vu mgt401 Final Term - Quiz No.5
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: Under which of the following assumptions, the Financial Statements are to be prepared?
Future assumption
Past assumption
Accrual basis and Going concern assumptions
Accrual basis assumption only
Question 2: Which one of the following type(s) of information is(are) available in 4th and 5th schedule of the Companies Ordinance 1984?
Definitions and general requirements for preparation and presentation of financial statements
Requirements for Balance Sheet
Requirements for Profit and Loss Account
All of the given options
Question 3: When we see the capital with Production capacity or operating capability of the enterprise then it called:
The financial concept of capital maintenance
The physical concept of capital maintenance
Both physical and financial concept of capital maintenance
Neither physical nor financial concept of capital maintenance
Question 4: Which of the following is/are the type(s) of stock for manufacturing concerns?
Raw Material
Work in Process
Finished Goods
All of the given options
Question 5: Which of the following is the type of business owned by one person?
Sole-Proprietorship
Partnership
Public Limited Company
Unlimited Company
Question 6: Which of the following sections of the Companies Ordinance 1984 is related to the Annual General Meeting?
Section 157
Section 158
Section 159
Section 160
Question 7: Which one of the following is related to the IAS 39?
Consolidated and Separate Financial Statements
Interest in Joint Venture
Financial Instruments Disclosure and Presentation
Financial Instruments Recognition and Measurement
Question 8: Which of the following is the application of research findings or other knowledge to a plan or design for the production of new or substantially improved materials, devices, products, processes, systems or services before the start of commercial production or use?
Applied research
Development
Business research
Accounting
Question 9: A Private limited company can be formed at least by:
2 members
3 members
1 member
07 members
Question 10: Which of the following is another name for Authorized Capital of a company?
Nominal Capital
Issued Capital
Subscribed Capital
Paid up Capital
