1.Hood Ltd. is a recorded land headway association in India, with basic

exercises in the Mumbai Metropolitan Region has a toll receptiveness of HKD

175452.5954payable August 31, 2014. Hong Kong Dollar (HKD) isn't clearly refered to

against Indian Rupee.

The current spot rates are:

$/GBP $82.0455

HKD/GBP HKD 9.9893

It is evaluated that Hong Kong Dollar will downgrade to 10.89 level and Indian Rupee

to debase against GBP to $84.8663.

Forward rates for August 2014 are

$/GBP $56.9685

HKD/GBP HKD 78.4587

Required:

I. Process the ordinary disaster, if the supporting isn't done. How the position

will change, if the firm takes forward cover?

ii. If the spot rates on August 31, 2014 are:

INR/GBP = $88.2545

HKD/GBP = HKD 14.5698

Is the decision to take propel cover safeguarded?

2. Which of coming up next is definitely not an ostensible Account?

A] Outstanding pay rates Account

B] Salaries account

C] Interest paid

D] Commission got

3. Mr. X is a seller in electronic products (cooler, clothes washer, air conditioners, TVs, and so on) He bought two climate control systems and introduced in his display area. In the books of X the expense two climate control systems will be charged to

A] Drawing account

B] Capital Account

C] Fixed assets

D] Purchases account

4. A broker determined his benefit as Rs.150000 on 31/03/2014. It is an

A] Transaction

B] Event

C] Transaction just as occasion

D] Neither exchange nor occasion

5. For each charge there will be an equivalent creditaccording to

A] Matching idea

B] cost idea

C] Money estimation idea

D] Dual angle idea

6. Chronicled cost idea requires the valuation of a resource at

A] Original expense

B] Replacement esteem

C] Net feasible worth

D] Market esteem

7. The correlation of fiscal report of one year with that of another is conceivable as it were when - idea is followed

A] Going concern

B] Accrual

C] Consistency

D] Materiality

8. Benefit also, misfortune is determined at the phase of

A] Recording

B] Posting

C] Classifying

D] Summarizing

9. Which of coming up next isn't the principle objective of bookkeeping?

A] Systematic account of exchanges

B] Ascertaining benefit or misfortune

C] Ascertainment of monetary position

D] Solving charge debates with charge specialists

10. A resource was bought for Rs.1000000 with the initial installment of Rs.200000 and bills acknowledged for Rs.800000/ - What might be the impact on the all out resource and all out liabilities in the asset report?

A] Assets expanded by Rs.800000 and liabilities diminished by Rs.800000

B] Assets diminished by Rs.800000 and liabilities expanded by Rs.800000

C] Assets expanded by Rs.1000000 and liabilities expanded by Rs.800000

D] Assets expanded by Rs.800000 and liabilities expanded by Rs.800000