Accountancy Financial Statements questions from CUET UG 2022.
A Club has Opening balance of Rs.8,50,000 in Match fund. Donation received for match during the current year amounted to Rs. 4,25,000. Sale of match tickets amounted to Rs. 1,15,000. Match expenses incurred were Rs.14,00,000 Balance in the Match fund at the year end will be:
A low stock turnover ratio indicates:
According to AS-3, cash proceeds from issue of share is:
Amount of Security Premium Reserve will be shown in
Amount of subscription credited during the year will be
Apast from showing interim dividend in Net Profit before tax, where else it will be shown ?
Arrange the following into correct sequence while computing cash flow from operating activies. (a) Compute Net Profit before tax after making necessary adjustments. (b) Compute operating profit before working capital changes by making adjustment for non-cash and non-operating activities. (c) Calculate the difference between opening and closing balance in statment of profit and loss. (d) Compute operating profit by making adjustment for working capital changes. (e) Calculate cash generated/cash used from operating activities by deducting tax paid from operating profit. Choose the correct answer from the options given below :
Arrange the following items to be in order while making Cash Flow Statement as per AS.3 (a) Income Tax paid (b) Purchase of Furniture (c) Good will written off (d) Debentures issued (e) Shares purchased Choose the correct answer from the options given below :
Calculate Current Ratio from the following given information. Liquid Ratio 0.75 : 1 Current Liabilities Rs. 1,80,000 Prepaid Expenses Rs. 20,000 Inventory Rs. 47,250
Calculate prize fund expenses incurred during the year 2021-22 from the following information Prize fund as on 1 April, 2021 Rs. 80,000 Donation received for Prize Fund Rs. 15,000 10% Prize Fund Investment Rs. 80,000 Interest Received Rs. 5,000 Interest Accrued Rs. 3,000 Prize fund as on 31 March, 2022 Rs. 70,000
Calculate subscription received during the year 2021-22 from the following information : Amount of subscription credited to Income and Expenditure A/c for the year ended 2021-22 Rs. 1,05,000 Subscription received in advances as on 31 March, 2022 Rs. 10,000 Subscription received in advances as on 31 March, 2021 Rs. 7000 Subscription outstanding as on 31 March, 2021 Rs. 10,500 Subscription outstanding as on 31 March, 2022 Rs. 20,500
Calculate the amount of cash generated from operations from the following information : | Particulars | (Rs.) | | --- | --- | | Profit before change in working capital | 2,00,000 | | Depreciation on plant and Machinery | 20,000 | | Gain on sale of Building | 10,000 | | Increase in trade Paybles | 4,500 | | Increase in trade Receivables | 3,500 | | Interest paid | 2,225 | | Decrease in Inventories | 3,750 | | Redemption of 10% Debentures | 80,000 |
Cash Advance and Loan made to third party (other than made by financial enterprise) is
Cash flow from Operating Activities will be Rs. ________
Cash flow statement helps in which form of financial planning?
Cash from operating activities before tax will be Rs. ________
Cash from operations will be if Total sales Rs. 5,00,000 Credit sales Rs. 2,25,000 Total Purchases Rs. 2,48,000 Credit Purchases Rs. 1,08,000 Cash Operating expenses Rs. 40,000
Cash payment to and on behalf of employees is:
Collections from book debts:
Common size analysis is also known as
Common Size Statement are also known as:
Common size statements are the form of:
Comparative Statements are also known as:
Comparative statements are the form of:
Current ratio is 2.5, current liabilities Rs. 25,000, the amount of current assets will be:
Debt-equity ratio is a sub-part of:
Dividend paid by TATA Ltd. is which activity for the company?
Dividend received by Hero Ltd. would be _______ activity
Earning Capacity of a Company is measured by:
Financial statements are:
Financial Statements of a company does not include
Find out Net Profit before tax from the above informations :
Following items are categorised under Operating Activities: A. Purchase of Goodwill B. Transfer to General Reserve C. Issue of fresh shares D. Gain on sale of machinery Choose the correct answer from the options given below:
For calculating EPS, the following order will be followed. (A) Calculate number of equity shares (B) Calculate earning available for equity share holders (C) Compute profit after tax (D) Compute EPS Choose the correct answer from the options given below :
From among the following, choose the item which would be mentioned in financing activity also:
From the following information calculate how much amount of depreciation will be shown in the Income and Expenditure A/c for the year 2021-22 : | | As on 31 March, 2021 | As on 31 March, 2022 | |---|---|---| | Furniture | Rs. 1,80,000 | Rs. 1,60,250 | Furniture worth Rs. 8,000 was sold for Rs. 10,000 on 1 April, 2021.
