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Financial Management & Accounting


This is the collection of Sikkim Manipal University (SMU) question and answers for Financial Management & Accounting. It will help to prepare your examination. All question paper are classified as per semester, subject code and question type of Part A, Part B and Part C with multiple choice options as same as actual examination. SMU question papers includes year 2025, 2024, 2023 Sem I, II, III, IV, V, VI examinations of all subjects.

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Course Name        MCA (Master of Computer Application)

Subject Code       MC0065 (Financial Management & Accounting)

Get Questions        PART - A    PART - B    PART - C

Subject : Financial Management & Accounting

     MC0065 : PART - A    


Q. 1A separate record for each type of asset, liability, equity, revenue, and expense used to show the beginning balance and to record the increases and decreases for a period and the resulting ending balance at the end of a period is ___
 A)Ledger
 B)Account
 C)Journal
 D)All of the above
   
Q. 2Creditors on accounts is _______
 A)A) Liability
 B)B) Asset
 C)C) Both A) and B)
 D)D) None of the above
   
Q. 3Annual Depreciation Expense =
 A)Accounting cost less estimated salvage value / Estimated life in years
 B)Accounting cost plus estimated salvage value / Estimated life in years
 C)Accounting cost less estimated salvage value * Estimated life in years
 D)Accounting cost plus estimated salvage value * Estimated life in years
   
Q. 4If the drawee of the bill accepts the bill without any condition, the acceptance is known as ___
 A)A) General Acceptance
 B)B) Qualified Acceptance
 C)C) Draft
 D)D) None of the above
   
Q. 5______ records only those transactions and events in the terms of money
 A)A) Recording
 B)B) Classifying
 C)C) Summarizing
 D)D) Dealing with financial transactions
   
Q. 6___ is the common unit, which enables various items of diverse nature to be summed up together and dealt with
 A)A) Money
 B)B) Capital
 C)C) Funds
 D)D) All of the above
   
Q. 7_____ means to believe
 A)A) Credit
 B)B) Debit
 C)C) Asset
 D)D) Liability
   
Q. 8A worksheet listing of all the accounts appearing in the general ledger with the dollar amount of the debit or credit balance of each is ________
 A)A) Posting
 B)B) Narration
 C)C) Trial Balance
 D)D) Journal
   
Q. 9Need for Bank Reconciliation Statement arises out of:
 A)Cheques issued to the supplier not yet presented for payment
 B)Cheques deposited into the bank for collection and entered in the cash book, but not collected by the bank
 C)Both A) and B)
 D)None of the above
   
Q. 10Expected losses should be accounted for but not anticipated gains is the working rule of convention of ___
 A)A) Materiality
 B)B) Conservatism
 C)C) Consistency
 D)D) Full Disclosure
   
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