Depletion method of depreciation is used in case of– (A) Cattle, Loose Tools, etc. (B) Mines, Quarries, etc. (C) Machinery, Building, etc. (D) Books

Depletion method of depreciation is used in case of– (A) Cattle, Loose Tools, etc. (B) Mines, Quarries, etc. (C) Machinery, Building, etc. (D) Books  
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Answer: Mines, Quarries, etc.
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A limited company makes a net profit of Rs. 2,00,000 after writing off preliminary expenses amounting to Rs. 20,000 and providing for depreciation on assets amounting to Rs. 40,000 and gain of Rs. 10,000 on sale of a piece of machinery. What are the funds from operation ? (A) Rs. 2,00,000 (B) Rs. 2,40,000 (C) Rs. 2,50,000 (D) Rs. 2,60,000

Description : A limited company makes a net profit of Rs. 2,00,000 after writing off preliminary expenses amounting to Rs. 20,000 and providing for depreciation on assets amounting to Rs. 40,000 and gain of Rs. 10,000 on sale of a piece of ... 2,00,000 (B) Rs. 2,40,000 (C) Rs. 2,50,000 (D) Rs. 2,60,000

Last Answer : Answer: Rs. 2,50,000

Alfa Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was-building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, 10% debentures of Rs. 100 each at par and 15,000 equity shares of Rs. 10 each. How much was the flow of funds in the above transaction ? (A) Rs. 2,30,000 (B) Rs. 1,00,000 (C) Rs. 50,000 (D) Rs. 30,000

Description : Alfa Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was-building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, ... ) Rs. 2,30,000 (B) Rs. 1,00,000 (C) Rs. 50,000 (D) Rs. 30,000

Last Answer : Answer: Rs. 30,000

The assets which is not taken under the net assets method of calculating Purchase Consideration is: (A) Loose Tools (B) Bills Receivable (C) Machinery (D) Share issued expenses

Description : The assets which is not taken under the net assets method of calculating Purchase Consideration is: (A) Loose Tools (B) Bills Receivable (C) Machinery (D) Share issued expenses

Last Answer : (D) Share issued expenses

Fill in the blanks with the appropriate option. _________ coal mines are in the vicinity, and there are manufactures of iron and steel, mill machinery, door and sash factories, etc., as well as several shipbuilding yards. (a) Intensive (b) Extensive (c) Substantial (d) Wideranging

Description : Fill in the blanks with the appropriate option. _________ coal mines are in the vicinity, and there are manufactures of iron and steel, mill machinery, door and sash factories, etc., as well as several shipbuilding yards. (a) Intensive (b) Extensive (c) Substantial (d) Wideranging 

Last Answer : Ans: b) Extensive 

R. G. Ltd. purchased machinery from K.G. Company for a book value of Rs. 4,00,000. The consideration was paid by issue of 10%. Debenture of Rs. 100 each at a discount of 20%. The debenture account will be credited by– (A) Rs. 4,00,000 (B) Rs. 5,00,000 (C) Rs. 3,20,000 (D) Rs. 4,80,000

Description : R. G. Ltd. purchased machinery from K.G. Company for a book value of Rs. 4,00,000. The consideration was paid by issue of 10%. Debenture of Rs. 100 each at a discount of 20%. The debenture account will be credited by– (A) Rs. 4,00,000 (B) Rs. 5,00,000 (C) Rs. 3,20,000 (D) Rs. 4,80,000

Last Answer : Answer: Rs. 4,00,000

A machinery is purchased for Rs. 3,00,000 and Rs. 50,000 is spent on its installation. Rs. 5,000 is spent on fuel. What will be the amount of capital expenditure ? (A) Rs. 3,00,000 (B) Rs. 3,50,000 (C) Rs. 3,55,000 (D) None of these

Description : A machinery is purchased for Rs. 3,00,000 and Rs. 50,000 is spent on its installation. Rs. 5,000 is spent on fuel. What will be the amount of capital expenditure ? (A) Rs. 3,00,000 (B) Rs. 3,50,000 (C) Rs. 3,55,000 (D) None of these

