mgt101 solved Quizs

__________ is used to record transactions that do not affect cash or bank.
Payment voucher
Receipt voucher
Journal voucher PG83
All of the given options

Which one of the following item will appear on the balance sheet of a company as current
assets?
Prepaid expenses
.
Outstanding expenses
.
Furniture and equipment
.
Provision for depreciation

If bank statement shows a credit balance, it means __________balance for bank book.
.
Favorable
.
Unfavorable
.
Overdraft
.
None of the given options

Formula for Earning per Share is_______
.
Market value per share / Earning per share
Net profit after tax before appropriation / Number of shares 273
.
Operating Profit before financial charges / Financial charges
.
None of the given options



Liquidity is defined as:
.
The amount of cash to liquidate
.
The funds available for use
.
The ability of business to receive its cash
.
The ability of a business to pay its debts in time 235

Cash flow from operating activities is generated from:
.
The cash receipts and payments that arise from Fixed and Long Term assets
of the organization.
.
Cash generated from daily operations of organization
The cash receipts and payments that arise from Owners of the business and
other long term liabilities of the organization
None of the given options

Accumulated Profit & Loss is an example of:
.
Distributable reserves
.
Non distributable reserves
.
Both Distributive and non distributive reserve
.
None of the given options

According to________________, Fixed assets revaluation reserve is included in the
statement of changes in equity.
.
International Accounting Standards
.
Companies Ordinance

International Standards of Auditing
.
None of the given options
According to International Accounting Standards, fixed assets revaluation reserve is
included in the statement of changes in equity.

Share premium can be utilized:
.
To create non distributive reserves
.
To issue bonus shares
To increase the Owners Capital
.
To meet unexpected losses
Notes to the accounts explain which of the followings:
.
Nature of business of the company
.Accounting Policies of the company
.Details and explanation of items given in the Profit and Loss Account and
Balance Sheet
.All of the given options



Mark up ratio is better for:
.
Bankers
.
Debtors
.
Creditors
.
Owners