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Financial Management & Accounting
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Course Name
MCA (Master of Computer Application)
Subject Code MC0065 (Financial Management & Accounting)
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PART - A
PART - B
PART - C
Subject : Financial Management & Accounting
MC0065 : PART - A
Q. 1 | A 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. 2 | Creditors on accounts is _______ |
| A) | A) Liability |
| B) | B) Asset | | C) | C) Both A) and B) | | D) | D) None of the above | | | | Q. 3 | Annual 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. 4 | If 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. 8 | A 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. 9 | Need 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. 10 | Expected 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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