MGT101 Final Term Solved Papers 14

Paper No:1

Solved by Chanda Rehman& Kamran Haider 2010 Final Paper

Q7. Which of the following business publishes the Financial Statements? (1 marks)

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correct

Q16. Which of the following can offer its share to general public at large? (1 marks)

Ź$SDUWQership firm Ź$WUXVW

Q17. Which financial statement show what a business owes at a particular point in time? (1 marks)

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y�A balance sheet correct

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Q19. The Balance Sheet item that represents the resources invested by the owner is known as: (1 marks)

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correct

Q25. Which of the following rectifying entry will be recorded, if sales to Mr. “A” of Rs.336 have been debited to Mr. “B” account? (1 marks)

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t (Dr.) and B’s account (Cr.) correct

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Q28. If provision is created for doubtful debts, which of the following entry will be passed to record bad debts in control account? (1 marks)

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y��3�Uovision for doubtful debts (Dr) and Debtors A/c (Cr) correct

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Q34. The following balance and discrepancies were found on 31 March 2008: (1 marks)

Rs. Cash book balance (Dr) Unpresented cheques Uncredited cheques

The Bank Statement balance on 31 March 2008 should be: Ź5V 'U
y��5�V��������� �&�U�

correct

Ź5V 'U Ź5V 4 500 (Cr)

Q42. Cost of asset (1 marks)

Rs. 1,00,000 Life of asset 5 years Depreciation for each year Rs. 15,000 Sale price after 5 years Rs.50,000 Book value of Asset after 5 years

y��5�V�������

0 correct

Ź5V Ź5V Ź5V

Q44. Which of the following shows summary of a company's financial position at a specific date? (1 marks)

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correct

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Q1. Debenture is also named as: (1 marks)

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correct

Ź(TXLW\ Ź5HVHUYH

Q2. A company declares a cash dividend to be paid to its stockholders next month. The effect of the transaction is to: (1 marks)

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.correct

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Q4. The net income calculated in the income statement for the accounting period is reported on: (1 marks)

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y��1�R�Q�H��R�I��W�K�H��J�L�Y�H�Q��R�S�W�L�R�Q�V

correct

Q9. Which of the following is the most important document of the company? (1 marks)

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correct

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