Last Answer : Answer: Rs. 3,50,000

The loss on the sale of old furniture is debited to– (A) profit & loss account (B) furniture account (C) trading account (D) depreciation account

Description : The loss on the sale of old furniture is debited to– (A) profit & loss account (B) furniture account (C) trading account (D) depreciation account

Last Answer : Answer: profit & loss account

The following data, relates to manufacturing company for the year 2006-07– Net Profit as per P & L A/c–Rs. 2,40,000; Depreciation–Rs. 80,000; Goodwill written-off– Rs. 40,000, Profit on Sale of Fixed Assets–Rs. 16,000, Proposed Dividend–Rs. 96,000. The fund from operation would be– (A) Rs. 4,40,000 (B) Rs. 4,00,000 (C) Rs. 6,40,000 (D) None of the above

Description : The following data, relates to manufacturing company for the year 2006-07- Net Profit as per P & L A/c-Rs. 2,40,000; Depreciation-Rs. 80,000; Goodwill written-off- Rs. 40,000, Profit on Sale of Fixed Assets-Rs. 16,000, ... ) Rs. 4,40,000 (B) Rs. 4,00,000 (C) Rs. 6,40,000 (D) None of the above

Last Answer : Answer: None of the above

From the information given below, calculate Debt service coverage Ratio– Net profit after interest and Tax Rs. 40,000, Depreciation Rs. 5,000, Rate of Income Tax 50%, 10% Mortgage Debentures Rs. 60,000. Fixed Interest Charges Rs. 6,000, Debenture Redemption Fund Appropriation of Outstanding Debentures 10%. (A) 4•06 times (B) 5•06 times (C) 6•06 times (D) 7•06 times

Description : From the information given below, calculate Debt service coverage Ratio- Net profit after interest and Tax Rs. 40,000, Depreciation Rs. 5,000, Rate of Income Tax 50%, 10% Mortgage Debentures Rs. 60,000. Fixed Interest Charges Rs. 6 ... . (A) 4 06 times (B) 5 06 times (C) 6 06 times (D) 7 06 times

Last Answer : Answer: 4•06 times

What are Capital goods? a) Goods used for consumption in the production process b) Goods such as tools, machinery, etc which are used to create final consumer goods c) Goods and services that are consumed fully when purchased by the consumers d) None of the above

Description : What are Capital goods? a) Goods used for consumption in the production process b) Goods such as tools, machinery, etc which are used to create final consumer goods c) Goods and services that are consumed fully when purchased by the consumers d) None of the above

Last Answer : : b) Goods such as tools, machinery, etc which are used to create final consumer goods

What are consumption goods? a) Goods used for consumption in the production process b) Goods such as tools, machinery, etc which are used to create final consumption goods c) Goods and services that are consumed fully when purchased by the consumers d) None of the above

Description : What are consumption goods? a) Goods used for consumption in the production process b) Goods such as tools, machinery, etc which are used to create final consumption goods c) Goods and services that are consumed fully when purchased by the consumers d) None of the above

Last Answer : : c) Goods and services that are consumed fully when purchased by the consumers

Which of the following is not a type of manure collecting Method? A. use cattle shed B. Dry Earth System C. Loose box System

Description : Which of the following is not a type of manure collecting Method? A. use cattle shed B. Dry Earth System C. Loose box System

Last Answer : B. Dry Earth System

The balance appearing in the books of a company at the end of year were CRR A/c Rs. 50,000, Security Premium Rs. 5,000, Revaluation Reserve Rs. 20,000, P & L A/c (Dr) Rs. 10,000. Maximum amount available for distribution of Bonus Share will be– (A) Rs. 50,000 (B) Rs. 55,000 (C) Rs. 45,000 (D) Rs. 57,000

