Chapter 3 Accounting & Financial Analysis * nit) Qu: The alternative to cash basis of accounting is (a) abridged (b) summarized (©) mirror @ related Q3: Recording of transaction and events as and when they occur and classifying them into suitable account heading is the subject matter o (a) Financial Accounting. (b) Cost Accounting (c) Management Accounting (4) Book Keeping Q4: Book Keeping is mainly concerned with the recording of financial data relating to the ..... in significant and orderly ‘manner. (a) Business (b) Personal (6) Company (2) Monetary Q5: As per the dual aspect concept (a) Assets = Liablities + Capital 79Handbook of Multiple Choice Q: (b) Assets = Liablities - Capital (©) Assets + Liablities = Capital () Assets+Capital = Liabilities 26: Which of the following is correct @) Assets = Liabilities - Capital (>) Assets = Capital - Liabilities (©) Assets = Liabilities + Capital {d) Assets = Enternal Equities The liabilities of a firm are Rs. 600 Propreitor is Rs, 4000. The total ass @) Rs. 6000 (6) Rs. 10000 (©) Re. 2000 () Rs. 4000 Q.8: The assets are Re. 10000 and Habilit would be- (@) Rs. 10000 (b) Rs. 12000 (2) Rs. 8000 (i) Rs. 2000 Q.9: Revenue is generally recognized at & principle is applied. (@) Consistency () Marketing (©) Realisation (a) Cost principle 2.20: The assumption thata business ente or liquidated in the near future is knw (@) Separate entity @) Going concern (©) Periodic (A) Conservatism Q-44: Companies must prepare financia yearly due to the ...........concept, @) Business entity @) Going concer 80ng & Financial Analyste t system yetem stem ‘faccunting ey measurement conept the Following, the books of accounts of the business ctor pany goods and machinery igera £ conservation, when applied to the tin itof assets ‘of assets atef Hability of lability, of accounting is to ness transaction of monetary nature nanetal data nagement performing functions data id only transac! ms which are of 1 Accounting Standard, disclosure of is based on. a Accounting Standard, valuation of ded in 33,Hanavoos oy masse wines @) ast () asz (©) ASH (@ ass 0.0: Cash Flow Statement is prepared as per the Indian ‘Accounting Standard (a) ASL () as2 ©) ASd (a) ASS {Q31: Depreciation accountings based on the Indian Accounting ‘Standard fa) AS4 Ass fe) AS6 (a as7 32: At presentthe accounting standards issued by Insitute of Chartered Accountants of India are @ 2 @) 2 (©) 30 @ a 33: Which of the following is not a source document. (@) Cash memo (b) Invoice & bill (©) Pay-inSlip {d) Cash book