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This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 3701. |
What is computerized accounting system? |
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Answer» • Computerized accounting system refers to the system of accounting maintenance using computer. • It involves the processing of accounting transactions through the use of computer in order to maintain and produce accounting records and reports. |
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| 3702. |
Why are investors interested in analysing Financial Statement? Or State the interest of investors in the Analysis of Financial Statements. |
| Answer» Investors are interested in analysing the Financial Statement to assess the safety of their investments and reurn. | |
| 3703. |
Assertion (A): Operating profit ratio and operating ratio are complementary to each other.Reason (R): A higher operating ratio indicates decline in efficiency. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» Correct option is b) A is correct, but R is wrong |
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| 3704. |
Calculate Quick Ratio from the following information: Current assets – 8,00,000; Current liabilities- Rs. 4,00,000; Inventories Rs. 1,40,000; and prepaid expenses Rs. 60,000. |
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Answer» Quick Ratio = (Quick Assets)/(Current liabilities) Quick assets = Current assets – Inventories – Prepaid expenses = Rs. 8,00,000 – (1,40,000 – 60,000) = Rs. 6,00,000 ∴ Quick ratio = 600000/400000 = 6:4 = 3:2 = 1.5:1 |
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| 3705. |
Assertion (A): A lower trade receivables turnover ratio is preferred by company. Reason (R) : Trade receivables turnover ratio is an indicator of how promptly company collects its debts. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» c) A is wrong, but R is correct |
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| 3706. |
Assertion (A): Return on investment is a significant ratio to find overall performance of an enterprise. Reason (R): For determining return on investment, net profit after tax is taken.a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» b) A is correct, but R is wrong |
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| 3707. |
Assertion (A): A lower trade receivables turnover ratio is preferred by company.Reason (R) : Trade receivables turnover ratio is an indicator of how promptly company collects its debts.a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» Correct option is c) A is wrong, but R is correct |
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| 3708. |
Assertion (A): Return on investment is a significant ratio to find overall performance of an enterprise.Reason (R): For determining return on investment, net profit after tax is takena) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» Correct option is b) A is correct, but R is wrong |
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| 3709. |
Assertion (A): Firms ability to meet long term obligation is assessed through solvency ratio. Reason (R): Solvency ratio establishes relation between various variables like debt, share holders’ fund, asset and interest coverage. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» a) Both A and R are correct |
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| 3710. |
Assertion (A): Firms ability to meet long term obligation is assessed through solvency ratio.Reason (R): Solvency ratio establishes relation between various variables like debt, share holders’ fund, asset and interest coverage. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» Correct option is a) Both A and R are correct |
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| 3711. |
Capital structure includes - (A) Share Capital (B) Deposits from public (C) Preference Share (D) Debenture |
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Answer» Correct option is: (A) Share Capital |
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| 3712. |
Trend analysis is significant for ____________. A. Forecasting and budgeting B. profit planning C. Capital rationing D. working capital management |
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Answer» A. Forecasting and budgeting |
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| 3713. |
_________ is concerned with procuring money for private organisation and management of the money by individual, voluntary association and corporations. A. Indirect Finance B. Private Finance C. Public Finance D. Direct Finance |
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Answer» B. Private Finance |
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| 3714. |
Financial statements are ____________. A. Anticipated facts B. recorded facts C. Estimated of facts D. unknown facts |
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Answer» B. recorded facts |
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| 3715. |
_______ is pertaining to acquisition for funds for meeting the requirements of government bodies and administration of these funds by the government. A. Public Finance B. Corporate Finance C. Private Finance D. Micro Finance |
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Answer» A. Public Finance |
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| 3716. |
Assertion: Financial statements are the basic sources of information to the shareholders and other external parties for understanding the profitability and financial position of any business concernReason: the primary objective of financial statements is to assist the users in their decision-making. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» Correct option is a) Both A and R are correct |
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| 3717. |
Assertion: Financial statements need to be arranged in a proper form with suitable contents so that the shareholders and other users of financial statements can easily understand and use them in their economic decisions in a meaningful way. Reason: The financial statements are the outcome of the summarizing process of accounting and are, therefore, the sources of information on the basis of which conclusions are drawn about the profitability and the financial position of a company a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» a) Both A and R are correct |
