vu mgt401 Final Term - Quiz No.8
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: If the holding company owns marginally less than 100% shares of the subsidiary company then the subsidiary type will be termed as:
Partially Owned Subsidiary
Wholly Owned Subsidiary
Virtually Wholly Owned Subsidiary
Indirect Subsidiary
Question 3: What is the meeting requirement for the directors of a Public Limited Company?
At least once in each quarter
At least once in each month
At least once in each year
At least once in each week
Question 4: If stock valuation method is changed every year by the firm, which concept the firm has violated?
The materiality concept
The consistency concept
The prudence concept
The going concern concept
Question 5: Which of the following is the ability to govern the financial and operating policies of an enterprise so as to obtain from its activities?
Control
Significant Influence
Direct Subsidiary
Indirect Subsidiary
Question 6: in case an item of property, plant and equipment is exchanged for similar asset of the enterprise, the cost of the new asset is measured at the __________ of the old asset.
Carrying value
Fair value
Future value
Salvage value
Question 7: Which of the following is a rebate or allowance from the scheduled price granted by the seller to the buyer?
Trade Discount
Cash Discount
Purchases return
Sales return
Question 8: Which of the following is an asset that necessarily takes a substantial period of time to get ready for its intended use or sale?
Qualifying Asset
Outstanding Asset
Tangible Asset
Intangible Asset
Question 9: Which of the following method is used for stock valuation?
FIFO Method
LIFO Method
Weighted Average Method
Specific Identification Method
Question 10: Which of the following may consist of more than 20 persons in case of partnership?
Firms of Lawyers
Firms of Doctors
Firms of Associates
All of the given options