Description : The balance appearing in the books of a company at the end of year were CRR A/c Rs. 50,000, Security Premium Rs. 5,000, Revaluation Reserve Rs. 20,000, P & L A/c (Dr) Rs. 10,000. Maximum amount available for distribution of ... will be- (A) Rs. 50,000 (B) Rs. 55,000 (C) Rs. 45,000 (D) Rs. 57,000

Last Answer : Answer: Rs. 55,000

Depreciation is loss in value of _______. (1) Final goods (2) Machinery (3) Capital stock (4) Stock of inventory

Description : Depreciation is loss in value of _______. (1) Final goods (2) Machinery (3) Capital stock (4) Stock of inventory

Last Answer : (2) Machinery Explanation: The term depreciation represents loss or diminution in the value of an asset consequent upon wear and tear, obsolescence, effluxion of time or permanent fall in market value ... furniture, vehicles, plant etc. The wear and tear is general but primary cause of depreciation.

Which of the following is not a component of depreciation cost? (A) Repairs and maintenance cost (B) Loss due to obsolescence of the equipment (C) Loss due to decrease in the demand of product (D) Loss due to accident/breakdown in the machinery

Description : Which of the following is not a component of depreciation cost? (A) Repairs and maintenance cost (B) Loss due to obsolescence of the equipment (C) Loss due to decrease in the demand of product (D) Loss due to accident/breakdown in the machinery

Last Answer : (A) Repairs and maintenance cost

Pick out the wrong statement. (A) The annual depreciation rate for machinery and equipments in a chemical process plant is about 10% of the fixed capital investment (B) Annual depreciation rate of buildings in a chemical plant is about 3% of its initial cost (C) Insurance rates on annual basis in a chemical plant may be about 1% of the fixed capital investment (D) In a chemical industry, research and development cost amounts to about 15% of net sales realisation (NSR)

Description : Pick out the wrong statement. (A) The annual depreciation rate for machinery and equipments in a chemical process plant is about 10% of the fixed capital investment (B) Annual depreciation rate ... chemical industry, research and development cost amounts to about 15% of net sales realisation (NSR)

Last Answer : (D) In a chemical industry, research and development cost amounts to about 15% of net sales realisation (NSR)

. A Local Authority is preparing cash Budget for its refuse disposal department. Which of the following items would not be included in the cash budget? (a) Capital cost of a new collection vehicle (b) Depreciation of the machinery (c) Operatives wages (d) Fuel for the collection Vehicles

Description : . A Local Authority is preparing cash Budget for its refuse disposal department. Which of the  following items would not be included in the cash budget? (a) Capital cost of a new collection vehicle (b) Depreciation of the machinery (c) Operatives wages (d) Fuel for the collection

Last Answer : (b) Depreciation of the machinery

Adhu Ltd. owns machinery (rate of depreciation is 15%), the written down value of which as on 1st April 2017 is Rs.30 Lakh. Due to fire, entire assets in the block were destroyed and the insurer paid Rs.25 lakh. The eligible depreciation in respect of block : a) Rs.450000 b) Rs. 75000 c) Rs. 400000 d) Nil

Description : Adhu Ltd. owns machinery (rate of depreciation is 15%), the written down value of which as on 1st April 2017 is Rs.30 Lakh. Due to fire, entire assets in the block were destroyed and the insurer paid Rs.25 lakh ... depreciation in respect of block : a) Rs.450000 b) Rs. 75000 c) Rs. 400000 d) Nil

Last Answer : d) Nil

Under the Income Tax Act 1961, Depreciation on machinery is charged on : a) Purchase Price of the machinery b) Market Price of the Machine c) Written Down value d) A or B which is less

Description : Under the Income Tax Act 1961, Depreciation on machinery is charged on : a) Purchase Price of the machinery b) Market Price of the Machine c) Written Down value d) A or B which is less

Last Answer : c) Written Down value

Depreciation is loss in value of ________ (1) Final goods (2) Machinery (3) Capital stock (4) Stock of inventory

