Accounting & Auditing Paper 2004 - 21


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1.    The purchase of machinery on account would?




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2.    In general, the accounts in the income statement are known as?




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3.    In general terms, financial assets appear in the balance sheet at?




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4.    A limited Co. sold marketable securities cost Rs. 80,000 for Rs. 92,000 cash. In Co.’s income statement and statement of cash flows respectively, this will appear as?




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5.    Which of the following is least important as a measure of short term liquidity?




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6.    Uzma Ltd. Net income was Rs. 4,00,000 in 2003 and Rs. 1,60,000,in 2004.
What percentage increase in net income must achieve in 2005 to offset the decline in profits in 2004?




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7.    Which of the following does not describe accounting?




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8.    External uses of financial accounting information include all of the following except?




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9.    A fixed budget is?




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10.    A subscription received in advance is?




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