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MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN

AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.


Which of the following represent(s) the Prime Cost?
Select correct option:
Direct Material Cost + Direct Labour Cost
Total Factory Cost Factory Overheads
Conversion Cost Factory Overheads + Direct Material Costs
All of the given options
A debit balance of Rs.5,000 on As account in the books of B means that:
Select correct option:
A is receivable of B
B is receivable of A
B owes A
A owes B
Which of the following is/are the physical asset(s)?
Select correct option:
Term Finance Certificates
Loan Agreements
Trade Receivables
All of the given options

Which activities by definition do not fulfill the recognition criteria according to IAS38?
Select correct option:
Development activities
Research activities
Both development and research activities
None of the given options

Who elect the Board of Directors (BODs) of a company?


Select correct option:
Managers
Shareholders
Employees
Both Managers & Employees
Which of the following methodology is adopted for the valuation of investments held
to maturity?
Select correct option:
Proportionate Consolidation or Equity Method
At cost or Under IAS 39
At amortized cost

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
At fair value

Which one of the following IAS is related to the Interest in Joint Venture?
Select correct option:
IAS 27
IAS 28
IAS 31
IAS 32

Which of the following is another name for Authorized Capital of a company?


Select correct option:
Nominal Capital
Issued Capital
Subscribed Capital
Paid up Capital
According to IAS-16, property, plant and equipment are the assets which held for
Select correct option:
Production of goods or services
Supply of goods or services
Administrative purpose
All of the given options
The present value of a sum of Rs. 200 to be received in the future will be:
Select correct option:
More than Rs. 200
Equal to Rs. 200
Less than Rs. 200
None of the given options

At least what percentage of voting right is required for assuming an investor company
to have significant influence in the affairs of investee company?
Select correct option:
50%
10%
20%
60%

Which one of the following is related to the IAS 32?


Select correct option:
Consolidated and Separate Financial Statements

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Interest in Joint Venture
Financial Instruments Disclosure and Presentation
Financial Instruments Recognition and Measurement

Which one of the following expenses should be included in prime cost?


Select correct option:
Repairs to factory plant
Office salaries
Factory insurance
Direct production wages

Which of the following is/are the Classification of Current Assets with respect to the
Companies Ordinance 1984?
Select correct option:
Stock
Cash Balance
Finished Goods
All of the given options

Depreciation is best described as:


Select correct option:
A decline in the market value of the assets
A means of expanding the net-cost of non-current assets over their useful life
A source of estimating the amount of money needed to replace the assets
A means of spreading the payment for non-current assets over a period of years

Which of the following IAS deals with the Borrowing Costs?


Select correct option:
IAS 23
IAS 07
IAS 01
IAS 16
In which situation, Y will be the indirect subsidiary of X?
Select correct option:
If X holds more than 50% shares of Y and Y holds more than 50% shares of W
If W holds less than 50% shares of X and more than 50% shares of Y
If Y holds more than 50% shares of W and X holds less than 50% shares of Y
If X holds more than 50% shares of W and W holds more than 50% shares of Y

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Which of the following schedule of the Company Ordinance 1984 is related to the
classification of intangible assets?
Select correct option:
4th schedule
5th schedule
6th schedule
2nd schedule
Which of the following intangible assets have un-limited life?
Select correct option:
Copyright
Goodwill
Licensing
Franchising

If the ownership transferred by the end of the lease term then it is called:
Select correct option:
Finance lease
Operating lease
Hire purchase
Possession
Which of the following is NOT the method of stock valuation?
Select correct option:
FIFO Method
Weighted Average Method
Specific Identification Method
Straight Line Method

Partnership firms are registered under which of the following?


