2/23/2020 19.01.

2020_MBA 12 SEC A_FA_QUIZ-2: Attempt review

Dashboard / My courses / mba12a / General / 19.01.2020_MBA 12 SEC A_FA_QUIZ-2

Started on Sunday, 19 January 2020, 10:07 AM

State Finished
Completed on Sunday, 19 January 2020, 10:15 AM
Time taken 8 mins 30 secs
Grade 9.00 out of 10.00 (90%)

Question 1 “Losses results in an increase in the owner’s equity” indicate whether it is

Correct

Mark 1.00 out of Select one:

1.00
a. True

b. False 

c. Can’t say

The correct answer is: False

Question 2 Which of the following statement is ture under Accrual Accounting system
Correct

Mark 1.00 out of Select one:

1.00
a. revenue is considered when received

b. revenue is considered when earned 

c. expenses are considered when paid

d. all othe above

The correct answer is: revenue is considered when earned

Question 3 Depreciation results into reduction in the value of the asset?

Correct

Mark 1.00 out of Select one:

1.00
a. False

b. True 

The correct answer is: True

Question 4 Net worth is the combination of

Correct

Mark 1.00 out of Select one:

1.00
a. Share Capital

b. Share Capital plus dividents

c. Share capital plus retained profits 

d. None of the above

The correct answer is: Share capital plus retained profits

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Question 5 As per the double entry concept, which of the following is correct
Correct

Mark 1.00 out of Select one:

1.00
a. Assets + Liabilities = Equity

b. Equity = Assets – Liabilities 

c. Equity – Liabilities = Assets

d. Equity + Assets = Liabilities

e. All of the above

The correct answer is: Equity = Assets – Liabilities

Question 6 Which of the following is not a fixed asset

Incorrect

Mark 0.00 out of Select one:

1.00
a. Building

b. Trade Receivables

c. Plant

d. Patents

e. Goodwill 

The correct answer is: Trade Receivables

Question 7
Based on the Balance Sheet equation, calculate the value of Total Assets = ___________; Given Share Capital as Rs.25000;
Correct Retained earnings as Rs52000; Long term borrowings as Rs.23000; Accounts payables Rs 17000;
Mark 1.00 out of
1.00 Select one:
a. 117000 

b. 103000

c. 100000

d. 114000

The correct answer is: 117000

Question 8 From the given Assets = Rs. 375000; If the total Liabilities are Rs.155000, Contributed capital is Rs 105000; then Retained
Correct Earnings ______________
Mark 1.00 out of
1.00 Select one:
a. 105000

b. 115000 

c. 110000

d. 220000

The correct answer is: 115000

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Question 9 Which of the following are/is a current asset?

Correct

Mark 1.00 out of Select one:

1.00
a. Accounts Receivables

b. Inventory

c. Prepaid insurance

d. Both (a) and (b) above

e. All  (a), (b) and (c) 

The correct answer is: All  (a), (b) and (c)

Question 10 Which of the following item is an intangible asset

Correct

Mark 1.00 out of Select one:

1.00
a. Plant and machinery

b. Furniture

c. Coal mines

d. Copyrights 

e. None of the above

The correct answer is: Copyrights

◄ 19.01.2020_MBA12_SEC 18.01.2020_MBA 12 SEC A_FA_QUIZ-1

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