1. Consider the asset report of Mark Limited as on 31 December,2019. The organization has gotten an enormous request and expects the need to go to its bank to expand its borrowings. Thus, it needs to gauge its money necessities for January, February and March, 2020. Regularly, the organization gathers 20.36 percent of its deals in the period of offer, 70.56% in the resulting month, what's more, 10.25% in the second month after the deal. All deals are credit deals.

Value and liabilities Amount ($)

Resources Amount ($)

Value shares capital 100.58 Net fixed resources 1,836.96

Held profit 1,439.02 Inventories 545.58

Long haul borrowings 450.96 Accounts receivables 530.36

Records payables 360.45 Cash and bank 50.85

Advance from banks 400.96

Different liabilities 212.25

Acquisition of crude materials are made in the month preceding the deal and sums to 60.85 percent of deals. Installments for these buys happen in the month after the buy. Work costs, including additional time, are required to be $1,50,458.58 in January, $ 2,00,784.56 in February, and $1,60,784.45 in March. Selling, authoritative, charges, and other money costs are relied upon to be $1,00,784.85 every month for January through March. Real deals in November also, December and extended deals for January through April are as per the following (in thousands):

Month ' Month ' Month '

November 500.25 January 678.58 March 784.56

December 645.96 February 1,985.78 April 785.56

Based on this data:

(a) PREPARE a money financial plan for the long stretches of January, February, and March.

(b) DETERMINE the measure of extra bank borrowings important to keep a money equilibrium of $44578 consistently.

(c) PREPARE a professional forma monetary record for March 31.

2) The basic bookkeeping condition' Assets = Liabilities + Capital' is the proper articulation of

A. Double angle idea

B. Coordinating with idea

C. Going concern idea

D. Cash estimation idea

3) Maximum ____ can be treated as special compensation and wages

A. 20,000

B. 25,000

C. 30,000

D. 10,000

4) Which of the accompanying assertions is valid according to liabilities?

A. Cases against the assets.

B. Presently existing commitments which the firm plans to meet sooner or later in the future.

C. It should be equipped for being communicated in cash terms.

D. The entirety of the abovementioned

5) All capital uses and receipts are taken to

A. Exchanging and Profit and Loss Account

B. Asset report

C. Preliminary equilibrium

D. Nothing unless there are other options

6) Which one of the accompanying parts of bookkeeping essentially manages preparing and introducing of bookkeeping information for inward use?

A. Monetary bookkeeping

B. Expense bookkeeping

C. The executives bookkeeping

D. Swelling bookkeeping

7) Amount spent on a promotion crusade, the advantage of which is probably going to keep going for three a long time is a

A. Capital use

B. Income use

C. Conceded income use

D. Nothing unless there are other options

8) According to AS - 14 buy thought is the thing that is payable to

A. Investors

B. Loan bosses

C. Debentureholders

D. Investors and Debentureholders

9) Amalgamation is supposed to be in the idea of consolidation if:

A. All resources and liabilities of transferor organization are taken over by the transferee organization.

B. Business of transferor organization is expected to be carried on by the transferee organization.

C. Buy thought should be paid in value shares by the transferee organization aside from portion shares.

D. The entirety of the abovementioned

10) Amalgamate change account is opened in the books of transferee organization to fuse:

A. The resources of the transferor organization

B. The liabilities of the transferor organization

C. The legal stores of the transferor organization

D. The non - legal stores of the transferor organization