CUET UG 2023 — Financial Statements

A part of fixed Assets costing Rs. 2,00,000 (Book value Rs. 1,50,000) was sold at a gain of Rs. 10,000. How it will affect the cash flow statement?

Amount received from the sale of furniture for Rs. 7000 (Book value Rs. 10,000). The amount to be shown in receipts and payments account will be :

An annual report is furnished by a company to its :

Aradya Ltd. had debt equity ratio of 2.5 : 1. State which of the following transaction will not effect the Debt Equity Ratio :

Arrange the following in the context of Cash Flow Statement A. Calculation of cash flow from Operating Activities B. Calculation of cash flow from Financing Activities C. Calculations of net increase/decrease in cash and cash equivalent during the year D. Calculation of cash flow from Investing Activities E. Calculation of net profit before tax and extraordinary item Choose the correct answer from the options given below:

Arrange the following in the context of Statement of Profit and Loss. A. Other income B. Expenses C. Total Revenue D. Revenue from operation E. Profit before tax and extra-ordinary item Choose the correct answer from the options given below:

Arrange the following items of statement of profit and Loss in a sequence. (A) Total Revenue (B) Revenue from Operations (C) Other Income (D) Expenses (E) Profit Before Tax Choose the correct answer from the options given below :

C Ltd made a profit of Rs. 10,000 after charging depreciation of Rs. 2,000 on Assets, transfer to General Reserve Rs. 3,000, Written off Goodwill Rs. 700, Profit on sale of Asset Rs. 300, increase in Debtors Rs. 300, increase in creditors Rs. 600, increase in prepaid expenses Rs. 20 and decrease in outstanding expenses Rs. 200. What will be the cash from operating activities?

Calculate and state the nature of activity under cash flow statement : Acquired Machinery for Rs. 5,00,000 paying 50% by cheque and executing a bond for the balance payable :

Calculate cash flow from financing Activities of X Ltd. which is a financing company. Issue of shares Rs. 1,00,000 Issue of Bonus shares Rs. 50,000 Dividend paid Rs. 10,000 Interest paid Rs. 5,000

Calculate subscription of current year to be credited to Income and Expenditure account from the following information : Subscription Received Rs. 80,000, Subscription Received in Advance Last year Rs. 10,000, Subscription Received in Advance during this year Rs. 2,000 and Accrued Subscription at the end of current year Rs. 5,000 :

Calculate the amount of cash from sale of machinery from the following items : A machine costing Rs. 20,000 having book value of Rs. 15,000 is sold for Rs. 12,000 and depreciation charged during the year was Rs. 8,000. The opening and closing balance in machinery account was Rs. 1,80,000 and Rs. 1,72,000 respectively.

Capital gain tax paid on sale of fixed assets should be classified as _______

Cash equivalents refers to : (A) Demand deposits with Bank (B) Bills receivables (C) Treasury bill (D) Commercial Paper (E) Marketable Securities Choose the correct answer from the options given below :

Cave Ltd. made a profit of Rs. 1,50,000 after charging depreciation of Rs. 30,000 on assets and a transfer to general reserve of Rs. 30,000. The Goodwill amortised was Rs. 9,000 and gain on sale of machinery was Rs. 5,000. Operating profit before working capital changes will be :

Common Size Statements are also known as :

Current liabilities include : (A) Trade receivables (B) Unclaimed dividend (C) Interest accrued but not due on loan (D) Acceptances (E) 12% debentures redeemable after four years Choose the correct answer from the options given below :

Depreciation on furniture is:

Every company analyse its earning capacity of the business which is outcome of utilisation of resources employed in the business. To analyse profitability company can use: A. Dividend Payout Ratio B. Return on Net Worth C. Gross Profit Ratio D. Quick Ratio E. Inventory Turnover Ratio Choose the choose answer from the option given below:

Find out cash form financing Activities from the following information. | Item | Amount | |---|---| | Issue of Equity Shares | Rs. 80,000 | | Redemption of Preference Shares | Rs. 30,000 | | Interim Dividend Paid | Rs. 25,000 | | Interest on Debentures | Rs. 15,000 | | Issue of Debentures | Rs. 30,000 |

