In terms of finance, what does it mean when one talks about 'Stock Items' ?

Asset and Liability

Income only

Expenses only

Both Income and Expenses

In terms of finance, what does it mean when one talks about 'Flow Variable' ?

Asset and Liability

Income and Expenses

Both of the above

Only Liability

Question No. 3 of 25

Broadly how many types of expenses are there in financial accounting and analysis?

Question No. 4 of 25

The term that is usually referred in the balance sheet for 'Money contributed by owners' is ____

Fixed asset

Liabilities

Share Capital

None of the above

Question No. 5 of 25

A part of profit earned, that if distributed to share holders is termed as ____

Income

cash Reserves

Paycheck

Dividend

Question No. 6 of 25

Under 'sources of fund' column in a balance sheet, which of the following is termed as 'capital employed' ?

Owned Funds
 Borrowed Funds

Both of the above

None of the above

Question No. 7 of 25

In a company's Balance Sheet, 'Share Capital' is a part of ____

Owned Funds

Fixed asset

Investments

Liabilities

Question No. 8 of 25

Accumulated Depreciation comes in ____ in a balance Sheet.

Investments

Fixed Assets

Current Liabilities

Borrowed Funds

Question No. 9 of 25

The term ' Account Payables' comes in ____

Fixed Liabilities

Investments

Current Liabilities

Borrowed Funds

Question No. 10 of 25

The term ' Account Receivables' comes in ____

With reference to the term ' Debtors'

Investments

Goodwill

Current Liabilities

Current Assets

Bank Overdrafts' and ' Outstanding Expenses' is a part of ____ under a Balance Sheet.

Current Liabilities

Fixed Liabilities
 Current Assets

Fixed Assets

Debentures, Termed Loans and Bonds usually are parts of ____

Owned Funds

Borrowed Funds

Both of the above

None of the above

reserves and Surplous is also known as / is a part of____

Retained Earnings

Share Capital

Dividends

None of the above

Question No. 15 of 25

Straight Line and Written Down Value are the methods of ________

Depreciation and Fixed Assets

Liabilities

Borrowings

None of the above

Question No. 16 of 25

If we consider a loss that deals with respect to usage as Depreciation, what can we call a loss that incurs without a use?

Impairment

Depreciation

Accumulated Depreciation

No term exists for the same

Question No. 17 of 25

A machine costs 10 lakh and has a life of 10 years. After 10 years, the cost value gets reduced to 2 lakh (salvage). Using Straight Line Method (as per Accounting

Standard 10), calculate the depreciation.

.8 lakh

1 lakh

0 lakh
 None of the above

Question No. 18 of 25

A machine costs 1 lakh and depreciation rate is given 20% Written Down Value Method (as per Accounting Standard 10). Calculate the value of depreciation

incurred for the 2nd year of its operation.

20,000

16,000

40,000

None of the above

Question No. 19 of 25

XYZ ltd. Purchased a car for Rs. 6,00,000 on Jan 1, 2001. On 30 June 2001, a second car was purchased for Rs. 10,00,000. In the year 2003, on 1st October, second

car was sold for Rs. 6,50,000. Calculate profit/loss incurred.

XYZ follows the calendar year from Jan to Dec and depreciation rate is 20% Written Down Value Method.

38000 loss

No profit no loss

38000 profit

None of the above

Financial Wizards Set 1: Q 20 of 25

Question No. 20 of 25

Assume below conditions: Profit before interest paid is 45,00,000. 10% debentures Rs. 10,00,000 (Rs. 100 each). Shares of Rs. 5,00,000 (Rs. 10 each). Each

debenture is convertible into 5 shares. Find EPS.

90

88

100

None of the above

Question No. 21 of 25

Assume below conditions: Profit before interest paid is 45,00,000. 10% debentures Rs. 10,00,000 (Rs. 100 each). Shares of Rs. 5,00,000 (Rs. 10 each). Each

debenture is convertible into 5 shares. Find Diluted EPS.

44

88

90

45
Question No. 23 of 25
Consider AS 2 (Valuation of Inventories) and below data as given beforehand: Use FIFO method to find the value of inventory.

First In First Out Method

1500

1000

1600

None of the above

Question No. 24 of 25

Calculate the break-event Point from the following information: Selling Price per unit = 20, Variable Cost per unit = 4, Fixed Cost for the year = 80,000, Estimated

Sales for the period = 2,00,000 (all figures in Rs.).

The number of units involved coincides with the expected volume of output.

