STUDENT NAME-NIKHIL ADAGALE

Manegerial Accounting and Financial Management

Item Text Option Text 1 Option Text 2 Option Text 3 Option Text 4
A Person to whom we are liable to pay against credit purchases is our Debtor Creditor Customer Banker
The left hand side of a Ledger Account is called Front Back Credit Debit
The expenses made by the business are always Debited Credited Added Deducted
Plant and Machinery of a Business is Liability Asset Loss Income
Salary paid to Mr Ram in cash will be debited to Ram A/c Capital A/c Salary A/c Cash A/c
Ledger Account is always divided into ………. Sides Three Four five Two
Hospital Building is ……………… Account Bank Personal Real Nominal
If the total of a Debit side of an Account is greater than credit side, the account will show Nil Debit Credit Negative
………………… balance
P's Capital Account is -------------- Account Personal Nominal Real Asset
Cash Book is used to record all receipts & Payments by Cheque Demnd Draft Cash Promissory Note
Cash Deposited into Bank . In Two column cash Book it is……Entry Journal Single Double Contra
Trial Balance ensures ……………… accuracy but not Accounting accuracy Arithmatical Geometrical Scientific
Trial Balance is Prepared after preparing Trading And Profit & Loss A/c True 0
……………….Cost is changed in direct Proportion to the Quantity of prodution Fixed Variable Semi Veriable Prime Cost
Excess of Current Assets Over Current Liabilities is known as Gross Working Capital Net Working Capital Negative Working Permanent Working
Capital Capital
A share in a Profit at fixed percentage per share is Known as ………….. Interest Dividend Commission Bonus
Undistributed Portion of Profit of Limited Company is Shown in Balance Sheet under the Reserves & Surplus Current Liability Fixed Asset Secured Loans
heading
Gross Profit or Loss From Trading A/c is Transferred to Profit And Loss A/c Balance Sheet Capital A/c
The Debit and Credit Column Total of a Trial Balance should always be Different Equal Plus Minus
………………… is a Process of Transferring journal entry amounts to Ledger A/c Casting Balancing Posting Journalising
Break-even Point is a Position Of Business which shows Loss Profit No Profit- No Loss Net Worth
Asset Accounts normaly Shows …………….Balances Minus Plus Credit Debit
Returned Outward will be placed in ……………….column of Trial Balance Debit Credit Both
Discount which is allowed or received while making/receiving Payment is……….. Cash Discount Trade Discount Complimentary Present
Discount
Owners Drawings from the business for personal use are deducted from Income Profit Assets Capital A/c
………………..is reputaion of a business valued in terms of money Goodwill Trade name Brand name Assets
In Double entry book keeping systeam of accounting every transaction has …………… effect Single Thrise Dual

Each transction has atleast …………………. Accounts One Two Three Four
Which column of a Journal is used for writing page number of a Ledger Date Particulars Ledger Folio/L.F Amount
Which account is debited when wages are paid to workers for errection of machinery? Wages Machinery Salary Labour Charges
A brief explaination of a transaction written in journal is known as Narration Particulars Account head Journal Entry
Cash Account always show ---------- balance Credit Debit Nil Minus
Goods returned by our customer are recorded in Purchase Register Sales Register Sales return book Purchase return
book
Credit Purchase of furniture for our office use is recorded in Purchase book Sales Book Journal book Cash book
A written information of giving a Debit to our client Account Debit Note Credit Note Quotaion Estimate
Deduction of a total of oneside of a ledger account from another side of a same ledger Totalling Adding Deducting Balancing
account is called
A Saperate Book Maintained for recording paymet of small, miscellaneous amounts of day t Credit Book Debit Book Petty Cash Book Cash Book
day expenses
A Cheque Marked with Two parallal Lines on face of it is Bearer Cheque Crossed Cheque Banker Cheque Managers Cheque
A Payment made by us by Cheque will be recorded to the payment side of cash book but in Bank Column Cash Column Discount Column L F Column
which column
When Bank column of a cash book in our books shows credit balance it indiacates Term Loan Advance Bank Overdraft none of the above
Closing Stock of Material at the end of financial year is valued at Cost Price Market Price Cost or Market Sale Price
Price Whichever is
less
Amount paid by us in advance for next years expenses are known as Prepaid Expenses Recurrig expenses Miscellaneous ex outstanding
penses expenses
Expenses incurred by our business but not yet paid at the close of financial year Recurrig expenses Prepaid Expenses outstanding Miscellaneous ex
expenses penses
An amount received from our customer for services rendered by us towads him is our Income Loss Expenses Profit
The Account witch deals with the inflow and out flow of goods in monetory terms is Income And Trading Account Profit and Loss A/c suspense A/c
Expenditure Account

Depreciation on Assets used by business is debited to Asset Account Manufactring A/c Trading Account Profit and Los A/c
Capital Received by the Business from Owners is always business………. Asset Expenses Income Liability
Balance Sheet is a Statement of ………………………….as on particular date Asset & Liabilities Income & Expense Receipt&Payments Profit & Loss

Loans Taken by the Business and which are Guaranteed for Repayment By Creating a Charge Securred Loans Unsecured Loans Overdrafts Cash Credits
on our business assets are
An amount which is paid and consumed fully Income Expense Assets Liability
Manufacturing , Trading , Profit & Loss A/c, & Balance sheet all together are Known as Final Accounts Cost accounting Management
Accounting
The relationship of Gross Profit on sales to Net Sales in terms of percentage. Net Profit Ratio Gross Profit Ratio Expenses Ratio Operating Ratio
…………………………is sanctioned to industries in order to enable them to tide over the delay Short Term Finance Long Term Finance Bridge Finance Term finance
which occures in sanctioning loans by development banks.
In a Break-Even Point Chart As the Angle of incidence becomes wider after BEP means Profit Increasing Decreasing No Change Average
goes on ….
A financial and or Quantitative statement prepared prior to a defined period of time for the Estimate Budget Quotation statement
policy tobe persued and attaining a given objective is………….
Business is considered as unit or entity apart from its Owners, Creditors, Managers and Measurement Disclosure Concept Going on Concept Entity Concept
others. This concept is……………….. Concept
Wages appearing in Trial Balance are shown in………….. No Where Balance Sheet Manufacturing/ Profit & Loss A/c
Trading A/c
Total Sales are Rs 60,000/-. Breakeven Sales are Rs 33,000/- What is the Margin of Safty ? Rs 93,000 Rs 27,000/- Rs 1,20,000/- Rs 16,500

Sales Return is also Known as……… Return Outward Return Inward Return Outside Return
The process of recording transaction in Journal book means Journalising Posting Casting Balancing