LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Multiple Choice Multiple Answer Question Essentials for effective implementation of budgetary control system are Correct Answer Commitment of top management , Clearly defined objectives , Continous budget education Your Answer Commitment of top management , Clearly defined objectives , Continous budget education Multiple Choice Multiple Answer Question Features of convention of consistency are . . . Correct Answer The accounting policies and procedures should be followed consistently , Facilitates the comparison of financial statements , It facilitates comparison of financial statements on period-toperiod basis Your Answer The accounting policies and procedures should be followed consistently , It facilitates comparison of financial statements on period-to-period basis True/False Question

The bin card and stores ledger, being independent records, comparison of these two records should be avoided. Correct Answer False Your Answer False

Match The Following Question Dividend paid Freight inwards Sales Freight outwards

Correct Answer Profit and loss appropriation account Manufacturing account Trading account Profit and loss account

Your Answer Profit and loss account Manufacturing account Capital account Trading account

Select The Blank Question Large angle of incidence indicates ________ amount of profits. Correct Answer higher Your Answer True/False Question same

Error of commission refer to a situation where a transaction is not recorded in the books of account. Correct Answer False Your Answer True