vu mgt401 Final Term - Quiz No.2
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.
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Question 1: Which of the following is TRUE with respect to the disclosure requirements of Trade Debts?
Doubtful debts is deducted from the Provision for doubtful debts
Doubtful debts and its Provision is shown separately as asset
Provision for doubtful debts is not taken into consideration
None of the given options
Question 2: Which of the following is NOT the type of Market Risk?
Price Risk
Liquidity Risk
Interest Rate Risk
Currency Risk
Question 3: Which of the following business is formed by the approval of State Bank of Pakistan?
Money Exchange Company
Non Banking Finance Corporation
Trade organization u/s 42 of the Companies ordinance 1984
Corporate Brockage House
Question 4: Which of the following IAS deals with Revaluation of Assets?
IAS 16
IAS 07
IAS 01
IAS 23
Question 5: Which of the following is NOT related to the qualitative characteristics that make financial information useful?
Reliability only
Relevancy only
Both Reliability and Relevancy
Understandability
Question 6: Which of the following entities is not profit oriented entity?
Sole - proprietorship
Partnership
Companies
Foundations
Question 7: Which of the following is NOT the Classification of Current Assets with respect to the Companies Ordinance 1984?
Cash Balance
Bank Balance
Premises
Marketable Securities
Question 8: Which of the following business is formed by the approval of Stock Exchange?
Money Exchange Company
Non Banking Finance Corporation
Trade organization u/s 42 of the Companies ordinance 1984
Corporate Brockage House
Question 9: All of the following are Fixed assets EXCEPT:
Machinery
Freehold land
Leasehold land
Marketable securities
Question 10: The term “Significant Influence” refers to the:
Ability to participate but not to control financial and management affairs of the enterprise
Ability to participate and control financial and management affairs of the enterprise
Neither to control nor to participate in financial affairs of the enterprise
None of the given options
