Description : In accounting terms, what constitutes the 'closing stock'? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment - Capital Losses
Last Answer : (4) Opening Stock + Net Investment - Capital Losses Explanation: Closing stock refers to the goods remaining un-sold during the year. It includes finished products, raw materials, or work in progress ... with the following calculation: Opening stock + Purchases - Closing stock = Cost of goods sold.
Description : The two concept of working capital are gross working capital and -------------------------- a) Net working capital b) Average working capital c) Opening working capital d) Closing working capital a
Last Answer : b) Average working capital
Description : Investment is equal to : (1) gross total of all types of physical capital assets (2) gross total of all capital assets minus wear and tear (3) stock of plants, machines and equipments (4) None of the above
Last Answer : (2) gross total of all capital assets minus wear and tear Explanation: Capital formation is frequently thought of as a measure of total "investment", in the sense of that portion of ... concept that includes investment in all kinds of capital assets, whether physical property or financial assets.
Description : Investment is equal to - (1) gross total of all types of physical capital assets (2) gross total of all capital assets minus wear and tear (3) stock of plants, machines and equipments (4) None of these
Last Answer : (2) gross total of all capital assets minus wear and tear Explanation: Investment" is a broader concept that includes investment in all kinds of capital assets, whether physical property or financial assets. In ... out the loss in capital value of assets used due to wear & tear, obsolescence, etc.
Last Answer : gross total of all capital assets minus wear and tear
Description : The difference between gross investment and net investment is (a) Depreciation (b) Acceleration © Deceleration (d) Capital investment
Last Answer : (a) Depreciation
Description : In a business, raw materials, components, work in progress and finished goods are jointly regarded as - (1) capital stock (2) inventory (3) investment (4) net worth
Last Answer : (2) inventory Explanation: Inventory refers to raw materials, work-in-process goods and completely finished goods that are considered to be the portion of a business's assets that are ... of the primary sources of revenue generation and subsequent earnings for the company's shareholders/owners.
Description : In a business, raw materials, components, work in progress and finished goods are jointly regarded as (1) capital stock (2)inventory (3) investment (4)net worth
Last Answer : inventory
Description : If Opening Stock – Rs.15,000 Purchases – Rs.37,500 Direct Expenses – Rs.1,500 Closing Stock – Rs.7,500 Operating Expenses – Rs.3,000 Sales are Rs. 60,000 during the year, what is the net profit ? (A) Rs. 12,000 (B) Rs. 10,500 (C) Rs. 7,500 (D) Rs. 3,000
Last Answer : Answer: Rs. 10,500
Description : Calculate cost of sales from the following: Net Works cost: Rs. 2,00,000 Office & Administration Overheads: Rs. 1,00,000 Opening stock of WIP: Rs. 10,000 Closing Stock of WIP: Rs. 20,000 Closing stock of finished goods: Rs. ... Rs. 2,70,000 (b) Rs. 2,80,000 (c) Rs. 3,00,000 (d) Rs. 3,20,000
Last Answer : (b) Rs. 2,80,000
Description : Gross profit is A) Cost of goods sold + Opening stock B) Excess of sales over cost of goods sold C) Sales fewer Purchases D) Net profit fewer expenses of the period
Last Answer : Answer: B
Description : Net National Product in National Income Accounting refers to - (1) Gross Domestic Product—Depreciation (2) Gross Domestic Product + Subsidies (3) Gross National Product—Depreciation (4) Gross National Product + Subsidies
Last Answer : (3) Gross National Product-Depreciation Explanation: Net national product at market price is the market value of the output of final goods and services produced at current price in one year of ... the depreciation charges from the gross national product, we get net national product at market price.
Description : Net National Product in National Income Accounting refers to (1) Gross Domestic Product— Depreciation (2) Gross Domestic Product + Subsidies (3) Gross National Product— Depreciation (4) Gross National Product + Subsidies
Last Answer : Gross National Product— Depreciation
Description : Which of the following is not required while computing Gross National Product (GNP)? (1) Net foreign investment (2) Private investment (3) Per capita income of citizens (4) Purchase of goods by government
Last Answer : (3) Per capita income of citizens Explanation: Gross National Product (GNP) is the market value of all products and services produced in one year by labour and property supplied by the ... measures the value of goods and services that the country's citizens produced regardless of their location.