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| 3718. |
Assertion: Financial statements reflect a combination of recorded facts, accounting principles and personal judgements”.Reason: Personal opinion, judgements and estimates are made while preparing the financial statements to avoid any possibility of over statement of assets and liabilities, income and expenditure, keeping in mind the convention of conservatism a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» Correct option is b) A is correct, but R is wrong |
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| 3719. |
Assertion: Financial statements reflect a combination of recorded facts, accounting principles and personal judgements”. Reason: Personal opinion, judgements and estimates are made while preparing the financial statements to avoid any possibility of over statement of assets and liabilities, income and expenditure, keeping in mind the convention of conservatism a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» b) A is correct, but R is wrong |
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| 3720. |
Financial statements usually reflect a combination of __________. A. Recorded and unrecorded facts B. Conventions and personal judgements C. Monetary and non-monetary facts D. None of the above |
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Answer» B. Conventions and personal judgements |
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| 3721. |
Assertion: financial statements do not reflect current situation: Reason: Financial statements are prepared on the basis of historical cost. Since the purchasing power of money is changing, the values of assets and liabilities shown in financial statement do not reflect current market situation. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» a) Both A and R are correct |
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| 3722. |
Assertion: A Ltd issued 5,00,000, 9% Debentures of Rs.100 each on 1st April 2016,redeemable in 5 equal yearly instalments starting from 31st March2017. Rs.4,00,00,000 Debentures will be shown under Noncurrent liabilities and Rs.1,00,00,000 Debentures will be shown under Current liabilities Reason: Rs.1,00,00,000 Debentures are to be redeemed after the operating cycle of the company and will be classified as “Current maturities of long term borrowings. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» b) A is correct, but R is wrong |
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| 3723. |
Assertion: Amount received by the company as share application and against which the company will certainly allot shares should be shown under the head Share application money pending allotment Reason: The application money is received before the Balance sheet date and allotment will be made after the Balance sheet date. a) Both A and R are correctb) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» a) Both A and R are correct |
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| 3724. |
Assertion: A trading company sells its fixed assets through an agent. The agent is to be paid Rs.50,000 as fee which can be shown as Trade payables in the Balance sheet Reason: Trade payables are defined as the amount payable against purchase of goods or services taken in the normal course of business and includes both sundry creditors and bills payable. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» c) A is wrong, but R is correct |
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| 3725. |
Life membership fee of non-trading concern is:(a) Capital Receipt(b) Revenue Receipt(c) Both a and b(d) None of these |
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Answer» Life membership fee of non-trading concern is Capital Receipt |
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| 3726. |
How has english language impacted our society |
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Answer» English language is playing a significant role in society. Without English we can't do anything.It gives opportunity to go abroad because it has more influence over there.In India too we can contribute more to our nation to develop more by providing better exposure,improving linguistic skills,etc. |
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| 3727. |
Has she won the Wimbledon Tennis Tournament _____ ? A) just B) yet C) already D) since |
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Answer» Correct option is B) yet |
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| 3728. |
The bank are offering £500 ____ to anyone who can give them useful information about the robbery. A) cost B) price C) prize D) reward E) salary |
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Answer» Correct option is D) reward |
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| 3729. |
Assertion: A trading company sells its fixed assets through an agent. The agent is to be paid Rs.50,000 as fee which can be shown as Trade payables in the Balance sheetReason: Trade payables are defined as the amount payable against purchase of goods or services taken in the normal course of business and includes both sundry creditors and bills payable. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» Correct option is c) A is wrong, but R is correct |
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| 3730. |
Assertion (A): Accounting ratio is an arithmetic relationship between two independent variables.Reason (R): Accounting ratios can be expressed in pure form, percentage, times or fraction. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» Correct option is c) A is wrong, but R is correct |
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| 3731. |
My uncle died without _____ a will, and it was very difficult for our family to sort out his money and possessions. A) doing B) make C) get D) making |
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Answer» Correct option is D) making |
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| 3732. |
