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Corporate Accounting (VVN)
1 . Differenciate between Preliminary and Operatig Expenses?
2 . Compute the amount of gross profit and sales if opening stock is Rs. 60,000, Closing stock is Rs. 100,000, stock turnover is 8 times and goods are sold at a profit of 20% on sales.
3 . State the meaning and significance of following ratios:- (a). Investment-Coverage Ratio and (ii). Price-earning ratio
4 . The Debt-Equity ratio if a company is 1:2 which of the following transaction would incease decrease or not cahnge the ratio: (a). Purchaed fixed assets for Rs. 10,000 on long term deferred payment basis. (ii). Issued new equity shares ofd Rs. 50,000 and (iii). Paymsne of Rs. 20,000 of final dividend already declared.
5 . Take and imaginary figures and draw a Cash Flow Statement?
6 . Define the concept of Inernal Reconstruction and provide accounting treatmant for final settlement afer reconstruction?
7 . What are the stattutory books and statistical books required to be maintained by a company?
8 . Difference between Profit and Loss Account and Profit and Loss Appropriation Account?
Case Detail :
Canada based company PUDO announces that effective February 29, 2016 it has completed a vertical short form amalgamation (the “Amalgamation”) with its wholly-owned subsidiary My Courier Depot Inc. (“MCD”) in order to reduce internal administration and financial reporting costs. Pursuant to the Amalgamation, all of the issued and outstanding shares of MCD will be cancelled and the assets, obligations and liabilities of MCD will be assumed by PUDO. No securities of PUDO will be issued in connection with the Amalgamation and the share capital of PUDO will remain unchanged. The Amalgamation will not have any significant effect on the business and operations of PUDO.
About PUDO Inc.
PUDO is the last mile delivery solution for parcel pick-up and drop-off services, ensuring reliable and secure delivery where you want it, when you want it. Using easily-accessible PUDO Point™ locations such as convenience stores, gas stations and grocery stores with extended hours, PUDO members, participating e-commerce retail consumers, businesses and a home-based workforce can now pick-up their parcels anytime, including evenings and weekends. PUDO eliminates the frustration of missed deliveries and gives control over parcel pick-up and delivery back to its members. With user-friendly technology, free membership and thousands of PUDO Point™ locations across Canada and the U.S., PUDO is changing the parcel delivery model in North America. PUDO was named one of the top 20 most innovative public technology companies by the Canadian Innovation Exchange in 2015.
This press release contains forward-looking statements. The use of any of the words “anticipate”, “believe”, “expect”, “plan”, “intend”, “can”, “will”, “should”, and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based on certain key expectations and assumptions made by the Company, including but not limited to expectations and assumptions concerning the receipt of required regulatory approval. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
1. What the case is all about? Provie the brief summary?
2. Why no securities of PUDO will be issued in connection with the Amalgamation and the share capital of PUDO will remain unchanged. Comment?
3. What are your views about Press Release? How it looks as a forward-looking statement.
Question No. 1
Claim against a DEBTOR for an uncollected amount, generally from a completed transaction of sales or services rendered.
Options
Suspense
Arrears
Accounts receivables
A/cs Payables
Question No. 2
……………… is a concept of complete removal of an amount due.
Options
Depreciation
Abatement
Avoidance
Absorption
Question No. 3
Funds used by a not-for-profit organization to account for all resources used for the development of a landimprovement are …… projects funds.
Options
Capital
Non-accounted
Accounted
Miscellaneous
Question No. 4
Lease recorded as an asset acquisition accompanied by a corresponding liability by the lessee is ………… lease.
Options
Non-accounted
Accounted
Fixed
Capital
Question No. 5
Brokerage firm account whose transactions are settled on a cash basis belongs to ………. Account.
Options
Open
Cash
Current
Real
Question No. 6
Recording and reporting of financial transactions, including the origination of the transaction, its recognition, processing, and summarization in the finak accounts.
Options
Annual Inspection
Auditing
checking
Accounting
Question No. 7
The sequence of steps followed in the accounting process to measure business transactions and transform the measurements into FINANCIAL TATEMENTS for a specific period.
Options
Accounting Cycle
Accounting
Trading Cycle
Audit Cycle
Question No. 8
The difference between the realistic interest and the interest actually used is referred to as………………… interest.
