S.Y. B.COM
SEMESTER - 3
ACCOUNTING AND FINANCE FOR SERVICES
(AFS)
MCQs - OCTOBER 2017
1. Calculate profit from rooms from the following information:
Sales (Rooms) - Rs. 2,250
Glassware (Rooms) - Rs. 75
Employee Benefit (Rooms) - Rs. 250
Guests Supplies (Rooms) - Rs. 95
(A) Rs. 2,500
(B) Rs. 1,925
(C) Rs. 1,830
(D) Rs. 2,080
2. Calculate the number of units issued by the mutual fund from the following data:
Market value of investment is Rs.25,00,00,000
The mutual fund scheme had a net asset value of Rs.10 per unit.
The investment had a carrying amount of Rs.20,00,000
The dividends receivable is Rs.1,00,000
(A) 2,50,000
(B) 2,60,000
(C) 2,10,000
(D) 2,00,000
3. Hotel universe earns a revenue of Rs.4,34,000 for the quarter ended 30th June 2017. The hotel has sold 125 rooms. Find the average daily rate of Rooms sold.
(A) 3,427
(B) 3,742
(C) 3,472
(D) None of the above
4. Find out present value of third installment from the following details: Third installment - Rs. 2,250 discounting rate - 14%.
|
Year |
0 |
1 |
2 |
3 |
4 |
|
PVF |
1 |
0.8772 |
0.7695 |
0.6750 |
0.5921 |
(A) Rs. 2,250
(B) Rs. 1,195
(C) Rs. 1,731
(D) Rs. 1,519
5. BRICS stands for _______.
(A) Bhutan, Russia India, China and South Africa
(B) Brazil, Russia, Indonesia, China and South Africa
(C) Brozil, Russia, India, China and South Korea
(D) Brazil, Russia, India, China and South africa
6. Accounting for lease is covered under which Accounting Standard?
(A) AS-14
(B) AS-13
(C) AS-19
(D) AS-17
7. Calculate Average rate per guests when total rooms revenue is Rs.6,960 and Number of guests are 95.
(A) Rs. 26.73
(B) Rs. 70.24
(C) Rs. 73.26
(D) None of the above
8. The total revenue of a hotel is Rs. 35,714 and food cost is Rs. 22,500. Find out percentage of food cost?
(A) 65%
(B) 64%
(C) 63%
(D) 62%
9. In Express Hotel, number of rooms available are 800, rooms revenue Rs.3,60,00,000 and average occupancy is 50% Find out average daily rate.
(A) Rs.92,000
(B) Rs.91,000
(C) Rs.93,000
(D) Rs.90,000
10. Which of the following debit entries is/are included in guest ledger?
(A) Telephone expense
(B) Room charges
(C) Soft drinks
(D) All of the above
11. Revenue means Gross inflow of _________.
(A) Consideration
(B) Receivables
(C) Sale of Goods
(D) Both (A) and (B)
12. State which of the following statement is true?
(A) An operating lease is often cancellable by the lessor
(B) An operating lease is often non-cancellable by the lessee
(C) An operating lease is often non-cancellable by the lessor
(D) An operating lease is often cancellable by the lessee
13. Following details are available in respect of a scheme of Mutual Fund:
Market value of fund's investment Rs.360 Lakhs
Receivables Rs.2 Lakhs
Liabilities Rs. 1 Lakhs
Acccrued Income Rs.2 Lakhs
Accrued Expense Rs. 1 lakhs
Compute Mutual Fund Holding.
