YOUTUBE CHANNEL: SURAJ PATEL EDUCATION
Management Accounts
S.Y.B.COM
IMPORTANCES QUESTION BANK
1) The shareholders fund consists of
a) only
preference
b) only equity
c) only reserves & surplus
d) preference & equity & reserves
ANS: D
2) Profit on sale of furniture is a _____income.
a) Operating Income
b) Non-operating Income
c) Operating Expenses
d) Operating Loss
ANS: B
3) Working capital is excess of Current Assets over _____.
a) Current Assets
b) Current Liabilities
c) Fictitious asset
d) Quick Liabilities
ANS: A
4) Current liabilities = _____ Current Assets
a) Current Liabilities
b) Working Capital
c) Tangible assets
d) Intangible assets
ANS: A
5) Operating profit = Gross profit – _____.
a) Operating Income
b) Non-operating Income
c) Operating Expenses
d) Operating Loss
ANS: C
6) Capital work in progress is _____ asset.
a) Fixed
b) Intangible
c) Quick
d) Tangible
ANS: A
7) Income statement is a
a) Statement of working Results
b) Statement of Sources of Funds
c) Statement of Cash Flow
d) Fund from operation
ANS: A
8) Face Value of a share is
a) Issue price of a share
b) Book value of a share
c) Market value of a share
d) Fixed dinomination of a share mentioned in the M/A
ANS: D
9) Authorized Capital is
a) Minimum capital the company can raise
b) Maximum capital that can be raised as per the M/A
c) Optimum capital that can be raised
d) Needed capital
ANS: B
10) General reserve is created out of
a) Profit
b) Income
c) Expenditure
d) Dividend received
ANS: A
11) Point out from the following which is not a secured loan
a) Public Deposits
b) Mortgage loan
c) Bank Overdraft on hypothecation n of stock
d) Debentures issue on floating charge
ANS: A
12) Fixed assets should be disclosed in Balance sheet as
a) Cost
b) Market Value
c) Cost or market value whichever is more
d) Cost or market value whichever is less
ANS: A
13) Live Stock is a
a) Current asset
b) Fictitious asset
c) Fixed assets
d) none of the above
ANS: C
14) Patents and copyrights is an
a) Intangible Asset
b) Movable Asset
c) Intangible fixed asset
d) Fictitious Assets
ANS: C
15) Goodwill is an
a) Intangible Asset
b) Fixed Asset
c) Intangible fixed asset having realizable value
d) Fictitious asset
ANS: C
16) Land and Building is a
a) Fixed tangible movable asset
b) Fixed intangible movable assets
c) Intangible asset
d) Fixed tangible Immovable asset
ANS: D
17) Capital Work in progress is disclosed under
a) Fixed asset
b) Current assets
c) Capita
d) Intangible assets
ANS: A
18) Underwriting commission is a
a) Tangible asset
b) Intangible asse
c) Fixed asset
d) Fictitious asset
ANS: D
19) Stock is a
a) Current asset
b) quick asset
c) fixed asset
d) fictitious asset
ANS: A
20) Bank Overdraft is not a
a) Quick Liability
b) Current Liability
c) Urgent Liability
d) Liability
ANS: A
21) Gross Profit is
a) Excess of sales over total cost
b) Excess of sales over cost of goods sold
c) Excess of sales over purchase
d) Excess of sales over cost of Materials
ANS: B
22) Staff salary is an
a) Operating Expenditure
b) Operating Income Non
c) Operating Expenditure
d) Capital Expenditure
ANS: A
23) ______ is a proportion between two figures.
a) Long term
b) Ratio
c) Turn Over
d) Liquidity
ANS: B
24) One figure is divided by another figure to get _____ ratio.
a) Balance Sheet
b) Pure
c) Current Assets
d) Opening stock
ANS: B
25) Current Ratio = ______ / Current Liabilities.
a) Long term
b) Proprietors Fund
c) Current Assets
d) Liabilities
b) only equity
c) only reserves & surplus
d) preference & equity & reserves
ANS: D
2) Profit on sale of furniture is a _____income.
a) Operating Income
b) Non-operating Income
c) Operating Expenses
d) Operating Loss
ANS: B
3) Working capital is excess of Current Assets over _____.
a) Current Assets
b) Current Liabilities
c) Fictitious asset
d) Quick Liabilities
ANS: A
4) Current liabilities = _____ Current Assets
a) Current Liabilities
b) Working Capital
c) Tangible assets
d) Intangible assets
ANS: A
5) Operating profit = Gross profit – _____.
a) Operating Income
b) Non-operating Income
c) Operating Expenses
d) Operating Loss
ANS: C
6) Capital work in progress is _____ asset.
a) Fixed
b) Intangible
c) Quick
d) Tangible
ANS: A
7) Income statement is a
a) Statement of working Results
b) Statement of Sources of Funds
c) Statement of Cash Flow
d) Fund from operation
ANS: A
8) Face Value of a share is
a) Issue price of a share
b) Book value of a share
c) Market value of a share
d) Fixed dinomination of a share mentioned in the M/A
ANS: D
9) Authorized Capital is
a) Minimum capital the company can raise
b) Maximum capital that can be raised as per the M/A
c) Optimum capital that can be raised
d) Needed capital
ANS: B
10) General reserve is created out of
a) Profit
b) Income
c) Expenditure
d) Dividend received
ANS: A
11) Point out from the following which is not a secured loan
a) Public Deposits
b) Mortgage loan
c) Bank Overdraft on hypothecation n of stock
d) Debentures issue on floating charge
ANS: A
12) Fixed assets should be disclosed in Balance sheet as
a) Cost
b) Market Value
c) Cost or market value whichever is more
d) Cost or market value whichever is less
ANS: A
13) Live Stock is a
a) Current asset
b) Fictitious asset
c) Fixed assets
d) none of the above
ANS: C
14) Patents and copyrights is an
a) Intangible Asset
b) Movable Asset
c) Intangible fixed asset
d) Fictitious Assets
ANS: C
15) Goodwill is an
a) Intangible Asset
b) Fixed Asset
c) Intangible fixed asset having realizable value
d) Fictitious asset
ANS: C
16) Land and Building is a
a) Fixed tangible movable asset
b) Fixed intangible movable assets
c) Intangible asset
d) Fixed tangible Immovable asset
ANS: D
17) Capital Work in progress is disclosed under
a) Fixed asset
b) Current assets
c) Capita
d) Intangible assets
ANS: A
18) Underwriting commission is a
a) Tangible asset
b) Intangible asse
c) Fixed asset
d) Fictitious asset
ANS: D
19) Stock is a
a) Current asset
b) quick asset
c) fixed asset
d) fictitious asset
ANS: A
20) Bank Overdraft is not a
a) Quick Liability
b) Current Liability
c) Urgent Liability
d) Liability
ANS: A
21) Gross Profit is
a) Excess of sales over total cost
b) Excess of sales over cost of goods sold
c) Excess of sales over purchase
d) Excess of sales over cost of Materials
ANS: B
22) Staff salary is an
a) Operating Expenditure
b) Operating Income Non
c) Operating Expenditure
d) Capital Expenditure
ANS: A
23) ______ is a proportion between two figures.
a) Long term
b) Ratio
c) Turn Over
d) Liquidity
ANS: B
24) One figure is divided by another figure to get _____ ratio.
a) Balance Sheet
b) Pure
c) Current Assets
d) Opening stock
ANS: B
25) Current Ratio = ______ / Current Liabilities.
a) Long term
b) Proprietors Fund
c) Current Assets
d) Liabilities
ANS: C
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