ACC501 Solved Quizzes 1-20 by VUBuddy

Who of the following make a broader use of accounting information?

Accountants Financial Analysts Auditors Marketers

Which of the following is NOT an internal use of financial statements information?

Planning for the future through historic information

During the accounting period, sales revenue is Rs. 25,000 and accounts receivable increases by Rs. 8,000. What will be the amount of cash received from customers for the period?

Rs. 33,000 Rs. 25,000 Rs. 17,000 Rs. 8,000

The accounting definition of income is:

Income = Current Assets – Current Liabilities Income = Fixed Assets – Current Assets Income = Revenues – Current Liabilities Income = Revenues – Expenses

In case of international business which of the given factor(s) must be considered?

Role of foreign exchange Balance of payments Attitude of Governments

type of business is being employed by Mr. A?

A portion of profits, which a company distributes among its shareholders, is known as:

Dividends

Which of the following is subcategory (ies) of finance department?

Accounting department only Treasury department only Accounting department and Treasury department

Balance Sheet is based upon which of the following formula?

Cash flow from assets involves which of the following component(s)?

Operating cash flow Capital spending Change in net working capital

Which of the following is NOT an external use of financial statements information?

Evaluation of financial worth of supplier Evaluation of potential strength of the competitor

Which of the following statement is CORRECT regarding compound interest?

Which of the following ratios is NOT from the set of Asset Management Ratios?

Inventory Turnover Ratio Receivable Turnover Capital Intensity Ratio

REF:

Management ratios are:

•  Inventory Turnover Ratio
•  Days' Sales in Inventory
•  Receivables Turnover
•  Days' Sales in Receivables
•  Payables Turnover
•  Capital Intenstiy Ratio

Dividends

Which of the following best represents the term “Financing”?

It means raising money to acquire something. It is an object that provides services. It is trade license to trade securities on behalf of investors. It represents an ownership interest.

__________ shows the sources from which cash has been generated and how it has been spent during a period of time?

Which of the following financial statement shows both dollars and percentages in the report?

Common-Size Statement

Relative Statement of Equity