vu mgt401 Final Term - Quiz No.7
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 represents the Qualifying Asset?
Inventory routinely manufactured
Asset ready for use
Manufacturing plants
None of the given options
Question 2: If the holding company owns100% shares of the subsidiary company then the subsidiary type will be termed as:
Partially Owned Subsidiary
Wholly Owned Subsidiary
Direct Subsidiary
Indirect Subsidiary
Question 3: Which of the following option is/are TRUE with respect to the Disclosure requirement for intangible assets acquired by the way of Government grants?
The fair value initially recognized
Disclosure for carrying amount
Disclosure for the amount of commitments for acquisition of intangible assets
All of the given options
Question 4: Which of the following is an identifiable non-monetary asset without physical substance?
Tangible Asset
Intangible Asset
Floating Asset
Circulating Asset
Question 5: Which one of the following schedule provides disclosure requirements for Non-Listed Companies under Companies Ordinance 1984?
4th schedule
5th schedule
6th schedule
2nd schedule
Question 6: Which of the following is/are equal to “Capital”?
Net Assets
Assets – Liabilities
Net worth of the firm
All of the given options
Question 7: Which one of the following is(are) recorded under the Equity section of the Balance Sheet?
Share Premium
Reserves
Accumulated Profit
All of the given options
Question 8: Which of the following is NOT an accounting concept?
Prudence
Going concern
Depreciation
Matching
Question 10: The closing stock will be shown under the head of __________ in Balance Sheet.
Non current Assets
Current Assets
Intangible Assets
Tangible Assets
