Finance quiz 2016 SMS

1. WELCOMES YOU ALL
Finance club
School of Management Studies
Baddi University of Emerging Sciences
and Technology

2. WHAT IS FINANCE?
 Finance is the study of how and under what
terms savings (money) are allocated
between lenders and borrowers.
 Finance is the study of how & under what
terms money are allocated between lender &
borrower.
Or
Money required for carrying out business

3. NEED OF FINANCE
 Starting up.
 Every day operations
 Take over bid.
 Replace machinery
 Growth.
 Working Capital Management
 Expansion

4. FINANCE QUIZ

5. ADVANCE RECEIVE FROM DEBTOR IS NOT TAKEN
AS SALES DUE TO
A. Conservation concept
B. Accrual concept
C. Money measurement concept
D. Going concern concept

6. B. ACCRUAL CONCEPT

7. CAPITAL RESERVE IS CREDITED OUT OF
A. Balance in P&L
B. Reserve profit
C. Provision
D. Capital profits

8. D. CAPITAL PROFITS

9. WHICH ACCOUNTING STANDARD IS RELATING
TO AMALGAMATION?
A. AS 23
B. AS1
C. AS21
D. AS14

10. D.AS 14

11. WHICH ASSETS IS COMPULSORY AT THE TIME
OF ADMISSION OF PARTNER
A. Stock
B. Furniture and fitting
C. Goodwill
D. Land and building

12. C. Goodwill

13. GOODS PURCHASE FROM MR. A FOR RS. 2000
PASSED THROUGH SALES BOOK THE
RECTIFICATION OF ERROR WILL RESULT IN
A. Decrease in GP
B. Increase in GP
C. Increase in debtors
D. No effect on GP

14. D. NO EFFECT ON GP

15. INCOME TAX ACT COMES IN
A. 1997
B. 1956
C. 1976
D. 1961

16. D. 1961

17. ROUND 2

18. Full form of VED...?

19. VITAL ESSENTIAL DESIRABLE

20. EOQ stands for .....?

21. ECONOMIC ORDER QUANTITY

22. ICAI stands for...?

23. INSTITUTE OF CHARTED ACCOUNTANT OF INDIA

24. What is proposed rate of GST

25. 18%

26. MMR stands for

27. MAXIMUM MARGINAL RATE

28. DRR stands for...?

29. DEBENTURE REDEMPTION RESERVE

30. GAAP STANDS FOR..?

31. GENERALLY ACCEPTED ACCOUNTING
PRINCIPLES

32. ICWAI stands for..?

33. INSTITUTE OF COST AND WORK ACCOUNTANT OF
INDIA

34. THANK YOU