vu mgt401 Final Term - Quiz No.9
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 IAS is related to the Consolidated and Separate Financial Statements?
IAS 27
IAS 28
IAS 31
IAS 32
Question 2: IAS-16 deals with:
Property, Plant and Equipment
Cash Flow Statement
Presentation of Financial Statements
Earning per share
Question 3: Which of the following is(are) example(s) of Borrowing costs?
Interest on bank overdrafts
Interest on short-term borrowings
Interest on long-term borrowings
All of the given options
Question 4: Which of the following schedule provides disclosure requirements for Listed Companies under Companies Ordinance 1984?
4th schedule
5th schedule
6th schedule
2nd schedule
Question 5: Which of the following is/are excluded from Financial Assets?
Physical Assets
Inventories
Prepaid expenses
All of the given options
Question 6: Which one of the following methods for inventory valuation is NOT suitable for homogeneous units?
FIFO Method
LIFO Method
Weighted Average Method
Specific Identification Method
Question 7: Which of the following is/are the method(s) for calculating the cost of inventory?
FIFO Method
Weighted Average Method
Specific Identification Method
All of the given options
Question 8: Preparation and presentation of Financial Statements are governed by:
Companies Ordinance 1984
International Accounting Standards
International Financial Reporting Standards
All of the given options
Question 9: Which of the following represent(s) the Cost of goods sold?
Sales – Gross Profit
Opening Stock + Purchases – Closing Stock
Cost of goods Manufactured + Opening Finished Goods Inventory – Closing Finished Goods Inventory
All of the given options
Question 10: Which of the following is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm’s length transaction?
Depreciable Amount
Fair Value
Cost
Carrying Amount
