Mca Cfa Skill Tests

8/3/2019 Mca Cfa Skill Tests

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JSPMS

JAYAWANT INSTITUTE OF COMPUTER APPLICATIONS

MCA PROGRAMME (Sem I)

Skill Test I Academic Year 2010-11

Cost and Financial Accounting ( BM12 )

Duration:- 30 min. Marks: -25.

------------------------------------------------------------------------------------------------------------------------------------

Q.1 to Q.5 :- Fill in the Blanks:

1. The left hand side of the account is called as ___________ side. (Debit/Credit)2. The accounts of Properties and Assets are called as ___________account(Assets/Liabilities)3. Cash account always shows __________ balance(Debit/Credit)4. If the total of Debit side of an account is greater than the credit side , the account will show

___________balance. ( Debit/Credit)5. The balance of Trading account is known as ________or _________(Gross Profit, Gross Loss / Net

Profit , Net loss)

Q.6 to Q. 10:Match the pair with Group A with Group B:

Group A Group B Answers1) Debit Side a) Right hand side of an account 1) :

2) Credit Side b) Left hand side of an account 2) :

3)Journal c) A person to whom we owe something 3) :

4)Debtor d) Book of original entry 4) :

5) Creditor e) A person who owe something 5) :

Q11 to Q.16 :- State Yes or No for the following:

1. Machinery is a Real account.___________2. Postage is a Nominal account__________3. Capital account is Personal account___________4. The items in Adjustments have only single effect.___________5. The right hand side of the Balance sheet side is called as Liabilities.____________6. Final account consists of Trading account, Profit and loss account, Balance Sheet_______

Q.17 to Q.20 :- Define the terms:

1. Rule for the Real account is _______________________________________2. Rule for Personal account _________________________________________3. Rule for Nominal account is _______________________________________________4. Elements of Cost are _________, _______________, _______________

Q.21 to Q.25 :- Give example for each of the following:

1. Real account __________________2. Nominal account _____________________3. Personal account __________________4. Assets _______________5. Liabilities ________________


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JSPMS


MCA PROGRAMME (Sem I)

Skill Test II Academic Year 2010-11

Cost and Financial Accounting ( BM12 )

Duration:- 30 min. Marks: -25.------------------------------------------------------------------------------------------------------------------------------------------------------------

Select the appropriate response:

Q.1: Which of the following is not the type accounting techniques?a. Financial accounting.

b. Management accounting.

c. Production

d. Cost accounting.

Q. 2: Which of the following equations properly represents a derivation of the fundamental

accounting equation?a. Assets + liabilities = owner's equity.

b. Assets = owner's equity.

c. Cash = assets.

d. Assets - liabilities = owner's equity.

Q.3: Which of these items would be accounted for as an expense?

a. Commission receivedb. Dividend received

c. Salary paid

d. none of these

Q.4: Which of the following would not be included in a balance sheet?

a. Bills receivable.

b. Bills payable.c. Sales.

d. Cash.

Q.5: "The firm must be treated as financially separate and distinct from its' owner(s)". This ruleis known as:

a. The accounting equation

b. The dual aspect concept

c. The business entity concept

d. The balance sheet.

Q.6: Which of the following is a liability?

a. Creditorsb. Debtors

c. Stock

d. Cash
http://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htm


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Q.7: The requirement that only transaction data capable of being expressed in terms of money be

included in the accounting records relates to the

a. cost principle.b. monetary unit assumption.

c. economic entity assumption.

d. None of these.

Q. 8: Transactions are initially recorded in thea. general ledger.

b. trial balance.c. Journal.

d. balance sheet

Q.9: The system whereby we make two records for each transaction is known as

a. Balance Sheet accounting.

b. Double-entry.

c. cost accounting.d. Management accounting

Q.10: Costs that do not change when the activity base fluctuates are known as:

a. Variable costsb. Discretionary costs

c. Fixed costs

d. Mixed costs

Q.11: Which of the following functions is managerial accounting intended to facilitate?

a. Planning

b. Decision makingc. Control

d. All of these

Q.12: Manufacturing costs are also known as product costs. Which of the following best

describes those costs which are considered to be manufacturing costs?

a. Direct materials, direct labor, and factory overhead.b. Direct materials and direct labor only.

c. Direct materials, administrative overhead.

d. Direct labor and factory overhead.

Q.13: Which of the following types of accounts is not included in Balance Sheet?

a. Liabilities

b. Gross Profitc. Asset

d. Capital.

Q.14: Amitabhs company pays cash to Shahrukh, then the entry in the books of Amitabhscompany will be:

a. Debit Shahrukhs account and credit Amitabhs company account

b.Debit Sharukhs account and credit Cash accountc. Debit Cash account and credit Amitabhs company account

d. Debit cash account and credit Shahrukhs account.
http://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htm


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Q.15: Marginal Contribution can be calculated as:

a. SalesVariable costb. SalesFixed cost

c. Variable cost + fixed cost

d. None of these.