5000 units

4000 units

7500 units

None of the above

Question No. 25 of 25

Risk free rate is the theoretical rate of return on an investment with ____ risk

Some Risk

High Risk

Zero Risk
 None of the above

n terms of finance, what does it mean when one talks about 'Stock Items' ?

Your answer of Both Income and Expenses was incorrect.

Correct answer is: Asset and Liability

In terms of finance, what does it mean when one talks about 'Flow Variable' ?

Your answer of was incorrect.

Correct answer is: Income and Expenses

Broadly how many types of expenses are there in financial accounting and analysis?

Your answer of was incorrect.

Correct answer is: 2

Capital and Revenue

The term that is usually referred in the balance sheet for 'Money contributed by owners' is ____

Your answer of was incorrect.

Correct answer is: Share Capital

A part of profit earned, that if distributed to share holders is termed as ____

Your answer of was incorrect.

Correct answer is: Dividend

Under 'sources of fund' column in a balance sheet, which of the following is termed as 'capital employed' ?

Your answer of was incorrect.

Correct answer is: Both of the above

In a company's Balance Sheet, 'Share Capital' is a part of ____

Your answer of was incorrect.

Correct answer is: Owned Funds

Accumulated Depreciation comes in ____ in a balance Sheet.

Your answer of was incorrect.

Correct answer is: Fixed Assets

The term ' Account Payables' comes in ____

Your answer of was incorrect.

Correct answer is: Current Liabilities

The term ' Account Receivables' comes in ____

Your answer of was incorrect.

Correct answer is: Current Assets

Bank Overdrafts' and ' Outstanding Expenses' is a part of ____ under a Balance Sheet.

Your answer of was incorrect.

Correct answer is: Current Liabilities

Debentures, Termed Loans and Bonds usually are parts of ____

Your answer of was incorrect.

Correct answer is: Borrowed Funds

Reserves and Surplous is also known as / is a part of____

Your answer of was incorrect.

Correct answer is: Retained Earnings

AS9, also known as Revenue Recognition, says that ____________

Your answer of was incorrect.

Correct answer is: All of the above

Straight Line and Written Down Value are the methods of ________

Your answer of was incorrect.

Correct answer is: Depreciation and Fixed Assets

If we consider a loss that deals with respect to usage as Depreciation, what can we call a loss that incurs without a use?

Your answer of was incorrect.

Correct answer is: Impairment

A machine costs 10 lakh and has a life of 10 years. After 10 years, the cost value gets reduced to 2 lakh (salvage). Using Straight Line Method (as per Accounting

Standard 10), calculate the depreciation.

Your answer of was incorrect.

Correct answer is: .8 lakh

A machine costs 1 lakh and depreciation rate is given 20% Written Down Value Method (as per Accounting Standard 10). Calculate the value of depreciation

incurred for the 2nd year of its operation.

Your answer of was incorrect.

Correct answer is: 16,000

XYZ ltd. Purchased a car for Rs. 6,00,000 on Jan 1, 2001. On 30 June 2001, a second car was purchased for Rs. 10,00,000. In the year 2003, on 1st October, second

car was sold for Rs. 6,50,000. Calculate profit/loss incurred.

Your answer of was incorrect.

Correct answer is: 38000 profit

calculation leads to book value on sale of date as 6.12 lac

Assume below conditions: Profit before interest paid is 45,00,000. 10% debentures Rs. 10,00,000 (Rs. 100 each). Shares of Rs. 5,00,000 (Rs. 10 each). Each

debenture is convertible into 5 shares. Find EPS.

Your answer of was incorrect.

Correct answer is: 88

44,00,000/50,000

Assume below conditions: Profit before interest paid is 45,00,000. 10% debentures Rs. 10,00,000 (Rs. 100 each). Shares of Rs. 5,00,000 (Rs. 10 each). Each

debenture is convertible into 5 shares. Find Diluted EPS.

Your answer of was incorrect.

Correct answer is: 45

45,00,000/100,000

Consider AS 2 (Valuation of Inventories) and below data as given beforehand: Use LIFO method to find the value of inventory.

Your answer of was incorrect.

Correct answer is: 1500

Consider AS 2 (Valuation of Inventories) and below data as given beforehand: Use FIFO method to find the value of inventory.

Your answer of was incorrect.

Correct answer is: 1600

Calculate the break-event Point from the following information: Selling Price per unit = 20, Variable Cost per unit = 4, Fixed Cost for the year = 80,000, Estimated

Sales for the period = 2,00,000 (all figures in Rs.).

Your answer of was incorrect.

Correct answer is: 5000 units

Risk free rate is the theoretical rate of return on an investment with ____ risk

Your answer of was incorrect.

Correct answer is: Zero Risk