Description : The difference between the Gross value added and Net value added is: a) Investment b) Value added c) Production flow d) Depreciation
Last Answer : d) Depreciation
Description : What does the term Gross investment mean while denoting a nation'seconomy? a) Gross investment= Net investment + Depreciation b) Gross investment= Net investment - Depreciation c) Gross investment= Depreciation - Net investment d) None of the above
Last Answer : a) Gross investment= Net investment + Depreciation
Description : Which of the following is not required while computing Gross National Product (GNP) ? (1) Net foreign investment (2) Private investment (3) Per capita income of citizens (4) Purchase of goods by government
Last Answer : Per capita income of citizens
Description : A firm’s investment in current asset is known as ---------------- a) Net working capital b) Gross working capital c) Average working capital d) None of these
Last Answer : b) Gross working capital
Description : GDP at market prices is the sum of Consumption, Investment, Government Spending and Net Exports. „Net‟ exports is (a) Gross exports minus depreciation ; (b) Exports minus imports ; (c) Gross exports earnings minus capital inflow ; (d) Export minus imports of merchandize
Last Answer : (b) Exports minus imports ;
Description : Which of the following constitutes Foreign Direct Investment? A. A speculator trying to make a profit by buying company shares on a foreign stock exchange. B. A UK energy company buying territory ... D. A company signing an agreement with a wholesaler to distribute its products in foreign markets.
Last Answer : A tourist purchasing foreign currency to spend on a holiday abroad.
Description : When sale is Rs. 4,80,000, gross loss is 25% on cost, purchase is Rs. 3,50,000 and closing stock is Rs. 60,000, the stock in the beginning would be– (A) Rs. 70,000 (B) Rs. 94,000 (C) Rs. 1,34,000 (D) Rs. 3,50,000
Last Answer : Answer: Rs. 3,50,000
Description : Which of the following is Stock concept ? (a) Capital (b) Investment (c) Income (d) Profit
Last Answer : (a) Capital
Description : Keynesian theory of investment is known as ----- (a) Marginal Efficiency of Capital Theory. (b) Marginal Efficiency of Investment Theory. © Optimum Stock of Capital Theory. (d) Actual Stock of Capital Theory.
Last Answer : (b) Marginal Efficiency of Investment Theory.
Description : Average stock of firm is Rs. 80,000, the opening stock is Rs. 10,000 less than closing stock. Find opening stock. (A) Rs. 95,000 (B) Rs. 85,000 (C) Rs. 90,000 (D) Rs. 75,000
Last Answer : Answer: Rs. 75,000
Description : Explain Me What Is Opening Stock And Closing Stock?
Last Answer : At the beginning of a reporting period, or after a cycle count, the stock available in your inventory account is the Opening Stock. It is also called as Beginning Inventory. So, there's an Opening Stock. ... it is under debit. In trading Account, it is under credit. Because, it is still not traded.
Description : Calculate the value of closing stock from the following according to LIFO method: 1st January, 2014: Opening balance: 50 units @ Rs. 4 Receipts: 5th January, 2014: 100 units @ Rs. 5 12th January, 2014: 200 units @ Rs. 4.50 ... , 2014: 150 units (a) Rs. 765 (b) Rs. 805 (c) Rs. 786 (d) Rs. 700
Last Answer : (b) Rs. 805
Description : Calculate the value of closing stock from the following according to FIFO method: 1st January, 2014: Opening balance: 50 units @ Rs. 4 Receipts: 5th January, 2014: 100 units @ Rs. 5 12th January, 2014: 200 units @ Rs. 4.50 ... , 2014: 150 units (a) Rs. 765 (b) Rs. 805 (c) Rs. 786 (d) Rs. 700
Last Answer : (a) Rs. 765
Description : Calculate value of closing stock from the following: Opening stock of finished goods (500 units) : Rs. 2,000 Cost of production (10000 units) : Rs. 50,000Closing stock (1000 units):? (a) Rs. 4,000 (b) Rs. 4,500 (c) Rs. 5,000 (d) Rs. 6,000
Last Answer : (b) Rs. 4,500
Description : Which of the following statement is true? (a) Value added = total sales + closing stock of finished goods - opening stock of finished goods - total expenditure on raw material - intermediate ... stock of finished goods and semi finished goods - total expenditure on raw material - intermediate goods.
Last Answer : (d) Value added = total sales + closing stock of finished goods and semi finished goods – opening stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods.
Description : In order to find out the value of the closing stock during the end of the financial year we, A) do this by stocktaking B) deduct the cost of goods sold from sales C) deduct opening stock from the cost of goods sold D) look in the stock account
Last Answer : Answer: A
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 : When the opening balance of cash and cash equivalent is added to the net increase , the total will be the____________ a) Closing balance of cash b) Closing balance of bank c) Opening balance of bank d) Closing balance of cash and cash equivalent
Last Answer : b) Closing balance of bank
Description : Closing entries are made a. in order to terminate the business as an operating entity. b. so that all assets, liabilities, and Stockholders' equity accounts will have zero balances when the ... ) and dividends to the retained earnings account. d. so that financial statements can be prepared.
Last Answer : c. in order to transfer net income (or loss) and dividends to the retained earnings account. unt.
