vu mgt401 Final Term - Quiz No.12
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 7 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.
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Question 1: Which of the following is NOT a Qualifying Asset?
Power plan being in the process of manufacture
Inventories requiring a substantial period for manufacturing
Special order for a special inventory that will be manufactured in 5 months Asset ready for use
None of the given
Question 2: Depreciation is:
A systematic allocation of depreciable amount of an asset over its estimated useful life
The end life of an asset
The increase in value of asset
Another name of Impairment
Question 3: which one of the following is(are) NOT recorded under Current Liabilities section of the Balance Sheet?
Debentures
Deferred Taxation
Obligation Under Finance Lease
All of the given options
Question 4: Which one of the following is a method of stock valuation?
Diminishing Balance Method
Written Down Value Method
Specific Identification Method
Sum of Year Digit Method
Question 5: What is the treatment of Accumulated Depreciation in accounting?
Treated as a reserve
Treated as a contra asset
Treated as a surplus
Treated as an expense
Question 6: Which of the following sections of Companies Ordinance 1984 are related to the Non Profit oriented entities?
Section 42
Section 43
Section 44
Section 45
Question 7: Which of the following is the Classification of Current Assets with respect to the Companies Ordinance 1984?
Building
Land
Premises
Marketable Securities