(A) Rs.3,62,00,000
(B) Rs.3,60,00,000
(C) Rs.3,61,00,000
(D) None of the above
14. What is the formula for occupancy percentage?
(A) Number of Rooms sold /
Number of Rooms Occupied x 100
(B) Number of Rooms sold /
Number of Rooms available x 100
(C) Rooms Revenu /
Number of Guests x 100
(D) None of the above
15. From the following information compute RevPAR:
Occupancy rate - 82%
Total rooms - 5,000
Average room rate - Rs.4,500
Total rooms occupied - Rs.4,100
(A) Rs.3,632
(B) Rs.3,690
(C) Rs.3,962
(D) Rs.3,362
16. Money market fund provides _______.
(A) Easy Liquidity
(B) Fixed Returns
(C) Long term gains
(D) Interest Income
17. The NAV of each scheme should be updated on ________.
(A) Every Year
(B) Every Month
(C) Every Day
(D) None of the above
18. In finance lease, the lessee bears risk of _______.
(A) Damages
(B) Losses
(C) Obsolescence
(D) None of the above
19. Rev PAR considers both _______ and _______ in identifying the amount off revenues generated by a hotel.
(A) Guests and Rooms
(B) Revenue and sales
(C) Rate and volume
(D) None of the above
20. Match the following:
|
(i) Open ended fund |
(a) Combination of open and closed anded fund |
|
(ii) Closed ended fund |
(b) Subscribe though out the year |
|
(iii) Interval fund |
(c) Subscribe during a specified period |
(A) (i - b), (ii - a), (iii - c)
(B) (I - c), (ii - b), (iii - a)
(C) (i - a), (ii - b), (iii - c)
(D) (i - b), (ii - c), (iii - a)
21. Which of the following is not considered as fixed charge?
(A) Rates and Taxes
(B) Maintenance
(C) Insurance
(D) Interest
22. Lease can be cancellable, only if
(A) Lessee enters into new lease with same lessor
(B) With permission of lessor
(C) Occurance of contigencies
(D) All of the above
23. Calculate depreciation for the year 2013:
On 1-1-2013 asset taken on 4 year's lease Rs.1,50,000,
On 1-1-2013 installation expenses paid Rs.2,500
(A) Rs.37,500
(B) Rs.36,875
(C) Rs 38,125
(D) None of the above
24. Calculate NAV: Market value of investment is Rs. 15 crores, expenses which may be incurred are Rs. 1 crore. The mutual fund had issued 1.5 crores units to the investors. The investments had a carrying amount of Rs.9 crores.
(A) 5.33 p.u.
(B) 9.33 p.u.
(C) 6 p.u.
(D) 10 p.u.
25. Tara Ltd. entered into lease agreement and leased building for 4 years starting from 1-11-2014. Cost of leased asset at the inception of the lease Rs.6,00,000. The estimated residual value of the leased asset at the end of the leased term is 5% of the cost of the asset to the lessor. calculate amount of residual value.
(A) Rs. 30,000
(B) Rs. 3,000
(C) Rs. 60,000
(D) Rs. 6,000
26. Which of the following is/are not activities of mutual fund?
(A) Purchase of units
(B) Investment by AMC
(C) Sale of units
(D) Portfolio creation
27. Calculate financial charges @14% p.a. at the end of first year: Fair value of asset taken on lease Rs. 1,50,000, down payment - Rs.88,000.
(A) Rs.21,000
(B) Rs.8,680
(C) Rs.12,320
(D) Rs.33,320
28. Disclosures and clarification relating to schemes are made in _________.
(A) Offer document
(B) Offer deed
(C) Agreement
(D) None of the above
29. Taj Hotel has three types of rooms for it's customers. The details are as under:
Single Room- 80 and occupancy is 100%
Double Room- 60 and occupancy is 80%
Triple Rooms- 50 and occupancy is 50%
Assumee 360 days in a year. Compute room days per annum.
(A) 50,500
(B) 50,400
(C) 55,080
(D) 50,250
30. Match the following:
|
(i) Based on standards |
(a) Heritage hotel, Beach resort hotel-Time share
Resorts |
|
(ii) Based on nature |
(b) Budget Hotel, Economy hotel, Luxury hotel |
|
(iii) Based on tariff |
(c) Divided into different categories depending
on their location, facility, infrastructure. |
(A) (i - a), (ii - c), (iii - b)
(B) (I - c), (ii - b), (iii - a)
(C) (I - c), (ii - a), (iii - b)
(D) (I - a), (ii - b), (iii - c)
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