Q.1.
- a 10 year, 5% coupon bond
- a 5 year, 5% coupon bond
- a 5 year, 10% coupon bond
- a 10 year, 10% coupon bond
Q.2.
- a corporator forces public for sell their lands to him
- a state forces people to sell their fields for building highway
- Both A & B
- None of the above
Q.3.
- alphabetized the accounts to make reading easier for its financial statement users
- summarize the transactions and determine their ending balances
- meet the information needs of a company and other financial statement users
- analyse the accounts and organize them in order of dollar amount to simplify the accounting information for users
Q.4.
- Non diversifiable
- Economic
- Systematic
- Total
Q.5.
- Sales tax
- Corporation tax
- Wealth tax
- Estate tax
Q.6.
- Assets,Expenses,and Common stock
- Assets,Dividends,and Expenses
- Assets,Expenses,and Revenues
- All of the above
Q.7.
- Because they do not change, fixed costs should be ignored in decision making.
- The fixed cost per unit decreases when volume increases.
- The fixed cost per unit does not change when volume decreases.
- The fixed cost per unit increases when volume increases.
Q.8.
- Income statement - Balance sheet - Statement of retained earnings
- Income statement - Statement of retained earnings - Balance sheet
- Balance sheet - Statement of retained earnings - Income statement
- Statement of retained earnings - Balance sheet - Income statement
Q.9.
- it provides a better indication of ability to generate cash flows than the cash basis.
- it recognizes revenues when cash is received and expenses when cash is paid.
- cash flows are considered less important.
- All of the above
Q.10.
- Safe investment avenue
- financial protection to surviving dependents after the death of an insured
- Tax rebates
- Wealth accumulation
Q.11.
- Control accounting
- Management accounting
- Cost accounting
- Both B & C
Explanation
Q.12.
- Government of India
- Banks
- State Government
- Share Market
Q.13.
- Trade makes some nations better off and others worse off
- Trading for a good can make a nation better off only if the nation cannot produce that good itself
- Trade helps rich nations and hurts poor nations
- Trade can make every nation better off
Q.14.
- general-purpose reports
- very detailed reports
- quarterly and annual reports
- external users
Q.15.
- revenues
- liability
- owner's equity
- All of the above
Q.16.
- the extent of government regulations
- preparing income tax returns
- safeguarding assets
- only manual systems of accounting
Q.17.
- Increase in the liability account
- Decrease in an asset account
- Increase in the capital stock account
- All of the above
Q.18.
- Savings account
- Stocks
- Bonds
- Certificates of deposit
Q.19.
- Help to solve Balance of Payment problems of member countries
- Act as private sector lending arm of the World Bank
- Finance investment loans to developing countries
- Arrange international deposits from banks
Q.20.
- identify the alternatives
- identify an etical situation and ethical issues involved
- weigh the impact of each alternative on various stakeholders.
- recognize and analyze the principal elements in the situation.