Select correct option:
Partnership Act 1932
Companies Ordinance 1984
Partnership Agreement
Income Tax Ordinance 1979
Which of the followings schedule of Companies Ordinance 1984 describes about the
additional heads of non-current assets?
Select correct option:
5th Schedule
4th Schedule
6th Schedule
2nd Schedule

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
If an intangible resource does not fulfill the criteria of intangible asset then what will
be the treatment of expenditures incurred to acquire such intangible resource?
Select correct option:
It will be recorded as non-current asset of the company
It will be recorded as an expense for the period
It will be recorded as current asset of the company
It will be recorded as capital of the company

According to the section 95A of the Companies ordinance 1984, which of the following
statement is correct?
Select correct option:
Creditors are not entitled to object repurchase
Creditors are entitled to object repurchase fully
Creditors are entitled to object repurchase partially
Company is not required to maintain a capital repurchase reserve

Which of the following IAS deals with the Borrowing Costs?


Select correct option:
IAS 23
IAS 07
IAS 01
IAS 16
Depreciable amount of an asset = -----------------Select correct option:
Original cost - Accumulated depreciation
Original cost - Disposal value
Original cost - Depreciation
Original cost - Revalued amount
Which one of the following is NOT recorded under Equity section of the Balance
Sheet?
Select correct option:
Share Premium
Share Capital
Accumulated Profit
Dividend Payable

The classification of a lease as either a finance or operating lease is based on:


Select correct option:
The duration of the lease
Transfer of the risks and rewards of ownership
The minimum lease payments (MLP) being at least 60% of the fair value
Useful economic life of the asset

Which is the objective of financial statements according to IASBs Framework?

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Select correct option:
Provide information about the financial performance, position, and changes in
financial position of an entity which is useful for wide range of users of financial
statements in making economic decisions
Prepare and present income statement, balance sheet, statement of changes in equity
and cash flow statement
Prepare all financial statements in accordance with applicable Accounting Standards
and interpretations
None of the given

Which institute issues the Certificate of Incorporation in Pakistan?


Select correct option:
SEC
SECI
SECP
SECB

Identify which of the following techniques for valuing inventory are allowed under
IAS-2? (i) FIFO (First in First Out) (ii) Average cost (iii) LIFO (Last in First Out)
(iv) Replacement cost
Select correct option:
(i), (ii), (iii), (iv)
(i), (ii), (iv)
(i), (ii)
(iii), (iv)

Which one of the following is TRUE with respect to FIFO in inventory valuation?
Select correct option:
First-In-First-Out
First-In-Freight-Out
Freight-In-First-Out
Freight-In-Freight-Out

Which of the following IAS covers the treatment & recognition of Provision?
Select correct option:
IAS 33
IAS 37
IAS 38
IAS 39

Which of the following represents that the shares are issued at a price below the face
value?
Select correct option:
Share issued at premium

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Share issued at discount
Share issued at par value
Share issued at nominal value

Which of the following has the ability to continue the lease for a secondary period at a
rent which is substantially lower than market rent?
Select correct option:
Lessee
Lessor
Accountant
Businessman

In which case, capitalization of borrowing cost should be suspended for a qualifying


asset?
Select correct option:
When sustainable administrative or technical work is taking place
When active development is interrupted for an extended period
When there is a temporary delay in the process taking place
All of the given options

Which of the following TRUE with respect to Provision?


Select correct option:
It is a liability of uncertain timing or amount?
It is a liability of certain timing or amount?
It is an asset of uncertain timing or amount?
It is an income of uncertain timing or amount?

Which one of the following is the type of stock for trading concerns?
Select correct option:
Raw Material
Work in Process
Finished Goods
Stock in Trade

What is the benchmark treatment of borrowing cost under IAS-23?


