Accounting and Finance for Services

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SEMESTER - 3

ACCOUNTING AND FINANCE FOR SERVICES

(AFS)

MCQS - 2 DECEMBER 2021

1. 300 rooms available in a hotel for a day. During the year, 86,400 rooms days occupied. Calculate occupancy rate for the year, assuming 360 days in a year. 

A. 70% 

B. 90% 

C. 100% 

D. 80% 

2. From the given information, calculate Revenue per available Room. No. of rooms occupied: 700 rooms, Average room rate: Rs.900, No. of days: 60 and Average occupancy rate: 87.50%. 

A. Rs.900 

B. Rs.612.5 

C. Rs.787.5 

D. Rs.1028.57 

3. Shivaji Hospital has made available the information: Income received Rs.12,63,000; Variable expenses Rs.6,15,000; Fixed Expenses Rs.3,04,000; No. of patient days 10,000. Find out Contribution per Patient Day. 

A. Rs. 81.80 

B. Rs. 64.80   

C. Rs. 81.50 

D. Rs. 111.06 

4. Hotel Rang Inn planning to arrange a banquet for 250 persons. It is estimated that total cost will be Rs.900 per head, of which Rs.490 will be food cost. Management wants to earn profit @ 10% of total takings. Compute food cost as a percentage of sales. 

A. 41%  

B. 90%  

C. 49%  

D. 75%  

5. The details of Jiva hospital for a financial year are: Total Operating Cost Rs.15,00,000 and Desired Profit at 20% on Total Takings. Calculate Total takings.

A. Rs.18,75,000 

B. Rs.25,00,000 

C. Rs.30,00,000 

D. Rs.50,00,000 

6. Calculate rent to be charged per room day for a nursing home using the given information. 40 Rooms, 80% occupancy ratio, days in month - 30 days, total cost of nursing home Rs.4,68,000 per month and margin 20% on desire taking. 

A. Rs.609.375 

B. Rs.608.47 

C. Rs.780.25 

D. Rs.609.150 

7. When a patient goes to a hospital just for diagnosis; treatment or therapy and then leave the hospital without staying overnight, the patient is called 

A. Inpatient 

B. Outpatient 

C. Media 

D. Nurse 

8. Hotel Green arranged a banquet for 400 persons. It was estimated that the total food cost will be Rs. 50,000, additional cost of staff will be Rs.15,000 and overhead could be allowed for at 22.5% of sales. What charges per guest should be made to produce a net profit of 12.5%? 

A. Rs.350  

B. Rs.550 

C. Rs.250 

D. Rs.650 

9. If the ALOS of the Lifelong Hospital was 3.9 days in the year 2020-21 and 3.4 days in the year 2019-2020. What does it signify in the year 2020-21? 

A. The efficiency of hospital is the same 

B. The efficiency of hospital has gone up 

C. The efficiency of hospital has gone down 

D. The efficiency of hospital has doubled than the last year 

10. Total taking of a hotel is Rs.60,40,000, No. of Rooms available are 600 and Occupancy rate is 80%, days in a year are 360. Calculate tariff per day per room. 

A. Rs.35.89 

B. Rs.34.95 

C. Rs.36 

D. Rs.37 

11. The sum of value of work certified and work uncertified appearing in the contract account is called 

A. Work Completed 

B. Work in Process 

C. Work in Progress 

D. Work done 

12. Find the profit or loss of Games Department using the given information. Membership fees Rs.9,000, rental of tennis court Rs.4,000, salary (tennis court employees) Rs.2,000, repairs & maintenance (Game Department) Rs.1,000, laundry of bedsheets Rs.500 and Golf car batteries Rs.3,000.

A. Rs.7,000 (Profit) 

B. Rs.4,000 (Profit) 

C. Rs.1,500 (Loss) 

D. Rs.6,500 (Profit) 

13. Which one of the following methods of costing is used by Healthcare Industry for ascertaining the cost of rendering services? 

A. Unit Costing 

B. Operation Costing 

C. Multiple Costing 

D. Operating Costing 

14. The details for General ward of a heart hospital are: Number if beds 20, Occupancy rate for 300 days 90% and Occupancy rate for rest of the year 80%. Compute Patient Days assuming 365 days in year. 

A. 6,840 patient days 

B. 16,500 patient days 

C. 6,440 patient days 

D. 50,000 patient days  

15. If percentage of completion of incomplete contract is 46%, Notional profit is Rs.6,00,000, Cash received is Rs.10,00,000 and Work certified is Rs.50,00,000. How much profit to be transferred to Profit and loss A/c? 

A. Rs.25,000 

B. Rs.40,000 

C. Rs.50,000 

D. Rs.80,000 

16. According to Guinness Book of World Records, the oldest hotel in operation is_______. 

A. Nisiyama Onsen Keiunkan 

B. Sunroute Plaza Shinjuku  

C. Narita Tobu Hotel 

D. Nikko Narita 

17. If percentage of work completion 100%, the amount of profit to be transferred to profit and loss account is 

A. Estimated profit 

B. 2/3 of NP (CR/WC) 

C. 1/2 of NP (NP/WC) 

D. Full profit 

18. As per RERA Act 2016, ________ % of the collected amount from buyers must be deposited in an escrow bank account. 

A. 50% 

B. 70% 

C. 75% 

D. 90% 

19. Which one of the following Entries appears in the bottom portion of Visitors/Guest ledger? 

A. Room charges 

B. Laundry Charges 

C. Goods and Service Tax 

D. Allowances granted 

20. ______ deals with security of guests and their properties as well as of the hotel properties. It also has a responsibility for managing disaster such as fire and natural calamity. 

A. Finance and Accounts Department 

B. Administration Department   

C. Housekeeping Department 

D. Safety and Security Department 

21. Other things being remain same, Decrease in Variable cost will _______ BEP and Decrease in Selling Price will _______ BEP. 

A. Increase, Decrease 

B. Increase, Increase 

C. Decrease, Increase 

D. Decrease, Decrease 

22. Diamond design Lab has agreed to develop a software for payroll system in the Sun Pharma Ltd. Sun pharma pays the Diamond design Lab after completing every successful step of development. Which one suitable method Diamond Lab should select for revenue recognition? 

A. Franchising contract method 

B. Proportionate completion contract method 

C. When the product is finally Installed 

D. After testing the product 

23. Which of the following is not an income element of Pathology Department? 

A. Molecular Tissue Serology 

B. Serum/Plasma Testing  

C. Blood Test  

D. Physiotherapy 

24. Information Technology & Information Technology enabled Services (IT & ITeS), include 

A. Library 

B. Interpreting 

C. Consulting   

D. Accountancy 

25. ________ in contract empowers a contractor to revise the price of a contract if increase in prices of inputs due to some macro-economic or other agreed reasons. 

A. Manpower 

B. Government partnership 

C. Escalation Clause 

D. Ordinary clause

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