Q51. In a balance sheet, how will accumulated losses be categorized as?
1) Fixed assets
2) Current liability
3) Other non- current liability
4) Intangible assets
Q52. Seven lots of material are purchased at Rs
1,50,000, Rs 2,50,000, Rs
4,50,000, Rs 1,50,000, Rs 2,75,000, Rs 5,00,000
and Rs 1,50,000. What will be the
average stock cost?
1) Rs 1,50,000
2) Rs 2,37,500
3) Rs 2,50,000
4) Rs 2,75,000
Q53. The practice of providing for unpaid
expenses and prepaid expenses is based
on -----
1) matching concept
2) realization concept
3) convenience of accounting
4) accrual basis of accounting
Q54. If the life of an asset is 10 years,
according to the sum of the years digits
method, the asset at the end of the 3rd year
would be depreciated by -----
1) ‘2/55
2) ‘3/55
3) ‘8/55
4) ‘6/55
Q55. Social responsibility Accounting is
concerned with -----
1) Social effects of business decisions
2) Economic effects of the business decisions
3) Cost effects of the business decisions
4) None of the above
Answers:
