Accounting & Auditing Paper 2009 - 2


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1.    The straight-line method of depreciation?




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2.    Which of the following accounts are not closed at the end of an accountingperiod?




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3.    Under periodic inventory system cost of good sold is determined and recognizedin the books of accounts?




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4.    Which of the following is not a use of working capital?




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5.    A transaction caused a Rs. 10,000 decrease in both assets and total liabilities.This transaction could have been?




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6.    Which ratio indicates a firm’s ability to pay current liabilities in the shortestpossible time?




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7.    If we add the average number of days to turn the inventory over and theaverage age of receivables
in number of days, we arrive at?




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8.    Which of the following is least important in determining the fair market value of a share?




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9.    Financial statements prepared by a business firm are most likely to be?




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10.    A deficit appears on the balance sheet?




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11.    One of the following is not an officer of a company?




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