CUET UG Accountancy — Financial Statements previous year questions with solutions.
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 :
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 :
If there appears a Tournament Fund, then the expenses incurred on Tournament activities will be shown :
Identify the cash transaction from the following :
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 :
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 :
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 |
Pick the odd one out while Calculating Cash Flow from Financing 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 :
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 :
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 :
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 :
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:
Select the sub-head under which loose tools will be shown in the Balance Sheet of a company -
Which of the following will be added to operating profit before working capital changes, while preparing Cash Flow statement from indirect method?
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?
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:
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:
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:
Separate disclosure of cash flow arising from Financial Activities is important because
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
Trade payables to be settled beyond 12 months from the date of Balance sheet or beyond the operating cycle are classified under:
Capital gain tax paid on sale of fixed assets should be classified as _______
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: