FINANCIAL REPORTING (FR) MCQS - MARCH 2014

T.Y B.COM

SEMESTER - 6

FINANCIAL REPORTING 

(FR) 

MCQS - MARCH 2014

1. Earnings Per Share gives the information regarding earnings available to each _________. 

A. Preference Share

B. Equity Share

C. Debenture

D. Both (a) and (b)

2. S Ltd had 1,800 equity shares outstanding as on 01.01.2013. On 31st May, 2013, it issued 600 equity shares for cash. On 01.11.2013 it bought back 300 equity shares. The weighted average number of shares as on 31st December, 2013 are:

A. 2,100

B. 1,800

C. 1,500

D. 2,700

3. When is potential equity shares said to be dilutive?

A. When their conversion to equity shares would increase net profit per share.

B. When their conversion to equity shares would increase earnings per share.

C. When their conversion to equity shares would decrease loss per share.

D. None of a, b and c

4. Actuarial gain or loss is the difference between __________. 

A. Fair value of plan assets at the beginning and at the end of the year

B. Expected return on plan assets and actual return on plan assets

C. Present value of defined benefit obligation at the beginning and at the end of the year

D. Current service cost and past service cost

5. _______ arises when an enterprise introduces a defined benefit plan or changes in the benefits payable under an existing defined benefit plan. 

A. Interest cost

B. Current service cost

C. Past service cost

D. Actuarial gains and losses

6. An approach of measuring interim period income by viewing each interim period separately is _______. 

A. Discrete View

B. Interest View 

C. External view

D. Deferred View

7. Segment assets does not include _________. 

A. Loans

B. Receivables

C. Investments

D. Income-tax assets

8. Due to decline in market price in third quarter, OCNG Ltd. incurred an inventory loss. The Market price expected to return to previous levels by the end of the year. At the end of the year, the decline has not reversed. When should the loss be reported in interim profit and loss account of OCNG Ltd.?

A. In first quarter 

B. In second quarter 

C. In third quarter

D. In fourth quarter

9. ________ is made on the basis of products or services, which are exposed to different risks and returns.

A. Segment revenue

B. Geographical segment

C. Business Segment

D. Segment liabilities

10. In As-17, if 75% of total external revenue is not in the reportable segment, then additional reportable segments should be identified ignoring _________ threshold limits until at least 75% of total external revenue is included in reportable segments.

A. 40%

B. 10%

C. 20%

D. 50%

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