We love to play tennis, but if they close the park we ______ play tennis any more. A) can’ t B) won’ t be able to C) couldn’ t D) won’ t have to |
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Answer» Correct option is B) won’ t be able to |
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| 3733. |
According to some historians, if the United States had not used the atom bomb, the Japanese ______ half of the world. A) had conquered B) would conquer C) would have conquered D) had had conquered |
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Answer» Correct option is C) would have conquered |
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| 3734. |
Could the package ______ to the wrong address? A) being sent B) to be sent C) have been sent D) will be sent |
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Answer» Correct option is C) have been sent |
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| 3735. |
Beyond a certain point deficit financing will certainly lead to(a) inflation (b) deflation (c) recession (d) economic stagnation |
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Answer» (a) inflation |
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| 3736. |
"You bet" means _____. A) no B) certainly C) if I can |
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Answer» Correct option is B) certainly |
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| 3737. |
Assertion: Amount received by the company as share application and against which the company will certainly allot shares should be shown under the head Share application money pending allotmentReason: The application money is received before the Balance sheet date and allotment will be made after the Balance sheet date.a) Both A and R are correctb) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong |
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Answer» Correct option is a) Both A and R are correct |
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| 3738. |
We asked to see the manager and we _____ a complaint about the terrible service in the restaurant. A) did B) made C) had D) heard |
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Answer» Correct option is B) made |
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| 3739. |
My uncle _____ £500 on the stock exchange. A) keeps B) grows C) carries D) earns |
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Answer» Correct option is D) earns |
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| 3740. |
Mobile phones are changing the world we live in. Kenya was regarded as a poor (31) lacking hospitals, running water, electricity, education, (32) etc. Mobile phone technology has (33) all this. Today, 92 per cent of Kenyans (34) the Internet using their mobile phones. Farmers can (35) only check the prices of crops but also (36) with customers directly. Banking services (37) available through mobile phones, A (38) by the World Bank shows that (39) countries where more people use mobile phones (40) by 0.6 percent to 1.2 per cent every year. This technology has also helped the word come claser? Together as it allows people from different countries to interact with each other.A. neighbourB. performanceC. countryD. development |
| Answer» Correct Answer - C | |
| 3741. |
Alice ______ have been told about the problem because she was on vacation and could not be reached. A) shouldn’ t B) couldn’ t C) needn’ t D) must |
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Answer» Correct option is B) couldn’ t |
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| 3742. |
What do you understand by “Span of Control?” |
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Answer» Span of control refers to the number of subordinates that can be managed effectively and efficiently by supervisors or managers in an organization. |
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| 3743. |
Ann: “Is your sister good at English?” Ann asked me ___ . A) that my sister is good at English B) if my sister was good at English C) whether my sister is good at English D) my sister is good at English E)her sister was good at English |
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Answer» Correct option is B) if my sister was good at English |
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| 3744. |
What is my job?I help keep your teeth clean. |
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Answer» Correct answer is dentist |
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| 3745. |
“You must do what you are told”. She said ___ . A) that must do what I was told B) what have to do what I was told C) what had to do what I was told D) that she must do what she was told E) she had to do what she was told |
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Answer» Correct option is E) she had to do what she was told |
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| 3746. |
A: Why don’ t you call Rita? B: I ______ call her a few minutes ago, but her phone was busy. A) am B) do C) will D) did |
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Answer» Correct option is D) did |
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| 3747. |
We _____ a complaint to the manager because our meal was so bad. A) made B) said C) gave D) told |
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Answer» Correct option is A) made |
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| 3748. |
It seemed ______ that we would ______ have a crash. A) certain / final B) certain / finally C) certainly / finally D) certainly / final |
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Answer» Correct option is B) certain / finally |
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| 3749. |
We missed our flight to Paris because the connecting flight was late and to add insult to injury they made us pay for a new ticket as if it was our fault!A. to be compensatedB. to make a situation worseC. to be reprimandedD. to be praised |
| Answer» Correct Answer - B | |
| 3750. |
They were all strangers to me. I’d met______ of them before. A) either B) neither C) none D) all |
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Answer» Correct option is C) none |
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