From the following information of I Ltd., calculate Net Increase / Decrease in cash and cash equivalents during the year 2021-22. i) Cash flow from Operating Activities: Rs. 2,35,000 ii) Cash used in investing Activities: Rs. 4,35,000 iii) Cash flow from financing activities: Rs. 2,35,000
From the following information of X Ltd, calculate Cash Flow from Financing Activities. | | April 1, 2021 | March 31, 2022 | |---|---|---| | Long-term Loan | 2,00,000 | 2,60,000 | During the year, the company repaid a loan of Rs. 1,00,000. Long-term loan carried interest rate of 10%. The loan was repaid on 1st April 2021 and a fresh loan was taken on 31st March 2022.
Horizontal analysis is known as:
How sale of equipment Rs. 90,000 (Book value Rs. 1,00,000) should be shown in the cash flow statement?
Identify the Cash Outflow from Financing Activity
Identify the components of equity: A. Money received against share warrants B. Working capital C. Share capital D. Reserves & surplus E. Cash Revenue from operations Choose the correct answer from the options given below:
Identify the correct sequence in calculation of Cash Flow from Operating Activities. (A) Addition and subtraction of Non cash/Non operating items (B) Payment of income tax (C) Calculation of operating profit before working capital changes. (D) Calculation of net profit/loss before tax and extraordinary items Choose the correct answer from the options given below :
Identify the correct sequence of current assets in company's Balance sheet? A. Bills Receivables B. Cash & cash equivalents C. Short term loans & advances D. Inventories E. Current investments Choose the correct answer from the options given below:
Identify the correct sequence to find out profit after tax while preparing comparative income statement A. Deduct expenses B. Find out total revenue by adding other incomes to revenue from operations C. Find out profit after tax D. Deduct tax E. Calculate profit before tax Choose the correct answer from the options given below:
Identify the items NOT be shown under Investing Activities while making Cah Flow statement. (a) Proposed Dividend (b) Purchase of non-current Investments (c) Interest paid on long term borrowings (d) Sale of machinery (e) Marketable securities Choose the most appropriate answer from the options given below :
Identify the items not to be shown under Financing activities while making cash flow:- A. Payment of dividend and interest B. Interest paid by financial enterprise C. Redemption of debentures D. Proceeds from issue of equity shares E. Loss due to theft Choose the correct answer from the options given below:
Identify the limitations of financial statements : A. Can be biased B. Report on stewardship function C. Aggregate information D. Only interim reports E. Basis of fiscal policies Choose the correct answer from the options given below:
If a machinery is purchased, how will it be treated while preparing the cash flow statement as per AS-3 (Revised)?
If debentures are converted into equity shares, it is a/an : _____
If from the above informations, cash flow from operating activity is ascertained, then it is ascertained according to Accounting standard :
If net profit made during the year are Rs. 50,000 and the bills receivables have decreased by Rs. 10,000 during the year then the cash flow from operating activities will be:
If the net operating profit of the business is Rs. 90,000 and the debtors have decreased during the year by Rs. 40,000. Cash from operations is:
If the net profit earned during the year is Rs. 1,00,000 and the amount of Bills receivables in the beginning and the end of the year is Rs. 20,000 and Rs. 40,000 respectively, then cash flow from operating activities will be:
If the net profit earned during the year is Rs.50,000 and amount of Depreciation during the year is Rs.15,000, then the cash flow from operating activities will be equal to Rs. _______.
If there are Fixed assets of Rs.10,00,00 Current assets of Rs.6,00,000, Current liabilities of Rs.3,00,000 and Net profit before Interest and Tax of Rs.2,60,000; then Return on Investment will be:
If there is Revenue from Operation Rs. 1,20,000 and gross profit is 20% of cost, then the amount of gross profit will be :
In common size statement, if revenue from operations are Rs. 23,00,000 and other incomes are Rs. 3,00,000, then the percentage of 'Total Revenue from Operations' to 'Revenue from operations' will be:
In the above case study if amount of Goodwill is increasing in current year, then if will be classified in :
Income ad Expenditure Account is prepared on (a)_________ basis, while Receipts and Payments Account is prepared on (b)_________ basis.