Select correct option:
It should be charged as an expense
It should be capitalized
It should be both charged as an expense and capitalized
None of the given options

Which of the following value is recorded in the books of lessee in case of operating
lease asset?
Select correct option:

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Faire value
Present value
Market value
Not recorded at any value

All of the following are Fixed assets EXCEPT:


Select correct option:
Machinery
Freehold land
Leasehold land
Marketable securities

The accounting concept that is primarily used to classify lease as operating or finance
is
Select correct option:
Substance over form
Prudence
Neutrality
Completeness
What should be the treatment of research cost incurred by a business according to
IAS-38?
Select correct option:
It should be recorded as a part of capital of the business
It should be recorded as non-current asset
It should be recorded as current asset
It should be recorded as expense for the period
In which of the followings system(s) FIFO and Weighted Average cost methods of
inventory are used?
Select correct option:
Perpetual System
Periodic System
Both Perpetual & Periodic System
None of the given options

What is reflected by the Memorandum of Association (MOA) of a company?


Select correct option:
Operating procedures of a company
Objectives of a company
Decisions making process of a company
Working environment of a company
Which of the following asset is NOT an example of Tangible Fixed Assets?
Select correct option:
Patent rights
Furniture
Vehicles

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Machinery

Which company is required to represent financial statements after every three, six
and twelve months to SECP and shareholders by Companies Ordinance 1984?
Select correct option:
Public Listed Company
Public Unlisted Company
Single Member Company
Private Unlisted Company
Who sign the Memorandum of Association (MOA) of a company?
Select correct option:
Promoters of the company
Managers of the company
Employees of the company
All of the given options
Which of the following will be included in the cost of inventory?
Select correct option:
Conversion cost
Purchasing cost
Freight inward cost
All of the given options
According to Companies Ordinance 1984, at least what percentage of majority favor
is required to pass the "Special Resolution"?
Select correct option:
45%
60%
75%
90%

Which of the following asset is not an example of Intangible Fixed Assets?


Select correct option:
Vehicles
Good Will
Copyrights
Trade Marks and Designs

Which of the following intangible assets have un-limited life?


Select correct option:
Copyright
Goodwill
Licensing
Franchising

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
ABC Co. exchanges its production machine with filtration plant from XYZ Co. At
what value ABC Co. will record the filteration plant in its books of accounts?
Select correct option:
Carrying value of filteration plant
Realization value of filteration plant
Residual value of filteration plant
Fair value of filteration plant

Which of the following is the application of research findings or other knowledge to a


plan or design for the production of new or substantially improved materials, devices,
products, processes, systems or services before the start of commercial production or
use?
Select correct option:
Applied research
Development
Business research
Accounting
Depreciation is:
Select correct option:
A systematic allocation of depreciable amount of an asset over its estimated useful life
The end life of an asset
The increase in value of asset
Another name of Impairment

What will be the accounting treatment of gain in the books of accounts of a company
which arises from the revaluation of an asset?
Select correct option:
Dr. Asset A/C Cr. Revaluation A/C
Dr. Asset A/C Cr. Accumulated Depreciation A/C
Dr. Asset A/C Cr. Disposal of Asset A/C
Dr. Revaluation A/C Cr. Asset A/C

According to the section 95A of the Companies ordinance 1984, which of the following
statement is correct?
Select correct option:
Creditors are not entitled to object repurchase
Creditors are entitled to object repurchase fully
Creditors are entitled to object repurchase partially
Company is not required to maintain a capital repurchase reserve

Section 96 of the Companies ordinance 1984 is applied on which of the following


companies?
Select correct option:
Listed companies only

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Non listed companies only
Private companies only
All companies

Sitara Textile is using the prudence concept to record the profit in its income
statement. According to prudence concept, Sitara Textile will record profit when it is:
Select correct option:
Expected
Realized
Material
Received
Which one of the following is related to the Benchmark Treatment for an investment
in jointly controlled entities?
Select correct option:
Proportionate Consolidation Method
Equity Method
LIFO Method

Which of the following option is/are TRUE with respect to the Disclosure
requirement for intangible assets acquired by the way of Government grants?
Select correct option:
The fair value initially recognized
Disclosure for carrying amount
Disclosure for the amount of commitments for acquisition of intangible assets
All of the given options

Which document contains the information about authorized share capital of a


company?
Select correct option:
Memorandum of Association
Memorandum of Undertaking
Memorandum of Understanding
Both Memorandum of Association & Memorandum of Understanding

Which of the following is INCORRECT with respect to Perpetual Inventory System?


