matching

Description : In which of the following cases, accounting estimates are needed? a) Employs benefit schemes b) Impairment of losses c) Inventory obsolescence d) All of the above

Last Answer : d) All of the above

Description : Which accounting concept satisfy the valuation criteria a] Going concern, Realisation, Cost b) Going concern, Cost, Dual aspect c) Cost, Dual aspect, Conservatism d) Realisation, Conservatism, Going concern.

Last Answer : a] Going concern, Realisation, Cost

Description : The fundamental accounting equation' Assets = Liabilities + Capital' is the formal expression of A. Dual aspect concept B. Matching concept C. Going concern concept D. Money measurement concept

Last Answer : A. Dual aspect concept

Description : Which of the following assets are dealt with by AS - 10 (Accounting Standard on Fixed Assets)? A. Land, building, plant and machinery, vehicles, furniture and fittings B. Goodwill and patents C. Trademarks and designs D. All of the above

Last Answer : D. All of the above

Description : AS -10 (Accounting Standard on Fixed Assets) does not deal with accounting for the following items to which special considerations apply A. Forests, plantations and similar regenerative natural ... resources C. Expenditure on real estate development and livestock D. None of the above

Last Answer : D. None of the above

Description : Which of the following accounting equation is correct? A. Capital + Liabilities= Assets B. Capital = Assets + Liabilities C. Capital- Liabilities = Assets D. Capital + Assets = Liabilities

Last Answer : A. Capital + Liabilities= Assets

Description : Which of the following statement is correct? A. Fixed assets must always be shown at market value B. Book-keeping and accounting are different terms C. Owner's Equity = Assets + Liabilities D. Patents is an example of current asset

Last Answer : A. Fixed assets must always be shown at market value

Description : Discounted cash flow criteria for investment appraisal does not include A. Not present value B. Benefit cost ratio C. Accounting rate of return D. Internal rate of return

Last Answer : B. Benefit cost ratio

Description : If the two companies have different accounting policies in respect of the same item, then they make necessary changes to adopt.............. Accounting policies. (A)Lifo method (B)Fifo method (C)Weighted method (D)Uniform

Last Answer : (D)Uniform

Description : The personnel who deals with the computer and its management put together are called a. Software b. Human ware c. Firmware d. Hardware

Last Answer : b. Human ware

Description : The personnel who deals with the computer and its management put together are called a. Software b. Human ware c. Firmware d. Hardware

Last Answer : b. Human ware

Description : "Focus on social environment" is related to ? A. Unity of command B. Human Relations C. Unity of Direction D. All of the above

Last Answer : B. Human Relations

Description : Which is not a function of ERP? a. Human resource management b. financial c. warehousing d. None of the above

Last Answer : d. None of the above

Description : The comparison of financial statement of one year with that of another is possible only when ----------------concept is followed A] Going concern B] Accrual C] Consistency D] Materiality

Last Answer : C] Consistency

Description : Interpretation means (a) Explanation of meaning and significance of the data in Financial Statements. (b) Concerned with preparation and presentation of classified data (c) Systematic analysis of recorded data (d) Methodical classification of data given in Financial Statements

Last Answer : (a) Explanation of meaning and significance of the data in Financial Statements.

Description : The process of recording financial data upto trial balance is a) Book keeping b) Classifying c) Summarising d) Analyzing

Last Answer : a) Book keeping

Description : In case of a limited company, the term financial statements includes A. Profit and loss and balance sheet B. Profit and loss account, profit and loss appropriation account and balance sheet C. Balance sheet D. None of the above

Last Answer : B. Profit and loss account, profit and loss appropriation account and balance sheet C

Description : A company pays dividend at the A. End of the week B. End of the financial year C. End of the month D. All of the above

Last Answer : B. End of the financial year

Description : What are the factors that contribute to the Business Success? A. marketing resources B. physical assets C. financial factors D. all of the above

Last Answer : D. all of the above

Description : A technique used by codes to convert an analog signal into a digital bit stream is known as a. Pulse code modulation b. Pulse stretcher c. Query processing d. Queue management

Last Answer : a. Pulse code modulation

Description : A technique used by codes to convert an analog signal into a digital bit stream is known as a. Pulse code modulation b. Pulse stretcher c. Query processing d. Queue management

Last Answer : a. Pulse code modulation

Description : A method of implementing a memory management system is a. Buddy system b. Bridgeware c. Broadband coaxial system d. All of the above

Last Answer : a. Buddy system

Description : Any method for controlling access to or use of memory is known a. Memory map b. Memory protection c. Memory management d. Memory instruction

Last Answer : b. Memory protection

Description : Which act gave the Government enormous control over the management? A. Company's act B. Industrial act C. M.R.T.P. Act D. Both (A) and (B)

Last Answer : D. Both (A) and (B)

Description : Assertion (A). Private location process leads to change in management with change in ownership. Reason (R). Change in management is not a necessary condition for the process of privatisation. A. Both (A) and (R) are ... C. (A) is incorrect but (R) is correct. D. Both (A) and (R) are incorrect.

Last Answer : B. (A) is correct but (R) is incorrect.

Description : Arrange the following Acts in the order in which they came into force. (i) The Monopolies Restrictive Trade Practices Act (ii) Indian Contract Act (iii) The Sale of Goods Act (iv) The Foreign Exchange Management Act A. (il), (iii), (i ... (ii) C. (i), (ii), (iii), (iv) D. (iv), (iii), (ii), (i)

Last Answer : B. (iii), (i), (iv) and (ii)

Description : FEMA signifies A. Free Export management act B. Foreign Exchange management act C. Foreign Exchange monitoring act D. Free Export marketing act

Last Answer : B. Foreign Exchange management act

Description : Why the public sector took over a number of sick units from the private sector? A. due to the social obligations of protecting employment B. due to low manufacturing C. due to the deficiency of managerial planning D. none of these

Last Answer : A. due to the social obligations of protecting employment

Description : Choose the correct statement: A. the public sector would play useful in augmenting basic resources of country like land, forest, water B. the public sector will have responsibility for meeting social need C. public sector would not playa useful role in population controls D. only (A) and (B

Last Answer : D. only (A) and (B

Description : Match the following components of Business Environment. (a) Economic Environment (i) Exim Policy (b) Social Environment (ii) Customs (c) Political Environment (iii) Social values (d) Legal Environment (iv) Business Law and Banking Act (a) ... (ii) (iv) (a) (b) (c) (d) D. (i) (ii) (iv) (iii)

Last Answer : (i) (ii) (iii) (iv) (a) (b) (c) (d)

Description : Why would using small amounts of water be good stewardship of God's creation?

Last Answer : If we use to much water, then we would have the water bottles polluted.

Description : Why would not bothering nests be good stewardship of God's creation?

Last Answer : umm

Description : Why would hunting and fishing within the law be good stewardship of God's creation?

Last Answer : Hunting inside the law is stewardship to God's creation because it would not disturb the balance of nature by hunting and fishing inside the law, which has a limit of how much you can take.

Description : Similarities between cost, financial and management accounting?

Last Answer : A chart of accounts provides a listing

Description : Explain the difference between financial accounting and management accounting?

Last Answer : Management accounting is a tool that managers use to perform day-to-day operations in an organization. This type of accounting usually does not provide exact numbers, but rather estimate ... status of the organization to its external stakeholders. This type of accounting provides accurate numbers.