Q.16: Indentify which account is not a Personal account:-a. Sunils account

b. State Bank of Indias accountc. Capital account

d. Salary account

Classify the following accounts into Real, Nominal and Personal accounts:-

Q.17: Kirtees account ___________

Q.18: Bank of Maharashtras account __________

Q.19: Rent account ________

Q.20: Cash account is ________

Q.21: Capital account is _________

Q.22: Goods account __________

Q.23: Advertisement expenses ________

Q.24: Travelling expenses______

Q.25: Commission account_________

***************All the Best*****************
http://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htm


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JSPMS


MBA PROGRAMME (Sem I)

Skill Test I Academic Year 2010-11

Subject: Management Accounting ( 102 )


-------------------------------------------------------------------------------------------------------------------Q.1 to Q.5 :- Fill in the Blanks:

6. The left hand side of the account is called as ___________ side. (Debit/Credit)7. The accounts of Properties and Assets are called as ___________account(Assets/Liabilities)8. Cash account always shows __________ balance(Debit/Credit)9. If the total of Debit side of an account is greater than the credit side , the account will show

___________balance. ( Debit/Credit)

10.The balance of Trading account is known as ________or _________(Gross Profit, Gross Loss / NetProfit , Net loss)

Q.6 to Q. 10:Match the pair with Group A with Group B:

Group A Group B Answers

1) Debit Side a) Right hand side of an account 1) :

2) Credit Side b) Left hand side of an account 2) :

3)Journal c) A person to whom we owe something 3) :

4)Debtor d) Book of original entry 4) :

5) Creditor e) A person who owe something 5) :

Q11 to Q.16 :- State Yes or No for the following:

7. Machinery is a Real account.___________8. Postage is a Nominal account__________9. Capital account is Personal account___________10.The items in Adjustments have only single effect.___________11.The right hand side of the Balance sheet side is called as Liabilities.____________12.Final account consists of Trading account, Profit and loss account, Balance Sheet_______

Q.17 to Q.20 :- Define the terms:

5. Rule for the Real account is _______________________________________6. Rule for Personal account _________________________________________7. Rule for Nominal account is _______________________________________________8. Elements of Cost are _________, _______________, _______________

Q.21 to Q.25 :- Give example for each of the following:

6. Real account __________________7. Nominal account _____________________8. Personal account __________________9. Assets _______________10.Liabilities ________________


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JSPMS


MBA PROGRAMME (Sem I)

Skill Test II Academic Year 2010-11

Management Accounting ( 102 )


---------------------------------------------------------------------------------------------------------------------------------------------------------

Select the appropriate response:

Q.1: Which of the following is not the type accounting techniques?

a. Financial accounting.b. Management accounting.

c. Production

d. Cost accounting.

Q. 2: Which of the following equations properly represents a derivation of the fundamental

accounting equation?

a. Assets + liabilities = owner's equity.b. Assets = owner's equity.

c. Cash = assets.

d. Assets - liabilities = owner's equity.

Q.3: Which of these items would be accounted for as an expense?

a. Commission received

b. Dividend receivedc. Salary paid

d. none of these

Q.4: Which of the following would not be included in a balance sheet?a. Bills receivable.

b. Bills payable.

c. Sales.d. Cash.

Q.5: "The firm must be treated as financially separate and distinct from its' owner(s)". This rule

is known as:a. The accounting equation

b. The dual aspect concept

c. The business entity concept

d. The balance sheet.

Q.6: Which of the following is a liability?

a. Creditors

b. Debtorsc. Stock

d. Cash

Q.7: The requirement that only transaction data capable of being expressed in terms of money beincluded in the accounting records relates to the

a. cost principle.b. monetary unit assumption.
http://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htm


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c. economic entity assumption.d. None of these.

Q. 8: Transactions are initially recorded in thea. general ledger.

b. trial balance.

c. Journal.

d. balance sheet

Q.9: The system whereby we make two records for each transaction is known as

a. Balance Sheet accounting.b. Double-entry.

c. cost accounting.

d. Management accounting

Q.10: Costs that do not change when the activity base fluctuates are known as:

a. Variable costs

b. Discretionary costsc. Fixed costs

d. Mixed costs

Q.11: Which of the following functions is managerial accounting intended to facilitate?a. Planning

b. Decision making

c. Controld. All of these

Q.12: Manufacturing costs are also known as product costs. Which of the following best

describes those costs which are considered to be manufacturing costs?a. Direct materials, direct labor, and factory overhead.

b. Direct materials and direct labor only.c. Direct materials, administrative overhead.d. Direct labor and factory overhead.

Q.13: Which of the following types of accounts is not included in Balance Sheet?a. Liabilities

b. Gross Profit

c. Assetd. Capital.

Q.14: Amitabhs company pays cash to Shahrukh, then the entry in the books of Amitabhs

company will be:a. Debit Shahrukhs account and credit Amitabhs company account

b.Debit Sharukhs account and credit Cash accountc. Debit Cash account and credit Amitabhs company account

d. Debit cash account and credit Shahrukhs account.
http://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/correct.htmhttp://www.principlesofaccounting.com/incorrect.htmhttp://www.principlesofaccounting.com/incorrect.htm


8/8

Q.15: Marginal Contribution can be calculated as:

a. SalesVariable costb. SalesFixed cost

c. Variable cost + fixed cost

d. None of these.

Q.16: Indentify which account is not a Personal account:-a. Sunils account

b. State Bank of Indias accountc. Capital account

d. Salary account

Classify the following accounts into Real, Nominal and Personal accounts:-

Q.17: Kirtees account ___________

Q.18: Bank of Maharashtras account __________

Q.19: Rent account ________

Q.20: Cash account is ________

Q.21: Capital account is _________

Q.22: Goods account __________

Q.23: Advertisement expenses ________

Q.24: Travelling expenses______

Q.25: Commission account_________

***************All the Best*****************
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