Description : Depreciation is loss in value of ________ (1) Final goods (2) Machinery (3) Capital stock (4) Stock of inventory

Last Answer : Machinery

Persons working in cement plants and limestone quarries are more prone to disease like (A) Cancer (B) Asthma (C) Silicosis (D) Fluorosis (bone disease)

Description : Persons working in cement plants and limestone quarries are more prone to disease like (A) Cancer (B) Asthma (C) Silicosis (D) Fluorosis (bone disease)

Last Answer : (C) Silicosis

The highly polished monolithic Ashokan Pillars were carved out of single pieces of a buff-coloured sandstone, usually mined from the quarries of?

Description : The highly polished monolithic Ashokan Pillars were carved out of single pieces of a buff-coloured sandstone, usually mined from the quarries of?

Last Answer : Chunar near Mirzapur

What is the quorum of general meetings in the case of private limited company and public limited company ? (A) 2 members and 5 members respectively (B) 3 members and 5 members respectively (C) 5 members in each type of company (D) 5 members and 7 members respectively

Description : What is the quorum of general meetings in the case of private limited company and public limited company ? (A) 2 members and 5 members respectively (B) 3 members and 5 members respectively (C) 5 members in each type of company (D) 5 members and 7 members respectively

Last Answer : Answer: 2 members and 5 members respectively

Garner Vs. Murray rule applies in case of– (A) Admission of a partner (B) Dissolution of a firm (C) Retirement of a partner (D) Death of a partner

Description : Garner Vs. Murray rule applies in case of– (A) Admission of a partner (B) Dissolution of a firm (C) Retirement of a partner (D) Death of a partner

Last Answer : Answer: Dissolution of a firm

In case of a company, “Buy Back” is related to– (A) Prospectus (B) Shares (C) Debentures (D) Cheques

Description : In case of a company, “Buy Back” is related to– (A) Prospectus (B) Shares (C) Debentures (D) Cheques

Last Answer : Answer: Shares

What is the quorum of General Meetings in the case of a Private Company ? (A) 2 members (B) 3 members (C) 4 members (D) 5 members

Description : What is the quorum of General Meetings in the case of a Private Company ? (A) 2 members (B) 3 members (C) 4 members (D) 5 members

Last Answer : Answer: 2 members

“Auditor is a watchdog and not a blood hound” was a remark made in the case of– (A) The London Oil Storage Co. Ltd. 1904 (B) Kingston Cotton Mills Ltd. 1896 (C) London and General Bank 1895 (D) Delightful Cigarette Co. Ltd. 1943

Description : “Auditor is a watchdog and not a blood hound” was a remark made in the case of– (A) The London Oil Storage Co. Ltd. 1904 (B) Kingston Cotton Mills Ltd. 1896 (C) London and General Bank 1895 (D) Delightful Cigarette Co. Ltd. 1943

Last Answer : Answer: Kingston Cotton Mills Ltd. 1896

‘Profit objective’ is of least priority in case of– (A) Private enterprise (B) Public enterprise (C) Department undertaking (D) Cooperative society

Description : ‘Profit objective’ is of least priority in case of– (A) Private enterprise (B) Public enterprise (C) Department undertaking (D) Cooperative society

Last Answer : Answer: Cooperative society

The product range is widest in case of– (A) Chain store (B) Departmental store (C) Speciality shop (D) One price shop

Description : The product range is widest in case of– (A) Chain store (B) Departmental store (C) Speciality shop (D) One price shop

Last Answer : Answer: Departmental store

At what price the stock is valued under conventional method ? (A) At cost price (B) At market price (C) At cost price or market price whichever is lower (D) At cost price or market price whichever is higher

Description : At what price the stock is valued under conventional method ? (A) At cost price (B) At market price (C) At cost price or market price whichever is lower (D) At cost price or market price whichever is higher

Last Answer : Answer: At cost price or market price whichever is lower

What are the raw material machinery tools and equipment required for the production Coffee shop?