Interest paid on debentures by a manufacturing company would be
Land donated by neighbor is
Life Membership fees of Rs.25,000 is
Long-term solvency is indicated by:
Make the right combination of the ratios that enables to find the short term liquidity. (a) Return on Equity (b) Acid Test Ratio (c) Current Ratio (d) Sacrificing Ratio (e) Inventory Turnover Ratio Choose the most appropriate answer from the options given below :
Make the right combination of the ratios that enables to find the short term liquidity A. Return on Equity B. Acid Test Ratio C. Sacrificing Ratio D. Inventory Turnover Ratio E. Current Ratio Choose the correct answer from the options given below:
Match List - I with List - II. | List - I | List - II | |---|---| | (A) Bank overdraft | (I) Non cash item | | (B) Dividend received | (II) Financing activity | | (C) Provision for doubtful debts | (III) Operating activity | | (D) Cash received from sale of goods | (IV) Investing activity | Choose the correct answer from the options given below :
Match List - I with List - II. | List - I | List - II | |---|---| | (A) Receipts and Payment A/c | (I) Special fund | | (B) Capital receipt | (II) Life membership fees | | (C) Match fund | (III) Accrual basis | | (D) Income and Expenditure A/c | (IV) Cash basis | Choose the correct answer from the options given below :
Match List - I with List - II. | List - I | List - II | |---|---| | (A) Operating Activities | (I) Issue of equity shares | | (B) Investing Activities | (II) Purchase of Marketable securities | | (C) Financing Activities | (III) Cash sales | | (D) Cash Equivalent | (IV) Purchase of fixed assets | Choose the correct answer from the options given below :
Match List - I with List - II | List - I | List - II | | --- | --- | | (a) Working Capital Turnover Ratio | (i) $\frac{\text{Quick Assets}}{\text{Current liabilities}}$ | | (b) Acid Test Ratio | (ii) $\frac{\text{Operating Profit}}{\text{Rev. from operations}} \times 100$ | | (c) Operating Profit Ratio | (iii) $\frac{\text{Revenue from operation}}{\text{Working capital}}$ | | (d) Trade Payables Turnover Ratio | (iv) $\frac{\text{Net Credit Revenue from operation}}{\text{Average Trade payables}}$ | Choose the correct answer from the options given below :
Match List - I with List - II | List - I | List - II | | --- | --- | | (a) Honorarium | (i) Asset side of balance sheet | | (b) Life Membership Fees | (ii) Credited to Income and Expenditure Account | | (c) General Donations | (iii) Debited to Income and Expenditure Account | | (d) Outstanding subscription | (iv) Credited to Capital Fund | Choose the correct answer from the options given below :
Match List I with List II in context g cashflow statement | | LIST I | | LIST II | |---|---|---|---| | A. | Sale of fixed asset | I. | Outflow in operating activities | | B. | Purchase of Goodwill | II. | Inflow in Investing Activities | | C. | Tax Paid | III. | Outflow in Investing Activities | | D. | Dividend Paid | IV. | Outflow in Financing Activities | Choose the correct answer from the options given below:
Match List I with List II | | LIST I: Major Head | | LIST II: Sub Head | |---|---|---|---| | A. | Fixed assets | I. | Short term provisions | | B. | Current Assets | II. | Money received against share warrants | | C. | Current Liabilities | III. | Non current investment | | D. | Shareholder's Funds | IV. | Inventories | Choose the correct answer from the options given below:
Match List I with List II | List I | List II | |---|---| | A. Intangible Assets | I. Provision for taxation | | B. Short term provision | II. Trade creditor | | C. Long term borrowings | III. 10% debentures | | D. Current liabilities | IV. Goodwill | Choose the correct answer from the options given below:
Match List I with List II | List I | List II | |---|---| | A. Debt Equity Ratio | I. Primarily indicates the rate of external funds in financing assets. | | B. Total assets to Debt ratio | II. Higher proportion provides security to creditors | | C. Proprietary ratio | III. It reveals the efficiency of business in utilization of funds | | D. Return on Investment | IV. It measures degree of indebtness of an enterprise | Choose the correct answer from the options given below:
Match List I with List II | | LIST I | | LIST II | |---|---|---|---| | A. | Cash Equivalents | I. | Interim Dividend paid | | B. | Financing Activities | II. | Selling & Distribution expenses paid | | C. | Operating Activities | III. | Marketable securities | | D. | Investing Activities | IV. | Dividend received on Shares held as investment | Choose the correct answer from the options given below:
