MGT401 Financial Accounting II Spring 2014 Current and Past Mid Term Papers

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MGT401 Financial Accounting II Spring 2014 Current and Past Mid Term Papers at One Place From June 07 to June 18, 2014


Question No: 1 (Marks: 1 ) - Please chose one option:
According to fourth schedule of companies ordinance which of the stock-in-trade is not  part of the curent aset  Stock of raw material  Work in proces  Stock of inished gods  None of the given options
Question No: 2 (Marks: 1 ) - Please chose one
Which of the folowing refers to the relation betwen persons who have agred to share the
profits of a busines caried on by al or any of them acting for al?  Sole - proprietorship
 Partnership
 Company
 Trust
Question No: 3 ( Marks: 1 ) - Please chose one
How many days before notice is served to the members for holding statutory meting?  60days  30days  40days  21days
Question No: 4 ( Marks: 1 ) - Please chose one
How many days before notice is served to the members for holding Anual General Meting?


Question No: 5
( Marks: 1 ) - Please chose one
Which of the folowing IAS deals with the term Significant Influence in asociate companies?  IAS 28
 IAS 01
 IAS 07
Question No: 6
( Marks: 1 ) - Please chose one
If the holding company owns more then 50% but les then 10% shares of the subsidiary
company then the subsidiary type wil be termed as:  Partialy Owned Subsidiary
 Wholy Owned Subsidiary
 Direct Subsidiary
 Indirect Subsidiary
Question No: 7
( Marks: 1 ) - Please chose one
If the holding company owns10% shares of the subsidiary company then the  subsidiary
 type wil be termed as:
Question No: 8
( Marks: 1 ) - Please chose one
Whom of the folowing are responsible to prepare the anual acounts of the company under
Companies Ordinance 1984?  Directors of the company
 Shareholders of the company
 Internal Auditors of the company
 Managers of the company
Question No: 9
( Marks: 1 ) - Please chose one
Which one of the folowing cost is directly atributable to the Property, Plant and Equipment?  Costs of site preparation
 Administration and other general overhead cost  Costs of conducting busines in a new location or with a new clas of customer(  including costs of staf training)  Al of the given options
Question No: 10
( Marks: 1 ) - Please chose one
Which of the folowing is(are) related with the IAS 23?

Question No: 1
( Marks: 1 ) - Please chose one
Which of the flowing is the aplication of research findings or other knowledge to a
plan or design for the production of new or substantialy improved materials, devices, products,
processes, systems or services before the start of commercial production or use?  Aplied research
 Development  Busines research
 Acounting
Question No: 12
( Marks: 1 ) - Please chose one
Which one of the folowing is an example of Intangible Asets?  Preliminary expenses  Copy rights  Investments  Discount on isue of shares

Question No: 14
( Marks: 1 ) - Please chose one
Which of the folowing information must be disclosed in case of loan and advances to subsidiary
companies?  The name of each Bowers  Amount of loans and advances  The terms of loan and the particulars of colateral security held
 Al of the given options
Question No: 15
( Marks: 1 ) - Please chose one
Then:
Direct Material Cost is Rs. 15,00
Factory overhead is Rs. 5,00
Prime Cost is Rs. 30,00
What is the amount of Manufacturing Cost?
Izma Khan. Page 7
Rs. 10,00
Rs. 20,00
Rs. 35,00 prime cost = direct material + direct labor
Rs. 45,00 cost of manufacturing = prime cost+ FOH