Description : What are the raw material machinery tools and equipment required for the production Coffee shop?

Last Answer : Need answer

Linear actuators are used in________ A. Machine tools B. Industrial machinery C.both A and B D.None

Description : Linear actuators are used in________ A. Machine tools B. Industrial machinery C.both A and B D.None 

Last Answer : A. Machine tools 

What animals, indigenous to the Americas, could have been domesticated and put to work by the Native Americans, the way the Europeans domesticated horses and cattle, camels, etc.?

Description : What animals, indigenous to the Americas, could have been domesticated and put to work by the Native Americans, the way the Europeans domesticated horses and cattle, camels, etc.?

Last Answer : Bats. I wouldn’t screw with them if they had bats.

Who defined investment as "the construction of a new capital asset like machinery or factory building"? (1) Hansen (2) J.M. Keynes (3) Harrod (4) J.R. Hicks

Description : Who defined investment as "the construction of a new capital asset like machinery or factory building"? (1) Hansen (2) J.M. Keynes (3) Harrod (4) J.R. Hicks

Last Answer : (2) J.M. Keynes Explanation: Investment expenditure refers to the creation of new assets i.e. an addition to the stock of existing capital assets. According to Keynes investment demand depends upon ... the rate of interest (IR). Investment demand decreases with the increase in the rate of interest.

Which of the following is an example of an intangible asset ? 1. building 2. machinery 3. patent 4. cash 5. None of these

Description : Which of the following is an example of an intangible asset ? 1. building 2. machinery 3. patent 4. cash 5. None of these

Last Answer : patent

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

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

Who defined investment as “the construction of a new capital asset like machinery or factory building” ? (1) Hansen (2) J.M. Keynes (3) Harrod (4) J.R. Hicks

Description : Who defined investment as “the construction of a new capital asset like machinery or factory building” ? (1) Hansen (2) J.M. Keynes (3) Harrod (4) J.R. Hicks

Last Answer : J.M. Keynes

Following is not a fixed asset - (A) Goodwill (B) Loose Tools (C) Copyright (D) Livestock

Description : Following is not a fixed asset - (A) Goodwill (B) Loose Tools (C) Copyright (D) Livestock

Last Answer : B) Loose Tools

Which of the following is incorrect? a) Good will intangible asset b) Sundry debtors -current asset c) Loose tools tangible fixed asset d) Outstanding expenses -current asset.

Description : Which of the following is incorrect? a) Good will intangible asset b) Sundry debtors -current asset c) Loose tools tangible fixed asset d) Outstanding expenses -current asset.

Last Answer : d) Outstanding expenses -current asset.

There's a land where there's mummies and daddies but no babies. Books but no libraries. Mirrors but no reflections. Kittens but no cats. Cattle but no cows. Lollipops but no candy and trees but no forests. It's the land of what? -Riddles

Description : There's a land where there's mummies and daddies but no babies. Books but no libraries. Mirrors but no reflections. Kittens but no cats. Cattle but no cows. Lollipops but no candy and trees but no forests. It's the land of what? -Riddles

Last Answer : The land of double letters.

Rent, interest on fixed capital, depreciation of building, taxes and wages of the permanent labourers constitute

Description : Rent, interest on fixed capital, depreciation of building, taxes and wages of the permanent labourers constitute

Last Answer : Ans. Fixed Costs

R, an assessee carries on business in respect of which it holds tenancy rights. It carries out improvements to the said building at a cost of Rs. 2 lakhs and claims depreciation @ 10% thereon. Which one of the following is the correct answer? a) No depreciation will be available, on the grounds that the assessee is not the owner of the building b) Depreciation will be allowed of Rs.20 thousand c) Deduction will be allowed of Rs. 2 Lakh d) The amount of Rs.2.2 lakh will be capitalized

Description : R, an assessee carries on business in respect of which it holds tenancy rights. It carries out improvements to the said building at a cost of Rs. 2 lakhs and claims depreciation @ 10% thereon. Which one of ... Deduction will be allowed of Rs. 2 Lakh d) The amount of Rs.2.2 lakh will be capitalized