Find out cost of medicine consumed during 2020-21. | Particulars | Amount (Rs.) | |-------------|--------------| | Payment to creditors of medicines | 3,70,000 | | Creditors for medicines purchased on 1.04.2020 | 25,000 | | Creditors for medicines purchased on 31.03.2021 | 17,000 | | Stock of Medicines on 1.04.2020 | 62,000 | | Stock of Medicines on 31.03.2021 | 54,000 | | Advance to suppliers on 1.04.2020 | 11,000 | | Advance to suppliers on 31.03.2021 | 18,000 |

Identify the cash transaction from the following :

Identify the correct sequence of different items to be shown in a Balance-Sheet of a company. (A) Trade payable (B) Non-Current Investments (C) Deferred tax Liabilities (D) Intangible Assets (E) Long term borrowing Choose the correct answer from the options given below :

Identify the other name by which Liquid ratio is known :

Identify the ratio which is not computed for evaluating solvency of the business.

Identify the salient features of Income and Expenditure account from the following: A. It is prepared on accrual basis. B. It includes both revenue as well as capital items. C. It is prepared after taking into account the additional information regarding outstanding/prepaid expenses and depreciation etc. D. Its result is surplus or deficit. E. It is prepared with the help of Receipts and Payments Account. Choose the correct answer from the options given below:

Identify the term that indicate excess of Expenditure over Income, in case of a Not-for-profit Organisation.

Identify the term that is used to show the amount received as per the will of a deceased person.

If the credit side of Receipt and Payment A/c is more than the debit side then the difference will be shown as :

If there appears a Tournament Fund, then the expenses incurred on Tournament activities will be shown :

Intangible assets should be recognised by fulfilling the criteria as recognised under :

Loss on sale of furniture is

Match List - I with List - II. | List - I | List - II | |----------|-----------| | (A) The Accounting basis for Cash Flow Statement is | (I) Investment in shares | | (B) Dividend paid on Equity and Preference capital comes under | (II) Cash Basis | | (C) It can not be considered as cash and cash equivalents | (III) Treasury bills | | (D) It can be classified as cash and cash equivalents | (IV) Cash outflow from Financing Activities | Choose the correct answer from the options given below :

Match List - I with List - II. | List - I | List - II | |---|---| | (A) Share Capital | (I) 10% debenture | | (B) Reserve and Surplus | (II) Interest accrued and due | | (C) Non-current Liability | (III) Share forfeited account | | (D) Current Liability | (IV) Capital Redemption Reserve | Choose the correct answer from the options given below :

Match List - I with List - II. | List - I | List - II | |----------|-----------| | (A) Current Ratio | (I) Solvency Ratios | | (B) Inventory Turnover Ratio | (II) Liquidity Ratios | | (C) Return on Investment | (III) Profitability Ratios | | (D) Proprietory Ratio | (IV) Activity Ratios | Choose the correct answer from the options given below :

Match List I with List II | LIST I | LIST II | |---|---| | A. Interest charges | I. Employees Benefit Expenses | | B. Sale of services | II. Other incomes | | C. Salary | III. Revenue from Operations | | D. Dividend Income | IV. Finance cost | Choose the correct answer from the options given below:

Match List I with List II | LIST I | LIST II | |---|---| | A. Horizontal Analysis | I. Common size statement | | B. Vertical Analysis | II. Comparative statement | | C. External Analysis | III. Access to all published and unpublished information | | D. Internal analysis | IV. Access only to published information | Choose the correct answer from the options given below:

Match List I with List II | LIST I | LIST II | |---|---| | A. Employee benefit expenses | I. Investing activity | | B. Dividend received | II. Operating activity | | C. Loan raised | III. Extraordinary item | | D. Proceeds from earthquake disaster management | IV. Financing activity | Choose the correct answer from the options given below:

Match List I with List II | LIST I | LIST II | |---|---| | A. Current Maturities of long term Debt | I. Other Non-Current Liabilities | | B. Securities Premium | II. Short term Borrowing | | C. Outstanding salaries | III. Other Current Liability | | D. Premium on Redemption of Debentures | IV. Reserves and Surplus | Choose the correct answer from the options given below:

