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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 - B
| Q. 1 | Advantages of Single-entry System |
| | A) | It is a simple method of recording business
transactions |
| B) | It is more costly than double entry systems | | C) | It facilitates the calculation of income but not
of financial position | | D) | It does not track asset and liability accounts | | | | | Q. 2 | EDI |
| | A) | A) Help in reducing delay |
| B) | B) Reduce paper cost | | C) | C) Reduce inventory cost | | D) | D) All of the above | | | | | Q. 3 | All ___ in assets and ___ in liabilities
represent the uses of funds |
| | A) | A) increases, decreases |
| B) | B) decreases, increases | | C) | C) decreases, decreases | | D) | D) increases, increases | | | | | Q. 4 | 1) External Consistency
2) Vertical Consistency
3) Horizontal Consistency
4) Third Dimensional Consistency
a) All units in the same industry follow the same accounting policies
b) The financial statements of one enterprise should be comparable with another
c) The same accounting policies are adopted while preparing inter-related statements of the same date
d) The same accounting policies are adapted from year to year
|
| | A) | 1-b, 2-c, 3-d, 4-a |
| B) | 1-c, 2-b, 3-d, 4-a | | C) | 1-b, 2-d, 3-c, 4-a | | D) | 1-b, 2-c, 3-a, 4-d | | | | | Q. 5 | The balance sheet equation indicates that |
| | A) | Sources of Fund = Uses of Fund |
| B) | Equities – Assets = 0 | | C) | Outside Liability = Assets – Proprietors’ Equity
(Capital) | | D) | All of the above | | | |
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