| 1001 |
Under Schedule III, bills payable are shown under |
Accountancy/Book Keeping
Financial statements of a company |
Easy |
| 1002 |
Goodwill is shown in a company's balance sheet under |
Accountancy/Book Keeping
Financial statements of a company |
Easy |
| 1003 |
Under Schedule III, loose tools are classified as |
Accountancy/Book Keeping
Financial statements of a company |
Medium |
| 1004 |
Under which sub-heading is a bank overdraft shown in a company's balance sheet? |
Accountancy/Book Keeping
Financial statements of a company |
Medium |
| 1005 |
A company cannot identify its normal operating cycle. A loan from a bank is repayable in 18 months. How is it… |
Accountancy/Book Keeping
Financial statements of a company |
Hard |
| 1006 |
Analysis of financial statements of a firm for a single year, comparing items with a common base, is called |
Accountancy/Book Keeping
Financial analysis |
Easy |
| 1007 |
Which is a limitation of financial analysis? |
Accountancy/Book Keeping
Financial analysis |
Easy |
| 1008 |
A supplier giving goods on three months' credit to a company is mainly interested in its |
Accountancy/Book Keeping
Financial analysis |
Medium |
| 1009 |
A company shows good profits, but its skilled staff are leaving due to poor working conditions. Why might fin… |
Accountancy/Book Keeping
Financial analysis |
Medium |
| 1010 |
Comparing a company's revenue for five consecutive years, with the first year as base, is an example of |
Accountancy/Book Keeping
Financial analysis |
Hard |
| 1011 |
In a common-size Statement of Profit and Loss, each item is expressed as a percentage of |
Accountancy/Book Keeping
Comparative and common-size statements |
Easy |
| 1012 |
Revenue from operations rose from ₹2,00,000 to ₹2,50,000. What is the percentage change shown in a comparativ… |
Accountancy/Book Keeping
Comparative and common-size statements |
Easy |
| 1013 |
Which statement allows a small firm and a large firm in the same industry to be compared easily? |
Accountancy/Book Keeping
Comparative and common-size statements |
Medium |
| 1014 |
A company's revenue from operations is ₹2,40,000 and its cost of revenue from operations is ₹1,80,000. In a c… |
Accountancy/Book Keeping
Comparative and common-size statements |
Medium |
| 1015 |
Revenue rose from ₹2,00,000 to ₹2,40,000 and expenses rose from ₹80,000 to ₹1,00,000. What does a comparative… |
Accountancy/Book Keeping
Comparative and common-size statements |
Hard |
| 1016 |
The debt-equity ratio belongs to which category of ratios? |
Accountancy/Book Keeping
Accounting ratios |
Easy |
| 1017 |
Current assets are ₹3,00,000 and current liabilities ₹1,50,000. What is the current ratio? |
Accountancy/Book Keeping
Accounting ratios |
Easy |
| 1018 |
Current assets are ₹3,00,000, including inventory of ₹80,000 and prepaid expenses of ₹20,000. Current liabili… |
Accountancy/Book Keeping
Accounting ratios |
Medium |
| 1019 |
Cost of revenue from operations is ₹4,80,000, opening inventory ₹70,000 and closing inventory ₹90,000. What i… |
Accountancy/Book Keeping
Accounting ratios |
Medium |
| 1020 |
Current assets are ₹2,00,000 and current liabilities ₹1,00,000. The firm pays ₹50,000 to its trade creditors.… |
Accountancy/Book Keeping
Accounting ratios |
Hard |
| 1021 |
For a manufacturing company, dividend paid is classified as a cash flow from |
Accountancy/Book Keeping
Cash flow statement |
Easy |
| 1022 |
In the indirect method, depreciation is added back to net profit because it is |
Accountancy/Book Keeping
Cash flow statement |
Easy |
| 1023 |
Net profit is ₹1,00,000. Depreciation is ₹20,000, trade receivables increased by ₹15,000 and trade payables i… |
Accountancy/Book Keeping
Cash flow statement |
Medium |
| 1024 |
Machinery with a book value of ₹50,000 is sold for ₹40,000. How is this shown in the cash flow statement? |
Accountancy/Book Keeping
Cash flow statement |
Medium |
| 1025 |
Profit before tax is ₹1,50,000; depreciation ₹20,000; loss on sale of machinery ₹10,000; trade receivables up… |
Accountancy/Book Keeping
Cash flow statement |
Hard |
| 1026 |