Match List I with List II | LIST I | LIST II | |---|---| | A. Operating Profit Ratio | I. Solvency Ratios | | B. Working Capital Turnover Ratio | II. Liquidity Ratios | | C. Debt-Equity Ratio | III. Activity Ratios | | D. Quick Ratio | IV. Profitability Ratios | Choose the correct answer from the options given below:

Match List I with List II | LIST I | LIST II | |---|---| | A. Capital Reserve | I. Current Assets | | B. Inventories | II. Non-Current Liabilities | | C. 8% Debentures | III. Current Liabilities | | D. Provision for tax | IV. Reserve and Surplus | Choose the correct answer from the options given below:

Net Capital Employed is equal to : (A) Fixed Assets + Current Assets - Long term liabilities (B) Non current Assets + Current Assets - Current liabilities (C) Fixed Assets + Current Assets - Equity (D) Equity + Debt (E) Current Assets - Current liabilities Choose the correct answer from the options given below :

Non-Cash transactions will be excluded from :

Other income is Rs. 5,00,000 which is 25% of Revenue from operations. Employees benefit Expenses are 30% of the Revenue from operation. Tax rate is 40%. Net profit after tax will be :

| Particulars | Amount (Rs.) | |---|---| | Inventory at the beginning | 40,000 | | Credit Purchase | 1,60,000 | | Inventory at the end | 38,000 | | Trade payable at the beginning | 14,000 | | Trade payable at the end | 14,500 | Cash paid for inventory is:

Pick the odd one out while Calculating Cash Flow from Financing Activities :

Select the sub-head under which loose tools will be shown in the Balance Sheet of a company -

Separate disclosure of cash flow arising from Financial Activities is important because

Subscription Received in Advance is a :

Tax paid on capital gains by the company is shown in Cash Flow Statement as :

The closing value of Building as on 31.3.2017 was:

The following are the items appearing in Equities and Liabilities side of Balance Sheet A. Deferred tax Assets (Net) B. Reserve and Surplus C. Deferred tax Liabilities (Net) D. Long term borrowings E. Long term loans and Advances Choose the correct answer from the options given below:

The total expenses on account of salary to be debited to Income and Expenditure A/c for the year 2016-17 was:

Trade payables to be settled beyond 12 months from the date of Balance sheet or beyond the operating cycle are classified under:

Tuition fee to be credited to Income and Expenditure account is:

W Ltd has given you following information | Item | Amount | |---|---| | Machinery (opening Balance) | Rs. 50,000 | | Machinery (closing Balance) | Rs. 60,000 | | Accumulated Depreciation (opening balance) | Rs. 25,000 | | Accumulated Depreciation (closing balance) | Rs. 15,000 | During the year, a machine costing Rs. 25,000 with accumulated depreciation of Rs. 15,000 was sold for Rs. 13,000. Calculate Cash Flow from Investing Activity

What is the correct sequence to prepare company's Balance Sheet as per the standard format given according to schedule III of Companies Act 2013? A. Non Current Liability B. Non Current Assets C. Shareholder's Fund D. Current Assets E. Current Liability Choose the correct answer from the options given below:

What will be Interest Coverage Ratio, when 20% Long term Debt is Rs. 10,00,000, Tax Rate 40% and Net profit After Tax is Rs. 6,00,000.

What will be the accounting treatment of outstanding expenses in the Income and Expenditure A/c. (A) Added in main or concerned head (B) Subtracted from main head (C) Shown in Balance-Sheet as Liability (D) Will not be shown in Income and Expenditure A/c (E) Shown in Receipt and Payment A/c only Choose the correct answer from the options given below :

Which of the following item is not a tool of financial statement analysis?

Which of the following items are part of Intangible non current Assets: A. Patents B. Furniture C. Statement of Profit & Loss A/c (Dr) D. Goodwill E. Trademark Choose the correct answer from the options given below:

Which of the following will be added to operating profit before working capital changes, while preparing Cash Flow statement from indirect method?