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Published by Ali Asharaf Khan
SMU MBA 1 Sem Model Question Paper MB0025
SMU MBA 1 Sem Model Question Paper MB0025

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Published by: Ali Asharaf Khan on Jan 12, 2011
Copyright:Attribution Non-commercial


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Winsoft Technologies
MD. A. A Khan
Section A (2-Marks)
1. A business is an artificial entity distinctfrom its proprietors. This is based on whichconcept?a) accrual conceptb) money measurement concept
c) entity conceptd) periodicity concept2. --------------- has more than one ownerwho have agreed to share profits of abusiness, carried on by all or any of themacting for all.a) Corporate entityb)partnership firmc )all business entityd)sole proprietorship firm3. “Anticipate no profit but provide allpossible losses”. Which concept says so?a) the realization conceptb) the matching conceptc) concept of prudenced)the accrual concept4.The valuation of assets & liabilitiesprinciple depends on which concept ?a)the cost conceptb)money measurement conceptc)the periodicity conceptd)the going concern concept5.According to the income tax law,1961 ,business unit should follow a uniformaccounting period i.e.:a)fiscal yearb)calendar yearc)both of the yearsd)none.6.A happening of consequence to an entityknown as--------------a)eventb)vouchersc)booksd)journal7.Which of the following is a type ofvouchers ?a)receipt voucherb)payment vouchersc)journal vouchersd)all of these8. ----------------- is drawn to record all non-cash transactions and events.a)receipt voucherb)payment vouchersc)journal vouchersd) all of the above9.FASB stands for:a)financial accounting standard boardb)financial accounting state boardc) Both of themd)none of the above10.Which of the following equation is correct?a) assets = liability + capitalb) liability =assets + capitalc) assets = capital – liabilityd) none of the above11. ------------ is the residual interest ofowners in assets over liabilities.a)assetsb)capitalc)capitalizationd) liability
Winsoft Technologies
MD. A. A Khan
12.The income and expenses should berecognized as & when they are earned andincurred , irrespective of whether the moneyis received or paid in connection thereof.a)accrual conceptb)cost conceptc)cash basisd)none of the above13. If you pass in MBA. It will give you agreat deal of satisfaction .this expressioncan not be made in money
term . This isbecause of which concept ?a)accrualb)money measurementc)cost conceptd)business entity concept14. ------------- is a book of first entry orprime entry .a)primary bookb)secondary bookc)cash bookd)all of above15. ------------- records credit sale of goods.a) purchase day bookb) sale day bookc) journal day bookd) None16. ------------ is a documentary evidence inwriting , containing an unconditional
order signed by the maker , directing a certainperson to pay a certain sum of money to thebearer of the instrument.
a)B/Eb)B/Rc)B/Pd)all17. ------------- records goods returned to thesuppliers.a)return inwardb)return outwardc)sales returnd) none of the above18.Ram commenced business with Rs.15000.The J.E for this is:a) Ram’s a/c Dr.b)Ram’s capital a/c Dr.To cash a/cTo cash a/cc) Cash a/c Dr.d) Capital a/c Dr.To Ram’s capital a/c To Ram’s a/c19.Withdrew cash from bank for private useRs. 20,000.The J.E is : Cash a/c Dr. To Bank a/ca) trueb)false20.-------------- records daily cash & bankreceipt and payment.a)cash bookb)bank book21. Cost sheet shows the total cost of _______ only.a. Purchaseb. Productionc. Salesd. All of above22. PRIME Cost + Factory overhead =?a. Factory Costb. Production Costc. Selling & Distributiond. Total Cost23 A Cost Sheet with sales & profit data arecalled _________ .a. Expert Cost Sheetb. Extended Cost Sheetc. Cost Sheet productiond. None of above24 _________ refers to the cost ofmaterials, which become a major part of thefinished product.a. Direct labor costb. Direct expense costc. Direct material costd. All of above25 Sunk cost is relevant cost.a. Trueb. False26 Depreciation is a type of which cost.a. Non-cash costb. Incremental costc. Sunk cost
Winsoft Technologies
MD. A. A Khan
d. Imputed cost27. Opportunity cost is also known asopportunity lost.a. Trueb. False28. A cost, which can be influenced by theaction of a specified number of anundertaking, is called.a. Controllable costb. Non-Controllable costc. Incrementald. Detrimental cost
29. P/V ratio = C/Sa. Trueb. False30. Which of the following is correct.a. C=S+VCb. C=F+Pc. S=C-VCd. All of the above31. P/V stands for profit/value ratio.a. Trueb. False32.-------------- will have separate accountsfor each customer.a) journal ledgerb) creditor ledgerc) debtor ledgerd) cash ledger33. In a B.E. chart, the horizontal axis (x-axis) represents _________ .a. Cost of productionb. Outputc. Inputd. Profit34. Variable Cost = Marginal Cost.a. Trueb. False35. Sales - ____________ = Margin ofsafetya. Break even pointb. Break even salesc. P/V ratiod. Profit36. Which of the following heads is not anapplication of marginal costing.a. Competitionb. Recessionc. Special customerd. None of above37. The consolidated summary of variousfunctional budget is called:a. Functional budget b. Flexible budgetc. Master budget d. Fixed budget38. F.C = P/V X S – F.a. Trueb. False39. Which of the following is correct.a. P/V ratio = Change in profit X 100b. P/V ratio = C/S Change in salesc. P/C ratio = C/Sd. All of the above40. Graphical representation of cost &revenue showing their relations at differentvolumes of output is called _________.a. Break even chartb. Break-even pointc. Margin of safetyd. Profit/volume ratio
Section B (2-Marks)
Q. If: share – capital – 1,60,000general reserves – 60,000profit & loss A/c – 1,00,000loan @ 15% interest – 2,00,000sales for the yr. – 5,60,000tax paid - 40,000Profit for the current year afterInterest & tax – 80,00041. Debt – Equity ratio is:a. 3,20,000 b. 2,20,000c. 1,80,000 d. 2,60,00042. Interest coverage ratio is:a. 4 times b. 5 timesc. 6 times d. 3 times43. Return coverage ratio is:a. 28.9% b. 5 timesc. 6 times d. 3 times

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