Financial Statements PYQ — Page 6

Which entries are correct in accordance with the manner prescribed in the revised Schedule III to the Companies Act, 2013- (A) The shareholders' funds are sub-classified as Share Capital, Reserves and Surplus & Money received against Share Warrants. (B) Reserves and Surplus include Revaluation Reserve. (C) Both tangible and intangible assets are current assets. (D) Deferred tax assets/liabilities are always non-current. Choose the correct answer from the options given below:

Return on Shareholders' Funds

EPS ( Earning per share)-

Profit before interest and tax-

Return on Investment is

P/E Ratio (Price Earning Ratio)

Gross profit ratio of a company was 25%, its credit revenue from operations was Rs. 20,00,000 and its cash revenue from operations was 20% of the total revenue from operations. If the indirect expenses of the company was Rs. 50,000. Calculate its net profit.

Match List-I with List-II | List-I | List-II | |---|---| | (A) Cash Outflows from financing activities | (I) Redemption of debentures | | (B) Cash Inflows from operating activities | (II) Current Investment | | (C) Cash and cash equivalents | (III) Cash from royalties, fees, commissions and other revenues | | (D) Cash Inflows from investing activities | (IV) Cash receipt from disposal of fixed assets including intangibles | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | Accounting ratio | Type of accounting ratio | | (A) Current ratio | (I) Liquidity ratios | | (B) Stock turnover ratio | (II) Activity ratios | | (C) Debt Equity ratio | (III) Solvency ratios | | (D) Operating ratio | (IV) Profitability ratios | Choose the correct answer from the options given below:

A trader carries an average inventory of Rs. 40,000. His inventory turnover ratio is 8 times. If he sells goods at a profit of 20% on Revenue from operations, find out the gross profit.

Dividend paid by a company to its shareholder is classified as which type of activity under cash flow statement?

Match List-I with List-II | List-I | List-II | |---|---| | (A) Reserves and Surplus | (I) Share Options Outstanding Account | | (B) Non-current Liabilities | (II) Long term provisions | | (C) Current Liabilities | (III) Short-term borrowing | | (D) Shareholder's Fund | (IV) Calls in arrear | Choose the correct answer from the options given below:

Which of the following indicate limitation of Financial analysis:

The common size statements are useful, both, in intra-firm comparisons over different years and also in making inter-firm comparisons for several years. This analysis is also known as

X Ltd. has a current ratio of 3:1 and quick ratio of 2:1. If excess of current assets over quick assets, represented by inventories is Rs. 5,000, calculate current assets and quick assets.

Which analysis is a judgemental process which aims to estimate current and past financial positions and the results of the operation of an enterprise, with primary objective of determining the best possible estimates and predictions about the future conditions?

From the following details, calculate net profit before tax: Net Profit after tax is Rs. 50,000; 15% Long-term debt 12,00,000; Tax rate 20%.

The manner prescribed in the revised schedule iii to the companies act, 2013, the particulars of balance sheet will appear in the order (A) Deferred tax assets (B) Deferred tax liabilities (C) Reserves and Surplus (D) Short-term provisions Choose the correct answer from the options given below:

Match List-I with List-II Match the statements with their respective Provisions/ other name | List-I | List-II | |---|---| | (A) AS-3 | (I) Statement of profit & loss | | (B) Schedule 3 of Companies Act | (II) Cash flow statement | | (C) Financial status of the undertaking | (III) Final accounts of company | | (D) Performance report | (IV) Balance sheet | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Accounting standard rules | (I) 2013 | | (B) Companies Act | (II) 1932 | | (C) Financial statement of company | (III) 2006 | | (D) Partnership Act | (IV) Schedule III | Choose the correct answer from the options given below:

The order in which following items appear in the cash flow statement (A) Cash and cash equivalents at the end (B) Cash and cash equivalents at the beginning (C) Purchase of property (D) Proceeds from Issuance of Bonds Choose the correct answer from the options given below:

The following ratios primarily measure risk: (A) Liquidity (B) Activity (C) Debts (D) Profitability Choose the correct answer from the options given below:

In order to bring clarity regarding the identity of ultimate owners of the company, disclosure of shares in the company held by each shareholder is required, holding more than _____ shares, specifying the number of shares held.

On the basis of information given below the closing Inventory will be Opening inventory 20,000 average inventory 40,000