Description : For the financial year ended as on March 31, 2013 the figures extracted from the balance sheet of Xerox Limited as under: Opening Stock Rs. 29,000; Purchases Rs. 2,42,000; Sales Rs. 3,20,000; Gross Profit 25% of ... Stock Turnover Ratio will be :- (a) 8 times (b) 6 times (c) 9 times (d) 10 times
Last Answer : (a) 8 times
Description : The accounting report indicates that Alton's sales increased by £2 millions last year. While the Chairman is pleased, the marketing vice president feels that inflation had a great deal to do with this result ... the firm's performance last year. A)net sales B)gross profits C)market share D)cash flow
Last Answer : C)market share
Description : Few items of P/L A/c of a company are– Sales – Rs.1,60,000 Closing stock – Rs.38,000 Non-operating Expenses – Rs.800 Non-operating Income – Rs.4,800 Net Profit – Rs.28,000 What is the Operating Profit Ratio ? (A) 18% (B) 20% (C) 15% (D) 57%
Last Answer : Answer: 15%
Description : Disinvestments is - (1) offloading of shares of privates companies to government (2) offloading of government shares to private companies (3) increase in investment (4) closing down of business concerns
Last Answer : (2) offloading of government shares to private companies Explanation: Disinvestment is a process where Government sells its equity holding to private sectors. In other ways it is a ... process where private parties are given shareholding in Government undertakings either wholly or partially.
Description : Disinvestements is (1) offloading of shares of privates companies to government (2) offloading of government shares to private companies (3) increase in investment (4) closing down of business concerns
Last Answer : offloading of government shares to private companies
Description : If closing capital is ₹ 30,000 and profit is ₹ 5,000 opening capital was __________
Last Answer : If closing capital is ₹ 30,000 and profit is ₹ 5,000 opening capital was __________ (a) ₹ 35,000 (b) ₹ 30,000 (c) ₹ 25,000 (d) ₹ 15,000
Description : (i) Excess of opening capital over closing capital of proprietor under single entry system.
Last Answer : Write a word, term, or phrase which can substitute each of the following statements : (i) ... (v) The incomplete method of the accounting system.
Description : Explain the following a) Dry Bulb Temperature and Wet bulb Temperature b) Maximum Demand and Power Factor c) Gross Calorific Value & Net Calorific Value d) 5S & Return of Investment (ROI) e) CUSUM
Last Answer : a) Dry Bulb Temperature and Wet bulb Temperature Dry bulb Temperature is an indication of the sensible heat content of air-water vapour mixtures Wet bulb Temperature is a measure of ... of capital cost. This is a broad indicator of the annual return expected from initial capital investment
Description : If an auditor had a substantial stock investment in a client that s(he) was auditing, which of the following would be true? a. The auditor would lack independence. b. The auditor ... be violating the Institute of Management Accounting standards d. The auditor would be violating the IIA standards
Last Answer : The auditor would lack independence
Description : Example of activity ratios ------------------------ a) Gross profit ratio b) Net profit ratio c) Operating ratio d) Stock turn over ratio
Last Answer : d) Stock turn over ratio
Description : A ……average of a stock index is the average level of the index over a given interval of time a. static b. moving c. gross d. net
Last Answer : Answer:b
Description : Acording to Keynesian theory of income determination, at full employment, a fall in aggregate demand causes - (1) a fall in prices of output and resources (2) a fall in real gross National product ... a rise in real gross National product and investment (4) a rise in prices of output and resources
Last Answer : (1) a fall in prices of output and resources Explanation: In 1936, John Maynard Keynes published the book "The General Theory of Employment, Interest and Money to explain the prolonged and ... at a below-full-employment equilibrium. Suppose that the economy is at the full-employment equilibrium.
Description : Gross Profit means - (1) Total investment over total saving (2) Changes in methods of production (3) Changes in the form of business organisation (4) Total receipts over total expenditure
Last Answer : (4) Total receipts over total expenditure Explanation: In accounting, gross profit or sales profit is the difference between revenue and the cost of making a product or providing a service, before deducting ... . Gross profit = Net sales (total receipts) - Cost of goods sold (total expenditure).
Description : According to Keynesian theory of income determination, at full employment, a fall in aggregate demand causes (1) a fall in prices of output and resources (2) a fall in real gross National product and ... rise in real gross National product and investment (4) a rise in prices of output and resources
Last Answer : a fall in prices of output and resources
Description : Gross Profit means (1) Total investment over total saving (2) Changes in methods of production (3) Changes in the form of business organisation (4) Total receipts over total expenditure
Last Answer : Total receipts over total expenditure
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 : Aggregate net value of the output in one year is the - (1) National income at factor cost (2) Gross Domestic Product at market prices (3) Net. National Product at market prices (4) Gross National Product at market prices
Last Answer : (3) Net. National Product at market prices Explanation: Net national product at market price is the market value of the output of final goods and services produced at current price in ... at market price, Net national product at market price=Gross national product at market priceDepreciation.