vu mgt401 Final Term - Quiz No.10
vu mgt401 Financial Accounting II Quiz
This quiz belongs to book/course code vu mgt401 Financial Accounting II of vu organization. We have 12 quizzes available related to the book/course Financial Accounting II. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Final Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
NVAEducation also facilitates users to contribute in online competitions with other students to make a challenging situation to learn in a creative way. You can create one to one, and group competition on an topic of a book/course code. Also on NVAEducation you can get certifications by passing the online quiz test.
Question 1: Which of the following entities is profit oriented entity?
NGOs
Trust
Societies
Sole - proprietorship
Question 3: Which of the following represent(s) the Prime Cost?
Direct Material Cost + Direct Labour Cost
Total Factory Cost – Factory Overheads
Conversion Cost – Factory Overheads + Direct Material Costs
All of the given options
Question 4: Which one of the following is NOT the component of cost?
Import duties
Installation costs
Cost of site preparation
Transportation outwards
Question 5: Which one of the following is a fixed asset?
Cash in hand
Advanced payment
Closing stock
Leasehold vehicle
Question 6: Concept of Related Parties is defined in:
Companies Ordinance 1984
IAS
Both Companies Ordinance 1984 and IAS
Neither in Companies Ordinance 1984 nor in IAS
Question 7: Which of the following IAS deals with the Intangible Assets?
IAS 38
IAS 23
IAS 01
IAS 16
Question 8: Which one of the following is an example of Financial Asset?
Inventories
Patent rights
Goodwill
Accounts receivable
Question 9: Which of the following is the deduction or allowance allowed by a creditor to a debtor?
Trade Discount
Cash Discount
Purchases return
Sales return
Question 10: Which one of the following is related to the Allowed Alternative Treatment for an investment in jointly controlled entities?
Proportionate Consolidation Method
Equity Method
Weighted Average Method
Sum of Year Digit Method