Match List I with List II | List I | List II | | --- | --- | | A. Liquidity Ratio | I. Proprietary Ratio | | B. Solvency Ratio | II. Current Ratio | | C. Activity Ratio | III. Earning per Share | | D. Profitability ratio | IV. Current assets turnover ratio | Choose the correct answer from the options given below:
Match List I with List II | List I | List II | |---|---| | A. Operating Activities | I. Issue of shares | | B. Investing Activities | II. Bank Balance | | C. Financing Activities | III. Sale and purchase of goods and services | | D. Cash and cash equivalent | IV. Buying of fixed assets | Choose the correct answer from the options given below:
Match the following with regard to Cash Flow Statement | List I | List II | |---|---| | A. Operating activity | I. Raising of loan | | B. Investing activity | II. Current investment | | C. Financing activity | III. Selling of investment | | D. Cash and Cash equivalent | IV. Buying of raw material | Choose the correct answer from the options given below:
Match the following with regard to company's Balance Sheet. | List I | List II | |---|---| | A. Shareholders funds | I. Furniture and Fittings | | B. Current liabilities | II. Prepaid expenses | | C. Current Assets | III. Calls in Advance | | D. Non current assets | IV. Surplus of Balance on statement of P and L | Choose the correct answer from the options given below:
Net profit before tax will be Rs. ________
Nitin Ltd. provides you the following information. | Particulars | 1 April 2021 | 31 March 2022 | |---|---|---| | Machinery | 2,40,000 | 3,50,000 | | Accumulated Depreciation | 50,000 | 45,000 | During the year, a machine costing Rs. 90,000 with accumulated depreciation of Rs. 31,500 was sold for Rs. 52,000. Calculate Cash Flow from Investing Activities on the basis of the above information.
On 1st April 2020, the balance of furniture of ABC Ltd. was Rs. 20,000. During the year furniture costing Rs. 4,000 was sold at a gain of Rs. 3,000. Depreciation was charged on it Rs. 5,000. The balance of furniture on 31.3.21 was Rs. 28,000. The amount of furniture purchased was :
Operating Expenses include A. Rent paid B. Interest paid on loan C. Selling and Distribution Expenses D. Commission Received E. Salaries Paid Choose the correct answer from the options given below:
Operating Profit before working capital changes will be Rs. ________
Operating profit before working capital charges amounted to Rs.85,000. The following further information is given | | 31.3.2020 (Rs.) | 31.3.2019 (Rs.) | |---|---|---| | Cash | 36,000 | 30,000 | | Trade receivable | 18,000 | 12,000 | | Provision for tax | 9,000 | 8,000 | | Trade payables | 20,000 | 16,000 | | Bank over draft | 18,000 | - | The Net cash flow from operating activities after tax is.
Operating Profit Ratio of XYZ Ltd. is 60%. The operating ratio of XYZ Ltd. is:
Payment made for stationary during the year 2021 - 22 is Rs. 46,000. Stock of stationary as on 1-4-2021 Rs. 8,000 Stock of stationary as on 31-3-2022 Rs. 6,000 Advance for stationary as on 1-4-2021 Rs. 18,000 Advance for stationary as on 31-3-2022 Rs. 5,000 What will be the amount of stationary consumed during the year 2021 - 22 ?
Purchase of goodwill is considered in _______ activity while making Cash Flow Statement.
Rearrange the following items in a sequence while preparing common size statement. (A) Calculate percentage of the total as per common base (B) Prepare the format of Balance sheet and Profit and Loss A/c (C) List out absolute figures in rupees at two points of time (D) Choose a common base Choose the correct answer from the options given below :
Receipt and Payment a/c for the year ending 31.3.22. | Locker Rent | Rs.17,050 | |---|---| Additional Information: Locker rent Rs.3,050 outstanding for the year 2020-21 and Rs.1,500 for 2021-22. Locker rent received on advance at the end of current year i.e on 31.3.22 is Rs.1,000. What amount of Locker Rent will be shown in Income and Expenditure A/c? Choose the correct option:
Sale of copy rights are considered as a part of
Separate disclosure of cash flows from ________ activities is important because they represent the extent to which expenditure have been made for resources intended to generate future income and cash flows:
Sports material consumed during financial year 2022-2023 will be of
The closing balance of Receipts and Payments Account depicts _________.
