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Financial and Management Accounting
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Course Name
MBA (Master of Business Administration)
Subject Code MB0025 (Financial and Management Accounting )
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PART - A
PART - B
PART - C
Subject : Financial and Management Accounting
MB0025 : PART - C
| Q. 1 | The functions of Management Accounting are:
1. Formulating a business plan
2. Fixing of the responsibility at various levels in the
implementation of the plan
3. Organizing which comprises arranging the scarce
resources of the enterprise in a manner designed to
achieve the goals of the plan
4. Controlling performance which means checking actual
results with planned results and instituting corrective
action in case of deviation from planned results |
| | A) | 1, 2 and 4 |
| B) | 2, 3 and 4 | | C) | 1, 2 and 3 | | D) | All of the above | | | | | Q. 2 | State the True points with respect to Semi-variable
or Semi-fixed costs:
1. These costs are partly variable and partly fixed
2. They have both fixed and variable elements
3. Semi-fixed costs remain constant up to certain level of
output and after that level they become variable
4. Semi-variable cost is basically variable but its degree
of variability changes suddenly when a certain level of
output is reached
5. Sometimes they are called mixed costs or step costs |
| | A) | 1, 2, 3 and 4 |
| B) | 2, 3, 4 and 5 | | C) | 1, 2, 3 and 5 | | D) | All of the above | | | | | Q. 3 | Different Names of Fund Flow Statements are:
1. A Funds Statement
2. A statement of sources and uses of fund
3. A statement of sources and application of fund
4. Where got and where gone statement
5. Inflow and outflow of fund statement |
| | A) | 1, 2, 3 and 4 |
| B) | 2, 3, 4 and 5 | | C) | 1, 2, 3 and 5 | | D) | All of the above | | | | | Q. 4 | From the following details calculate fund from
operations:
Rs.
Opening balance of Profit & Loss A/c 25,000
Salaries 5,000
Discount on issue of debentures 2,000
Rent 3,000
Provision for bad debts 1,000
Transfer to G. Reserve 1,000
Refund of Tax 3,000
Profit on sale of building 5,000
Depreciation on plant 5,000
Preliminary exp. written-off 2,000
Goodwill written-off 3,000
Loss on sale of plant 2,000
Provision for tax 4,000
Dividend received 5,000
Closing balance of Profit & Loss A/c 60,000
Proposed Dividend 6,000 |
| | A) | 35,000 |
| B) | 48,000 | | C) | 61,000 | | D) | 86,000 | | | | | Q. 5 | The various Basic Accounting Concepts are:
1. The Entity concept
2. Money Valuation Concept
3. The Cost Concept
4. The Going Concern Concept
5. The Periodicity Concept
6. The Accrual Concept
7. The Realization Concept |
| | A) | 1, 2, 3, 4, 5 and 6 |
| B) | 2, 3, 4, 5, 6 and 7 | | C) | 1, 3, 4, 5, 6 and 7 | | D) | All of the above | | | |
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