CUET UG Accountancy — Financial Statements previous year questions with solutions.
Match List-I with List-II | List-I | List-II | |---|---| | (A) Operating Activities | (I) Current Investment | | (B) Investing Activities | (II) Dividends paid on equity and preference capital | | (C) Financing Activities | (III) Cash receipt from disposal of fixed assets including intangibles | | (D) Cash equivalents | (IV) Cash receipts from royalties, fees, commissions and other revenues | Choose the correct answer from the options given below:
Balance Sheet provides information about financial position of the enterprise:
Choose a pair of correct statements (A) The only purpose of financial reporting is to keep the managers informed about the progress of operations. (B) Analysis of data provided in the financial statements is termed as financial analysis. (C) Long-term borrowings are concerned about the ability of a firm to discharge its obligations to pay interest and repay the principal amount. (D) The ratio reflects quantitative and qualitative aspects of the results. Choose the correct answer from the options given below:
Trade Receivable Turnover Ratio is-
Calulate Current Ratio from the following information: | Particulars (Rs.) | Amount (in Rs) | |---|---| | Inventories | 60,000 | | Trade receivables | 60,000 | | Advance tax | 4,000 | | Cash and cash equivalents | 50,000 | | Trade payables | 1,30,000 | | Bank Overdraft | 4,000 |
Match List-I with List-II | List-I | List-II | |---|---| | (A) Liquidity Ratios | (I) Debt to Capital Employed Ratio | | (B) Solvency Ratios | (II) Net profit ratio | | (C) Activity Ratios | (III) Current Ratio | | (D) Profitability Ratios | (IV) Working capital Turnover Ratio | Choose the correct answer from the options given below:
Average payment period is -
Average Trade payables is-
Trade payable turnover ratio is-
Calculate credit revenue from operations using following information: Total revenue from operations : Rs 4,00,000, Cash received from operations are 25% of Credit revenue from operations.
Match List-I with List-II | List-I | List-II | |---|---| | (A) Comparative Statements | (I) It describes the significant relationship which exists between various items of a balance sheet and a statement of profit and loss of a firm. | | (B) Common Size Statements | (II) It is a technique of studying the operational results and financial position over a series of years. | | (C) Trend Analysis | (III) These are the statements which indicate the relationship of different items of a financial statement with a common item by expressing each item as a percentage of that common item. | | (D) Ratio Analysis | (IV) These are the statements showing the profitability and financial position of a firm for different periods of time. | Choose the correct answer from the options given below:
_________ are especially interested in the average payment period, since it provides them with a sense of the bill-paying patterns of the firm.
Arrange different items of Balance Sheet as per revised Schedule III to the Companies Act, 2013- (A) Shareholder's Funds (B) Non-Current Assets (C) Current Liabilities (D) Share Application money pending allotment (E) Current Assets Choose the correct answer from the options given below:
Which of the following is True about analysis of financial statements- (A) The financial statements of a business enterprise include cash flow statement. (B) Financial analysis is used only by the creditors. (C) Comparative statements are the form of horizontal analysis. (D) Financial analysis helps an analyst to arrive at a decision. Choose the correct answer from the options given below:
Match List-I with List-II | List-I | List-II | |---|---| | (A) Shareholders fund | (I) Long-term loans and advances | | (B) Non-current Liabilities | (II) Reserves and Surplus | | (C) Current Liabilities | (III) Long term provisions | | (D) Non-Current Assets | (IV) Trade payables | Choose the correct answer from the options given below:
The _________ may indicate that the firm is experiencing stockouts and lost sales.
Arrange different Classification of Activities for the Preparation of Cash Flow Statement- (A) Cash and Cash equivalents (B) Cash flow from Financing Activities (C) Cash flow from Investing Activities (D) Cash flow from Operating Activities Choose the correct answer from the options given below:
Which of the following statements are True about ratio analysis- (A) A ratio reflects quantitative and qualitative aspects of results. (B) Long-term borrowings are concerned about the ability of a firm to discharge its obligations to pay interest and repay the principal amount (C) A ratio is always expressed as a quotient of one number divided by another. (D) Ratios help in comparisons of a firm's results over a number of accounting periods as well as with other business enterprises. Choose the correct answer from the options given below:
Match List-I with List-II | List-I | List-II | |---|---| | (A) Liquidity Ratio | (I) Trade payable Turnover Ratio | | (B) Solvency Ratio | (II) Quick Ratio | | (C) Activity Ratio | (III) Proprietary Ratio | | (D) Profitability Ratio | (IV) Price earning ratio | Choose the correct answer from the options given below:
The current ratio is 2.5 : 1. Current assets are Rs. 50,000 and current liabilities are Rs. 20,000. How much must be the reduction in the current assets to bring the ratio to 2 : 1
Arrange Financial Statements in Correct Sequence- (A) Cash Flow Statement (B) Balance Sheet (C) Profit and Loss A/c (D) Trading Account Choose the correct answer from the options given below:
Which of the following items are included under Reserve and Surplus : (A) Security Premium reserve (B) Revaluation reserve (C) Share option outstanding account (D) Reserve Capital Choose the correct answer from the options given below:
Arrange the following balance sheet items in accordance with the manner prescribed in the revised Schedule III to the Companies Act, 2013- (A) Current Assets (B) Shareholder's Funds (C) Non-current Liabilities (D) Non-Current Assets (E) Current Liabilities Choose the correct answer from the options given below:
Which of the following combination of statements are NOT true- (A) Financial analysis is used only by the creditors. (B) Comparative statements are the form of vertical analysis (C) The financial statements of a business enterprise include cash flow statement. (D) Ratio analysis establishes relationship between two financial statements. Choose the correct answer from the options given below: