LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Question The integrated form of all functional budgets is known as :-

Correct Answer Master budget

Your Answer Master budget

Select The Blank

Question Dividend received on amount invested in shares is an example
of ________.
Correct Answer Non-operating income

Your Answer Non-operating income

True/False
Question Balance sheet indicates the expenditure & income from the
business.
Correct Answer False

Your Answer False

True/False
Question Bank reconciliation statement must be prepared before the
preparation of profit and loss account and balance sheet.
Correct Answer True

Your Answer True

Select The Blank

Question ________ Accounting is the process of analysis and
interpretation of financial data collected with help of financial
accounting & cost accounting
Correct Answer Management

Your Answer Management

Multiple Choice Single Answer

Question Judge the statement in italics based on the criteria given :- On
31st March, 2004 Sita Enterprises sent goods worth Rs.30,000/-
on approval basis to Mr. Ram. These goods should be included
in the closing stock as on 31st March, 2004 because the
ownership is still with the seller, viz. Sita Enterprise.
Correct Answer The statement and the reason both are correct

Your Answer The statement and the reason both are correct

Multiple Choice Single Answer

Question The bank book shows an overdraft of Rs.117/- as on 31st
December, 2003. It is found that the pass book is debited with
Rs.11/- representing a dishonored cheque, originally received