The commonly used Techniques of financial Statements Analysis includes : (A) Common size statements (B) Ratio Analysis (C) Trend Analysis (D) Capital Budgeting Statement Choose the correct answer from the options given below :
The comparative financial statements show:
The ideal Debt Equity Ratio is :
The main objective of common size statement of profit and loss is:
The ratios calculated to measure the short term commitments of business is
The Receipts and Payments Account of Lead Sports Club showed payment for sports materials as Rs. 46,000 for the year ended 31st March 2022. Additional Information provided is as follows : | Details | 31st March 2021 | 31st March 2022 | | --- | --- | --- | | Stock of sports Materials | Rs. 8,000 | Rs. 6,000 | | Creditors | Rs. 18,000 | Rs. 5,000 | Calculate the amount of Sports Materials consumed during the year ended 31st March 2022.
The term Financial Analysis includes
There are 500 members in a Rotary club, who provide medical services to poor people in backward area. Each member pays 1,000 Rs. as subscription. During financial year 100 members paid partial subscription of Rs.80,000. 10 members left without giving yearly subscription. Amount received during current financial year will be
Treatment of construction of pavilion is
Value of 12% government securities as at 31 March 2021 was Rs. 85,000 which were purchased at that date at par. Additional 12% securities worth Rs. 50,000 were purchased on 31 March, 2022. Total interest debited to receipts and payments A/c during the year on the above securities is Rs. 9,000 calculate Accrued interest on 31 March, 2022.
Vertical analysis uses financial data of a company for:
We add depreciation in order to find out operating profit before working capital changes :
What are the different types of liquidity ratios A. Interest coverage ratio B. Current ratio C. Inventory turnover ratio D. Gross profit ratio E. Acid test ratio Choose the correct answer from the options given below:
What is gross profit ratio? Gross sales Rs. 7,60,000 Sales returns Rs. 40,000 Net Profit after interest Rs. 40,000 Indirect expenses Rs. 60,000 Interest paid on debentures Rs. 20,000
What is Gross Profit Ratio if? Total sales Rs. 6,00,000 Sales returns Rs. 50,000 Cost of goods sold Rs. 4,40,000
What is the Cash flow from investing activities?
When the ratio is low, the firm is said to have favourable indication.
Which among the following are sources of cash inflow from Investing Activities ? (A) Dividend Received from investment (B) Cash Receipt from Disposal of shares (C) Cash Receipt from Disposal of Fixed Assets (D) Cash proceeds from issuing Shares and Debentures Choose the correct answer from the options given below :
Which among the following are the non-cash items? A. Deferred Tax B. Goodwill write-off C. Depreciation D. Increase in Stock Choose the correct answer from the options given below:
Which among the following items appear in the Receipt and Payment Account ? (A) Life membership fees (B) Depreciation of fixed assets (C) Provision of doubtful debts (D) Profit/loss on sale of fixed assets Choose the correct answer from the options given below :
Which items are not added to the net profit for calculating cash from operating activities? (I) Interest and dividend received (II) Transfer to reserves (III) Discount on issue of shares (IV) Loss on sale of fixed assets
Which of the following is an in flow of cash in financing activity?
Which of the following is not included in Non-current liabilities, while preparing a Balance Sheet of a company :
Which of the following ratios is not a profitability ratio?
Which of the following transaction will increase Current Ratio but will decrease Debt Equity Ratio?
Which one higher ratio is not favourable?
Which one of the following activities relate to financing activities?
Which one of the following is not a 'Cash Outflow'?
Which one of the following is not true?
Which one of the following items will be added in debit balance of cash book in the preparation of bank reconciliation statement?
Which one of the following statement is false?
Which one of the following statements is true?
While preparing common-size Balance sheet, each item of Balance sheet is expressed as % of
X Ltd. has a Current Ration of 3.5 : 1 and Quick Ratio of 2 : 1. If excess of current assets over quick assets represented by inventories is Rs. 24,000. Calculate current liabilities.
X Ltd. sold machinery having a book value of Rs. 25,000 (on which accumulated depreciation of Rs. 5,000 had been charged) at a profit of Rs. 3,000. The cash flow from investing activities will be :