i) The main purposes of accounting information is: a) Scorekeeping b) Attention Directing c) Problem-Solving d) All of these

ii) The energy internally consumed by NTPC (for powering its own colonies, establishments, etc.) will be reflected in the income statement as a. Dividend b. Cost of Goods Sold c. Income d. None of the these

iii) The term cash as used in Cash Flow Statements includes: a. Only cash balances. b. Only bank balances. c. Bank balances and bank overdrafts. d. Cash in hand plus bank balances less bank overdrafts.

iv) Which of the following are uses of funds? a. Purchase of fixed assets b. Repayment of long-term loans c. New issue of share capital d. Only (a) and (b).

v) Which of the following transactions would be classified as an operating activity in the cash flow statement? a) Sale of equipment b) Repayment of long-term debt c) Payment of dividends to shareholders d) Purchase of inventory

vi) If a company borrows Rs. 5,000 from a bank, how would it affect the accounting equation? a) Increase assets and decrease liabilities b) Increase assets and increase liabilities c) Increase liabilities and decrease assets d) Increase liabilities and increase assets

vii) XYZ Company has the following financial information: Long-term Debt: Rs.150,000 Short-term Debt: Rs. 50,000 Shareholders' Equity: Rs. 250,000 Cash: Rs. 30,000 Inventory: Rs. 80,000 Accounts Payable: Rs. 40,000, What is the debt-equity ratio for XYZ Company? a) 0.6 b) 0.8 c) 1.0 d) 1.2

viii) Harry Ltd has the following information from its income statement: Revenue: Rs.300,000 Cost of Goods Sold: Rs.120,000 Operating Expenses: Rs.80,000 Depreciation Expense: Rs.10,000 Interest Expense: Rs.5,000 Income Tax Expense: Rs.15,000 What is the gross profit and net income for ABC Company? a ) Gross Profit: Rs.180,000, Net Income: Rs.90,000 b) Gross Profit: Rs.180,000, Net Income: Rs.75,000 c) Gross Profit: Rs.200,000, Net Income: Rs.85,000 d) Gross Profit: Rs.200,000, Net Income: Rs.70,000

ix) The conservatism principle in accounting suggests that: a) Assets should be recorded at their historical cost. b) Revenues should be recognized when earned. c) Liabilities should be recorded at their highest possible value. d) Potential losses, expenses, and liabilities are recognized as soon as they are probable, while potential gains and revenues are only recognized when they are reasonably certain