CORPORATE ACCOUNTING - MCQS MARCH 2013

S.Y B.COM

SEMESTER - 4

CORPORATE ACCOUNTING

(CA)

MCQS - MARCH 2013 

1. The formula to calculate price-Earning Ration is ______

(A) 100/normal Rate of Return 

(B) Normal Rate of Return/100

(C) Profit available to equity shareholders/Number of equity shares

(D) Net assets available to equity shareholders/Number of equity shares

2. With respect to Final Accounts of Joint Stock Companies, Licenses will be recorded under the head ______in the Balance Sheet.

(A) Non Current Assets, in Fixed Assets as Tangible Fixed Asset

(B) Non-Current Assets, in Fixed Assets as Intangible Fixed Assets

(C) Non-Current Assets, in fixed Assets as Capital work-in-progress

(D) Non-Current Assets, in Fixed Assets as intangible Asset under development

3. Capital Employed is calculated as_______

(A) Trading Assets - External Liabilities

(B) Trading Assets + Fictions Assets + Goodwill

(C) Trading Assets + Goodwill - External Liabilities

(D) Debentures + Banks Loan + Current Liabilities.

4. In which of the following.

Value of Goodwill = Average annual super profit/Normal rate of Return X 100

(A) Super Profit Method 

(B) Annuity Method

(C) Simple Profit Method 

(D) Capitalization of Super Profit Method

5. Which of the following is not the method of valuation of shares?

(A) Super Profit Method 

(B) Intrinsic value method

(C) Fair Value Method 

(D) Yield Method

6. Claims against the Company not acknowledged as debt will be recorded under the ______head.

(A) Finance Costs 

(B) Contingent Liabilities

(C) Employee Benefit Expenses 

(D) Long-term Borrowings

7. As per Revised Schedule III, any item of income or expenses which exceeds_______% of the revenue from operations or ₹ _____, whichever is higher, is required to be disclosed separately.

(A) 1%, ₹ 1,00,000 

(B) 1%, ₹ 10,000

(C) 2%, ₹ 1,00,000 

(D) 1%, ₹ 5,000

8. What will be the value of share as per Yield method [dividend basis] if expected rate of dividend is 12%, normal rate of dividend is 10% & Paid up value of equity share is ₹10?

(A) ₹ 10 

(B) ₹ 12 

(C) ₹ 15 

(D) ₹ 20

9. Under which of the following situation, an Asset shall NOT be classified as current asset?

(A) It is expected to be realized after 12 months form the reporting date

(B) It is expected to be realized in or is intended for sale or consumptions in, the company’s normal operating cycle.

(C) It is held primary for the purpose of being traded

(D) It is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least 12 months after the reporting date.

10. As per Revised Schedule III, Other current liabilities include-

(A) Unpaid Dividends 

(B) Income received in advance

(C) Refundable share application 

(D) All the above

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