Select correct option:
Receipt of inventory is debited to Stock Account
Issuance of inventory is Credited to Stock Account and Debited to Material
Consumption Account
Receipt of inventory is debited to Purchase Account

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Material Consumption Account becomes the part of Trading Account

Which of the following asset is NOT an example of Tangible Fixed Assets?


Select correct option:
Patent rights
Furniture
Vehicles
Machinery

Which of the following represents that the shares are issued at a price below the face
value?
Select correct option:
Share issued at premium
Share issued at discount
Share issued at par value
Share issued at nominal value

If: Total Factory Cost is Rs. 30,000 Opening Work in Process Inventory is Rs. 5,000
Closing Work in Process Inventory is Rs. 10,000 Then: What will be the amount of
Cost of Goods Manufactured?
Select correct option:
Rs. 35,000
Rs. 25,000
Rs. 15,000
Rs. 20,000

Which of the following is related with IAS -17?


Select correct option:
Leasing
Property, Plant and Equipment
Earning per shares
Borrowing costs

Minimum Lease Payment = ------------.


Select correct option:
Initial Payments + Contingent rent Down Payments
Initial Payments + All lease rentals + Contingent rent
Initial Payments + Insurance paid by lessor and recovered from lessee + Any lease
processing charges
Initial Payments + All lease rentals + Any amount that is guaranteed to be paid

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.

In which of the following scenario(s) an investor should record the investment by


using cost method according to IAS-28?
Select correct option:
When investment is solely acquired for the purpose of disposal in near future
When investment is solely acquired for the purpose of long term retaining in future
When investment is solely acquired for the unlimited period
All of the given options

In which year, local legislations of Pakistan permitted to make private limited


company by a single person?
Select correct option:
2002
2001
2000
1999

Which of the following IAS deals with Revaluation of Assets?


Select correct option:
IAS 16
IAS 07
IAS 01
IAS 23

Which activities by definition do not fulfill the recognition criteria according to IAS38?
Select correct option:
Development activities
Research activities
Both development and research activities
None of the given options

Which of the following is/are excluded from Financial Assets?


Select correct option:
Physical Assets
Inventories
Prepaid expenses
All of the given options

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Which of the following is NOT the Classification of Current Assets with respect to the
Companies Ordinance 1984?
Select correct option:
Stock
General Stores
Spare parts
Bank over draft

Both future value and present value of a sum of money are based on:
Select correct option:
Interest Rate
Number of time periods
Both interest rate and number of time periods
Neither interest rate nor number of time period

Which of the following IAS is related to the Consolidated and Separate Financial
Statements?
Select correct option:
IAS 27
IAS 28
IAS 31
IAS 32

Which organizations are required special approvals from SECP for their
establishment?
Select correct option:
Manufacturing Organizations
Non Profit Organizations
Profit Making Organizations
Service Organizations
Which of the following is (are) intangible resources for a company?
Select correct option:
Software licensing
Royalty
Production rights
All of the given options

Which of the following IAS covers the Long-Term Financing?

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Select correct option:
IAS 32 only
IAS 39 only
Both IAS 32 and IAS 39
IAS 17

What is the treatment of Depreciation in accounting?