Last Answer : b) Depreciation will be allowed of Rs.20 thousand

The divisional supdt may sanction up to Rs____ in each case for embedding to cash/mail chests, purchase of technical books/maps, painting of letter boxes, sign boards, notice boards etc. a) 400/- b) 1500/- c) 5000/- d) 2500/

Description : The divisional supdt may sanction up to Rs____ in each case for embedding to cash/mail chests, purchase of technical books/maps, painting of letter boxes, sign boards, notice boards etc. a) 400/- b) 1500/- c) 5000/- d) 2500/

Last Answer : a) 400/

Is it obvious or not obvious why some stores charge customers (annual for eg.) a fee in order to sell them their products?

Description : Is it obvious or not obvious why some stores charge customers (annual for eg.) a fee in order to sell them their products?

Last Answer : I worked in a grocery store that was a Franchise and that company charges a fee to have the ideal placement on the shelves, or near the cash register , knowing that some people (or most) buy on impulse. That is why adverting of a product with colorful and eye catching themes becomes very important .

If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which one of the following represents the figure of gross profit for the year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250

Description : If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which ... year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250

Last Answer : Answer: Rs. 12,500

Maintenance of intended delegation requires that decisions lying within the individual managers’ authority should be made by them and not referred upwards in the organizational hierarchy. This is known as– (A) principle of unity of command (B) scalar principle (C) authority level principle (D) principle of absoluteness of responsibility

Description : Maintenance of intended delegation requires that decisions lying within the individual managers' authority should be made by them and not referred upwards in the organizational hierarchy. This is ... scalar principle (C) authority level principle (D) principle of absoluteness of responsibility

Last Answer : Answer: authority level principle

Wider span of control is effective in organization where– (A) authority delegation is inadequate (B) tasks are complex (C) thorough subordinate training scheme exists (D) the leadership style is authoritarian

Description : Wider span of control is effective in organization where– (A) authority delegation is inadequate (B) tasks are complex (C) thorough subordinate training scheme exists (D) the leadership style is authoritarian

Last Answer : Answer: thorough subordinate training scheme exists

One of the major disadvantages of the Matrix form of organization structure is that– (A) it does not pinpoint product profit responsibility (B) it is not oriented towards results (C) there is possibility of disunity of command (D) it generates rivalry between line and staff members

Description : One of the major disadvantages of the Matrix form of organization structure is that– (A) it does not pinpoint product profit responsibility (B) it is not oriented towards results (C) there is possibility of disunity of command (D) it generates rivalry between line and staff members

Last Answer : Answer: there is possibility of disunity of command

Which Stock Exchange was the first to introduce a transparent, screen-based trading system in the wholesale debt market including govt. securities in 1994 ? (A) Bombay Stock Exchange (B) Delhi Stock Exchange (C) National Stock Exchange (D) Jaipur Stock Exchange

Description : Which Stock Exchange was the first to introduce a transparent, screen-based trading system in the wholesale debt market including govt. securities in 1994 ? (A) Bombay Stock Exchange (B) Delhi Stock Exchange (C) National Stock Exchange (D) Jaipur Stock Exchange

Last Answer : Answer: National Stock Exchange

Which one of the following statements is false ? (A) The Open Market Operations involve the sale or purchase of govt. securities by the Central Bank (B) The RBI manages longterm liquidity through rapos (C) The RBI manages longterm liquidity through Open Market Operations (D) Open Market Operations do not alter the total stock of govt. securities but change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks

Description : Which one of the following statements is false ? (A) The Open Market Operations involve the sale or purchase of govt. securities by the Central Bank (B) The RBI manages longterm liquidity through ... change the proportion of govt. securities held by the RBI, Commercial Banks and Co-operative Banks

Last Answer : Answer: The RBI manages longterm liquidity through rapos