MGT401 Financial Accounting II Final paper 23 February 2013

Total Questions: 60

Total Marks: 78

Total MCQs: 54 (Each of 1 Mark)

Total Short Questions: 3 (Each of 3 Mark)

Total Long Questions: 3 (Each of 5 Mark)


Question: 55

An asset, whose book value is Rs 89000 as discovered by fire after the balance sheet date, Required:
• identify the types of event
• what will be the accounting treatment

Question: 56
What types of provision created to reduce the asset?
Question: 57
List down the items that should be included in Cash flow from financing activities?

Question: 58
Describe the basic terms for meaning the elements of Financial Statement with respect to the IASB’s framework.
• Historical cost
• Current cost
• Realizable cost
Question: 59
if account receivable at beginning Rs 250,000
Account receivable at end 190,000
Credit sale 30,000
Then calculate cash receipts from sale with the help of account receivable ledger account.
Question: 60
What do you know about the administrative cost? Give 3 examples