Capital increases if ______
1.cost increases
2. Expenses increases
3.Revenue increases
4.Interest on capital increases
Posted Date:-2024-01-24 17:59:02
Cash flow is also known as _____
1.balance sheet flow
2.profit and loss account
3.fund flow statement
4. notes and schedules
Posted Date:-2024-01-24 17:56:29
Current assets minus current liabilities is equal to ______
1.losing capital
2.gaining capital
3.fixed capital
4. working capital
Posted Date:-2024-01-24 17:59:28
Financial accountancy is governed by ____
1.local standards only
2.international standards
3.local as well as international accounting standards
4. company’s internal top management only
Posted Date:-2024-01-24 17:46:15
Financial accounting cover overall performance of the _______
1.Competitors
2.Market
3.Company
4.Finance department
Posted Date:-2024-01-24 17:50:09
Financial accounting provides accounting information to the ________ though the information is useful for internal purposes also.
1.external users
2.internal users
3.company
4.competitors
Posted Date:-2024-01-24 17:49:03
Financial accounting reports include _____
1.profit and loss account
2.directors report
3.balance sheet and auditors report
4. all of the above
Posted Date:-2024-01-24 17:49:45
Financial accounting reports lay greater emphasis on the _______
1.objectivity of data
2.Flexibility of data
3.Relevancy of data
4. Subjectivity of data
Posted Date:-2024-01-24 17:51:00
Financial accounting reports to the ________ after the completion of the accounting year.
1. internal management
2. external parties
3.Media
4.rivals
Posted Date:-2024-01-24 17:49:21
Financial accounting statements are subject to ______
1.Cost audit
2. Forensic audit
3.Statutory audit
4.Non statutory audit
Posted Date:-2024-01-24 17:52:39
Notes and schedules include disclosures about the risk and uncertainties affecting the enterprise and such items as disclosure of _______
1. accounting policies segment reports
2.report of operations in the process of discontinuation
3. Both A & B
4.None of the above
Posted Date:-2024-01-24 17:58:17
Notes and schedules is used to present supplementary information explaining different items of financial statements.
1. balance sheet flow
2.profit and loss account
3.fund flow statement
4. notes and schedules
Posted Date:-2024-01-24 17:57:23
Presentation of of financial accounting reports is mandatory under the provisions of of section 209 (1), 210 (1) and 216, 217 of _____
1. the business act 1956
2. the companies act 1956
3. the company act 1965
4. the company 2016
Posted Date:-2024-01-24 17:51:33
Select the correct answer.
1.financial accounting reports generally govern accepted accounting principles
2.Generally accepted accounting principles governing financial accounting reports
3.Generally accepted accounting principles does not governing financial accounting reports
4.There is no relation between Generally accepted accounting principles and financial accounting reports
Posted Date:-2024-01-24 17:52:12
The annual reports are to be prepared and published for circulation among the external end users such as __________
1.Company, competitors, contributors and colleagues
2.Customers. creators, collaborators and contractors
3.Government, competitors, owners and top management
4.shareholders, investors, bankers, debenture holders and creditors
Posted Date:-2024-01-24 17:53:38
The overriding purpose of financial accounting is to summarize financial activity in business in the ______
1.profit and loss statement
2. balance sheet
3.cash flow statement
4.all of the above
Posted Date:-2024-01-24 17:48:12
Trademark, Copyrights & Patents are _____ assets.
1.Intangible
2.Fixed
3.Current
4.Tangible
Posted Date:-2024-01-24 17:58:40
Which is not a benefit of financial accounting?
1.Maintaining systematic records
2. Protecting and safeguarding business assets
3.Historical in nature
4. Facilitates rational decision making
Posted Date:-2024-01-24 17:47:09
Which is not a limitation of financial accounting?
1. Inadequate information to fix up the price of products manufactured
2. Lack of data for comparison of cost of operation of the firm with other firms in the industry
3. The data available is historical in nature
4.Complies with the various legal requirements
Posted Date:-2024-01-24 17:47:40
_ is not a primary source of long-term debt financing.
1.Accounts payable
2.Notes payable
3.Leases
4.Bonds
Posted Date:-2024-01-24 17:56:05
_ is used to analyse the pattern of movement or activity during the period to identify the way the enterprise has generated cash and the way they have been used in an accounting period.
1.Balance sheet
2.Cash flow
3.Profit & Loss a/c
4. income statement
Posted Date:-2024-01-24 17:56:55
__ helps to find out the profit made on loss sustained in a particular accounting period through transactions and events.
1.Income statement
2.Profit and loss account
3.Trading account
4. None of the above
Posted Date:-2024-01-24 17:55:38
__ is a structured representation of the financial performance and financial position of a business and changes over a period of time.
1.Profit and loss account
2. Financial statement
3. Balance sheet
4. Internal audit
Posted Date:-2024-01-24 17:54:03
___ can also be referred to as a tangible asset.
1.liquid asset
2.fixed asset
3.current asset
4. other asset
Posted Date:-2024-01-24 17:59:52
___ is a specialised branch of accounting that keeps track of a company’s financial transactions.
1.Cost accounting
2. Management accounting
3. Financial Accounting
4.Corporate accounting
Posted Date:-2024-01-24 17:45:46
___ is a written evidence in support of a business transaction.
1.Ledger
2.Voucher
3.Ledger Posting
4.Journal
Posted Date:-2024-01-24 17:57:48
___ is the scope of financial accounting.
1.Collection and processing of data
2.Verifying or auditing data
3.Publishing data
4.All of the above
Posted Date:-2024-01-24 17:46:40
____ explain the financial position of the reporting entity at the end of the accounting period.
1.Balance sheet
2.Income statement
3.ledger
4.Notes & schedules
Posted Date:-2024-01-24 17:55:01
_______ are the basis of the business’s financial accounting.
1. Accounting records
2.Bookkeeping
3.Sales Volume
4. Both A & B
Posted Date:-2024-01-24 17:48:36
________ are the components of financial statements.
1.profit and loss account and balance sheet
2.cash flow and fund flow statement
3. notes and schedules
4.All of the above
Posted Date:-2024-01-24 17:54:35