Which type of accounting software is most suitable for a small shop with simple, standard needs and a limited… |
Accountancy/Book Keeping
Concept and types of computerised accounting |
Easy |
| 1027 |
Which of these is a limitation of a computerised accounting system? |
Accountancy/Book Keeping
Concept and types of computerised accounting |
Easy |
| 1028 |
A large bank needs accounting software designed specially for its many branches and confidential processes. W… |
Accountancy/Book Keeping
Concept and types of computerised accounting |
Medium |
| 1029 |
An accountant enters a correct voucher but posts ₹5,000 to the wrong expense head. Why might a CAS fail to de… |
Accountancy/Book Keeping
Concept and types of computerised accounting |
Medium |
| 1030 |
A firm buys a standard accounting package and gets the vendor to add a module for its special commission rule… |
Accountancy/Book Keeping
Concept and types of computerised accounting |
Hard |
| 1031 |
Codes that use letters to help users remember the account, such as "SAL" for sales, are called |
Accountancy/Book Keeping
Structure of CAS |
Easy |
| 1032 |
In a chart of accounts, the lowest level of the hierarchy consists of |
Accountancy/Book Keeping
Structure of CAS |
Easy |
| 1033 |
A firm reserves codes 100–199 for assets, 200–299 for liabilities and 300–399 for revenues. Which type of cod… |
Accountancy/Book Keeping
Structure of CAS |
Medium |
| 1034 |
Vouchers in a CAS are numbered 1, 2, 3 and so on, in the order in which they are entered. What type of coding… |
Accountancy/Book Keeping
Structure of CAS |
Medium |
| 1035 |
Which arrangement correctly shows the hierarchy from top to bottom for a customer's account? |
Accountancy/Book Keeping
Structure of CAS |
Hard |
| 1036 |
An Accounting Information System is best described as a |
Accountancy/Book Keeping
Accounting Information System |
Easy |
| 1037 |
Which subsystem of an AIS would produce a list of amounts due from customers? |
Accountancy/Book Keeping
Accounting Information System |
Easy |
| 1038 |
The calculation of employees' salaries, deductions and net pay is handled by which subsystem? |
Accountancy/Book Keeping
Accounting Information System |
Medium |
| 1039 |
Which of the following is NOT a component of an Accounting Information System? |
Accountancy/Book Keeping
Accounting Information System |
Medium |
| 1040 |
A manager receives an accurate sales report three months after the quarter ends, too late to change prices. W… |
Accountancy/Book Keeping
Accounting Information System |
Hard |
| 1041 |
In a spreadsheet, every formula must begin with |
Accountancy/Book Keeping
Spreadsheets in accounting |
Easy |
| 1042 |
Which spreadsheet error appears when a formula tries to divide a number by zero? |
Accountancy/Book Keeping
Spreadsheets in accounting |
Easy |
| 1043 |
An accountant wants to summarise thousands of sales records into total sales by region and month. Which sprea… |
Accountancy/Book Keeping
Spreadsheets in accounting |
Medium |
| 1044 |
A formula in cell C5 is =C5+B5. What problem does this create? |
Accountancy/Book Keeping
Spreadsheets in accounting |
Medium |
| 1045 |
Cell C1 contains =$A$1*B1. The formula is copied to C2. What formula appears in C2? |
Accountancy/Book Keeping
Spreadsheets in accounting |
Hard |
| 1046 |
Which spreadsheet function calculates the equal periodic instalment for repaying a loan? |
Accountancy/Book Keeping
Schedules with spreadsheets |
Easy |
| 1047 |
In a payroll sheet, net pay is calculated as |
Accountancy/Book Keeping
Schedules with spreadsheets |
Easy |
| 1048 |
A machine costs ₹1,00,000, has a salvage value of ₹10,000 and a useful life of 5 years. What does SLN give as… |
Accountancy/Book Keeping
Schedules with spreadsheets |
Medium |
| 1049 |
An employee's basic pay is ₹20,000, DA is 50% of basic and HRA is 20% of basic. Provident fund at 12% of (bas… |
Accountancy/Book Keeping
Schedules with spreadsheets |
Medium |
| 1050 |
A loan of ₹1,00,000 at 12% per annum is repaid in monthly instalments. How much of the first instalment is in… |
Accountancy/Book Keeping
Schedules with spreadsheets |
Hard |