Select correct option:
Treated as a reserve
Treated as an expense
Treated as a surplus
Treated as a Liability
Which of the followings is(are) type of stock in trade?
Select correct option:
Machinery tools & spares
Consumable stationery
Goods held for resale purpose
All of the given options

In which of the following situations a company operates beyond the scope of its
objectives enlisted in Memorandum of Association (MOA)?
Select correct option:
Ultra Virus
Ultra Violence
Ultra Vires
Ultra Wires
Which of the following is Not a qualitative characteristic of financial statements
according to the IASBs Framework?
Select correct option:
Materiality
Understandability
Comparability
Relevance
The profit on a finance lease transaction for lessor who can be either manufacturer or
dealer should:
Select correct option:
Not be recognized separately from finance income
Only be recognized at the end of the lease term
Be allocated on a straight line basis over the life of the lease
Be recognized in the normal way on the transaction

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Which of the following is an agreement whereby the lessor conveys to the lessee in
return for a payment or series of payments the right to use an asset for an agreed
period of time?
Select correct option:
A lease
Hire purchase
Installment
Trading on credit basis

Which company is required to represent financial statements after every three, six
and twelve months to SECP and shareholders by Companies Ordinance 1984?
Select correct option:
Public Listed Company
Public Unlisted Company
Single Member Company
Private Unlisted Company
kamran.gul123: 1

The closing balance of inventory will be if: Opening inventory will Rs.1, 000,
purchases will Rs.10, 000 and cost of sales will Rs.10,500.
Select correct option:
Rs. 1,000
Rs. 500
Rs. 1,500
Rs. 950

Both future value and present value of a sum of money are based on:
Select correct option:
Interest Rate
Number of time periods
Both interest rate and number of time periods
Neither interest rate nor number of time period

Which of the following is the deduction or allowance allowed by a creditor to a


debtor?
Select correct option:
Trade Discount
Cash Discount
Purchases return
Sales return

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.

Which of the following IAS deals with Inventories?


Select correct option:
IAS 38
IAS 23
IAS 02
IAS 16
Which of the following is shown on the liability side of Balance Sheet?
Select correct option:
Discount on issue of shares
Premium on issue of shares
Preliminary expenses
Goodwill

Which of the fallowing is TRUE with respect to Liability?


Select correct option:
It is a present obligation of the entity arising from a past event the settlement of
which is expected to result in an outflow from the entity of resources embodying
economic benefits.
It is a past obligation of the entity arising from a future event the settlement of which
is expected to result in an outflow from the entity of resources embodying economic
benefits.
It is a present obligation of the entity arising from a past event the settlement of
which is expected to result in an inflow from the entity of resources embodying
economic benefits.
It is not a present obligation of the entity arising from a past event the settlement of
which is expected to result in an outflow from the entity of resources embodying
economic benefits.

Which of the following IAS covers the treatment & recognition of Contingent
Liabilities?
Select correct option:
IAS 33
IAS 37
IAS 38
IAS 39

What is reflected by the Memorandum of Association (MOA) of a company?


Select correct option:
Operating procedures of a company

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Objectives of a company
Decisions making process of a company
Working environment of a company

Question # 1 of 20 ( Start time: 12:18:26 AM ) Total Marks: 1


Which of the following is/are example(s) of development activities?
Select correct option:
The design of tools, jigs, moulds and dies involving new technology
The design, construction and testing of pre-production or pre-use prototypes and
models
The design, construction and operation of a pilot plant
All of the given options

Question # 2 of 20 ( Start time: 12:18:52 AM ) Total Marks: 1


Who issues International Accounting Standards?
Select correct option:
Board of International Standards on Auditing
International Accounting Standards Board
Institute of Chartered Accountants of Pakistan
Securities and Exchange Commission of Pakistan

Question # 3 of 20 ( Start time: 12:19:11 AM ) Total Marks: 1


Which of the following section of the Companies ordinance 1984 refers to the share
issued at discount?
Select correct option:
Section 83
Section 84
Section 85
Section 86
Question # 4 of 20 ( Start time: 12:19:55 AM ) Total Marks: 1
By recording depreciation in the books of accounts, what a company ensures about
the cost of non current assets which provide the benefit for their use in business?
Select correct option:
It is extending over the forecasted periods
It is extending over the accounting periods
It is extending over the tax periods
It is extending over the revenue periods

