Author name: Administrator

2020. __________ Debentures are not redeemable during life time of the company.

Redeemable
Irredeemable
Convertible
Non-convertible
✅ The correct answer is B.
Irredeemable Debentures are not redeemable during life time of the company. Non Redeemable Debentures is a reference to a type of debentures that will continue to remain alive in perpetuity. For this reason, such debentures are also called ‘perpetual’ or ‘Irredeemable’ debentures. The issuing company does not have any liability to redeem such debentures as long as it is a going concern.

2022. Accounts payable, accruals and notes payables are listed on balance sheet as

accrued liabilities
current liabilities
accumulated liabilities
non-current liabilities
✅ The correct answer is B.
Accounts payable, accruals and notes payables are listed on balance sheet as current liabilities. Current liabilities are a company’s debts or obligations that are due within one year or within a normal operating cycle.

2003. The material wealth of a society is equal to the sum of _________.

all financial assets
all real assets
all financial and real assets
all physical assets
✅ The correct answer is C.
The material wealth of a society is equal to the sum of all financial and real assets. The material wealth of a society is determined ultimately by the productive capacity of its economy— the goods and services that can be provided to its members.

2004. The gross working capital is a _____ concern concept.

Going concern
money measurement
revenue concept
cost concept
✅ The correct answer is A.
Gross working capital is also known as going concern concept since finance manager is highly concerned with the management of these assets with a view of bringing about productivity from other assets

2005. Which one is not an offline payment mode?

Cash on delivery
Cash before delivery
Demand drafts
e‐cheque
✅ The correct answer is D.
E‐cheque is not an offline payment mode. An eCheque is a payment that you make directly from your bank account. You can only send an eCheque if your bank account is the only payment method attached to your bank account, and you don’t have a credit or debit card as a back-up payment method.

2011. An approach which yields benefits of normal costing and actual manufacturing overhead is classified as

unadjusted allocation rate approach
adjusted budget rate approach
unadjusted budget rate approach
adjusted allocation rate approach
✅ The correct answer is D.
An approach which yields benefits of normal costing and actual manufacturing overhead is classified as adjusted allocation rate approach. The adjusted allocation-rate approach restates or corrects estimated overhead costs booked throughout the year, so that the actual overhead costs are recorded properly.
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