Answer in reference to Managerial accounting:-

I)Choose the most fitting one from given four other options.

1.If a representative of the business records a legitimate suit on business, it is considered in the books as

(a)Legal Expense

(b)Liability

(c)Contingent Asset

(d)Contingent Liability

2.At the finish of the bookkeeping year the capital consumptions are appeared in the

(a)assets side of the Balance Sheet.

(b)liabilities side of the Balance Sheet.

(c)debit side of the Profit and Loss A/c.

(d)credit side of the Profit and Loss A/c.

3.Which of coming up next isn't a strategy for charging deterioration?

(a)Sinking Fund Method

(b)Sum of years Digit Method

(c)Working hours Method

(d)Asset's Life-cycle Method

4.If normal stock is $1,25,000 and shutting stock is $10,000 not exactly opening stock then the benefit of shutting stock will be

(a) $ 1,35,000

(b) $ 1,15,000

(c) $ 1,30,000

(d) $ 1,20,000

5.The Accommodation bill is drawn

(a)to money real buy or offer of merchandise.

(b)to encourage exchange transmission.

(c)when the two players are needing reserves.

(d)None of the abovementioned

6.Balance of X's record in leasers record is moved to X's record in debt holders record, for this situation

(a)X's record in borrowers record will be charged.

(b)X's record in leasers record will be charged.

(c)Suspense record will be charged.

(d)None of the abovementioned

7.Ground lease or surface lease implies

(a)Minimum lease

(b)Maximum sovereignty payable

(c)Minimum sovereignty payable

(d)Fixed lease payable notwithstanding least lease

8.Accounting norm in US are given by

(a)Government of US

(b)Reserve Bank of US

(c)The Institute of Chartered Accountants of US

(d)The Institute of Accounting Standard of US

9.As on 31st March, 2017 account holders and extra terrible obligations are $ 8,00,000 and $ 10,000 individually. In the event that the arrangement for terrible obligations is made at 5% on borrowers, measure of such arrangement will be

(a) $40,000 (b) $50,000 (c) $39,500 (d) $40,500

10.Income and Expenditure Account is a

(a)Nominal Account

(b)Real Account

(c)Personal Account

(d)Artificial Personal Account