Question # 5 of 20 ( Start time: 12:20:20 AM ) Total Marks: 1

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Which of the following represents the claims of the owners against the assets of the
business?
Select correct option:
Assets
Expenses
Owners Equity
Income

How many person(s) is(are) required to takeover the business after the death of a
member in case of Single Member company?
Select correct option:
Seven
Three
Two
One

Question # 7 of 20 ( Start time: 12:21:22 AM ) Total Marks: 1


Which of the following is NOT an accounting concept?
Select correct option:
Prudence
Going concern
Depreciation
Matching

Question # 8 of 20 ( Start time: 12:21:51 AM ) Total Marks: 1


Which of the following is INCORRECT with respect to Periodic Inventory System?
Select correct option:
Receipt of inventory is debited to Purchase Account
Closing stock is recorded by debiting Stock Account and crediting Trading Account
Receipt of inventory is debited to Stock Account
No record is made for individual issue in the General Ledger

Question # 9 of 20 ( Start time: 12:22:09 AM ) Total Marks: 1


Both future value and present value of a sum of money are based on:
Select correct option:
Interest Rate
Number of time periods
Both interest rate and number of time periods

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Neither interest rate nor number of time period

Question # 10 of 20 ( Start time: 12:22:26 AM ) Total Marks: 1


If an item that meets the definition of an element is recognized:
Select correct option:
When it is possible that any future economic benefit linked with the item will flow to
or from the entity.
When the element has cost or worth that can be measured reliably
When entity obtains control of the rights or obligations linked with the item.
When there is probable that any future economic benefit linked with the item will
flow to or from the entity and the item has a cost or worth that can be measured
reliably

Question # 12 of 20 ( Start time: 12:23:08 AM ) Total Marks: 1


Which of the following is/are INCORRECT with respect to the Capital section of the
balance sheet for a sole-proprietorship?
Select correct option:
Opening Capital New Capital + Profit for the year = Closing Capital
Opening Capital New Capital + Loss for the year = Closing Capital
Opening Capital Loss for the year + Drawings = Closing Capital
All of the given options

Question # 13 of 20 ( Start time: 12:23:28 AM ) Total Marks: 1


Minimum Lease Payment = ------------.
Select correct option:
Initial Payments + Contingent rent Down Payments
Initial Payments + All lease rentals + Contingent rent
Initial Payments + Insurance paid by lessor and recovered from lessee + Any lease
processing charges
Initial Payments + All lease rentals + Any amount that is guaranteed to be paid
during or at the end of the lease term

Question # 14 of 20 ( Start time: 12:23:46 AM ) Total Marks: 1


Which one of the following expenses should be included in prime cost?
Select correct option:
Repairs to factory plant
Office salaries
Factory insurance
Direct production wages

MGT401 LATEST QUIZ SOLVED BY MASOOD KHAN


AFTER MIDTERM 1 TO 30 LEC 2012 JANUARY.
Question # 15 of 20 ( Start time: 12:24:05 AM ) Total Marks: 1
Accounting concept which presents non current assets should be valued at cost less
accumulated depreciation rather than their imposed sale-able value is the concept.
Select correct option:
Going Concern
Materiality
Accrual Basis
Prudence

Which type of lease is normally Not long term and transfers all the risks and rewards
of ownership?
Select correct option:
Finance lease
Operating lease
Sale & lease back
Hire Purchase Agreement

Question # 19 of 20 ( Start time: 12:25:21 AM ) Total Marks: 1


What is the treatment of Accumulated Depreciation in accounting?
Select correct option:
Treated as a reserve
Treated as a contra asset
Treated as a surplus
Treated as an expense
Question # 20 of 20 ( Start time: 12:25:46 AM ) Total Marks: 1
Which of the following investments are recorded using Equity Method?
Select correct option:
Investments made for longer period
Investments made for shorter period
Investments made for shorter and longer period
None of the given options