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MGT401 Financial Accounting II Spring 2014 Current and Past Mid Term Papers at One Place From June 07 to June 18, 2014
Question No: 1 (Marks: 1 ) - Please chose one option:
According to fourth schedule of companies ordinance which of the stock-in-trade is not part of the curent aset Stock of raw material Work in proces Stock of inished gods None of the given options
Question No: 2 (Marks: 1 ) - Please chose one
Which of the folowing refers to the relation betwen persons who have agred to share the
profits of a busines caried on by al or any of them acting for al? Sole - proprietorship
Partnership
Company
Trust
Question No: 3 ( Marks: 1 ) - Please chose one
How many days before notice is served to the members for holding statutory meting? 60days 30days 40days 21days
Question No: 4 ( Marks: 1 ) - Please chose one
How many days before notice is served to the members for holding Anual General Meting?
Question No: 5
( Marks: 1 ) - Please chose one
Which of the folowing IAS deals with the term Significant Influence in asociate companies? IAS 28
IAS 01
IAS 07
Question No: 6
( Marks: 1 ) - Please chose one
If the holding company owns more then 50% but les then 10% shares of the subsidiary
company then the subsidiary type wil be termed as: Partialy Owned Subsidiary
Wholy Owned Subsidiary
Direct Subsidiary
Indirect Subsidiary
Question No: 7
( Marks: 1 ) - Please chose one
If the holding company owns10% shares of the subsidiary company then the subsidiary
type wil be termed as:
Question No: 8
( Marks: 1 ) - Please chose one
Whom of the folowing are responsible to prepare the anual acounts of the company under
Companies Ordinance 1984? Directors of the company
Shareholders of the company
Internal Auditors of the company
Managers of the company
Question No: 9
( Marks: 1 ) - Please chose one
Which one of the folowing cost is directly atributable to the Property, Plant and Equipment? Costs of site preparation
Administration and other general overhead cost Costs of conducting busines in a new location or with a new clas of customer( including costs of staf training) Al of the given options
Question No: 10
( Marks: 1 ) - Please chose one
Which of the folowing is(are) related with the IAS 23?
Question No: 1
( Marks: 1 ) - Please chose one
Which of the flowing is the aplication of research findings or other knowledge to a
plan or design for the production of new or substantialy improved materials, devices, products,
processes, systems or services before the start of commercial production or use? Aplied research
Development Busines research
Acounting
Question No: 12
( Marks: 1 ) - Please chose one
Which one of the folowing is an example of Intangible Asets? Preliminary expenses Copy rights Investments Discount on isue of shares
Sponsored Links
Question No: 14
( Marks: 1 ) - Please chose one
Which of the folowing information must be disclosed in case of loan and advances to subsidiary
companies? The name of each Bowers Amount of loans and advances The terms of loan and the particulars of colateral security held
Al of the given options
Question No: 15
( Marks: 1 ) - Please chose one
Then:
Direct Material Cost is Rs. 15,00
Factory overhead is Rs. 5,00
Prime Cost is Rs. 30,00
What is the amount of Manufacturing Cost?
Izma Khan. Page 7
Rs. 10,00
Rs. 20,00
Rs. 35,00 prime cost = direct material + direct labor
Rs. 45,00 cost of manufacturing = prime cost+ FOH
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