Options
Historical
Depreciated
Imputed
Calculated
Question No. 9
Mutual fund with a fixed number of shares outstanding that may be bought or sold iss ………. Fund.
Options
Fixed
Capital
Open
Closed
Question No. 10
Original cost of an asset to an entity is called ………………. Cost.
Options
Historical
Accounted
Depreciated
Actual
Question No. 11
A ratio used to indicate the number of times a company’s average inventory is sold during an accounting period is ………….. Turnover ratio.
Options
Liquidity
Solvency
Inventory
Profitability
Question No. 12
A financial term for a specific type of commodities planning and trading.
Options
Development Plan
R&D
Hedge
Arbitrage
Question No. 13
Owner of property, the temporary use of which is transferred to another (LESSEE) under the terms of a LEASE.
Options
Asset owner
Lessor
Lease Owner
Contractor
Question No. 14
Any amount a corporation pays to a shareholder to directly or indirectly buy back its stock ………… mail.
Options
Red
Green
White
Yellow
Question No. 15
Movement from public ownership to private ownership of a company’s shares either by the company’s repurchase of shares or through purchases by an outside private investor.
Options
Going Private
IPO
FPO
Propspectus
Question No. 16
Group that has authority to establish standards of financial reporting for all units of state and local government.
Options
Cas
GASB
FPO
GAPS
Question No. 17
Transferable agreement to deliver or receive during a specific future month a standardized amount of a commodity s called ………….. Contract.
Options
Surendered Contract
Active
Future
Present
Question No. 18
Person who takes on the risks of starting a new business.
Options
CFO
Auditor
Accountant
Entrepreneur
Question No. 19
Stock bonus plan of an employer that acquires SECURITIES issued by the plan sponsor.
Options
ESOP
TSOP
PPOP
OROP
Question No. 20
Method of computing a deduction to ACCOUNT for a reduction in value of extractable natural resources is called…………….. .
Options
Deflation
Demand Loan
Account for
Depletion
Question No. 21
Account considered to be an offset to another account is …….. . Account.
Options
Unaccounted
Audited
Contra
parallel
Question No. 22
The stockholders’ investment in a corporation is called ………….. Capital.
Options
Fixed
Contributed
Parallel
Participated
Question No. 23
Annual interest on a bond divided by the market price is called …… yield.
Options
Current
Accounted
Liquid
Fixed
Question No. 24
Individual who has died is called…………… .
Options
Liability
Financial Burden
Decedent
Annudent
Question No. 25
Goods bought for personal or household use, as distinguished from capital goods or producer’s goods, which are used to produce other goods.
Options
Consumer Goods
White goods
Electronics Goods
Tangible Goods
Question No. 26
Transaction under which the LESSOR borrows funds to acquire property which is leased to a third party is ………… lease.
Options
Current
Accounted
Leveraged.
Abridged
Question No. 27
Winding up an activity by distributing its ASSETS to the appropriate parties and settling its debts.
Options
Window Dressing
Corruption
Insolvency
Liquidation
Question No. 28
Difference between current assets and current liabilities is called………….
Options
Net Profit
Net Working Capital
OROP
Gross Profit
Question No. 29
Sales at gross invoice amounts less any adjustments for returns, allowances, or discounts taken.
Options
Net Sales
Journal Sales
Revenues
Actual Sales
Question No. 30
Written promise to pay a specified amount to a certain entity on demand or on a specified date.
Options
Challan
Contract
Advisoty Note
Note
Question No. 31
Oldest and largest stock exchange in the United States, located at 11 Wall Street in New York City; also known as the Big Board and The Exchange.
Options
Chicago Exchange
World Exchange
NYSE
IMF
Question No. 32
Price per share at which a new or secondary distribution of securities is offered for sale to the public.
Options
offiring Price
Open Price
Current Price
Market Price
Question No. 33
Right to buy or sell something at a specified price during a specified time period.
Options
option1
Put Option
Call Option
Share
Question No. 34
All post-retirement benefits other than pensions, provided by employers to employees.
Options
Pension
OPEB
NPV
Gratuity
Question No. 35
The ability to earn enough INCOME to attract and hold INVESTMENT capital.
Options
Pooling
Estimate
Profitability
Projection
Question No. 36
The place in a factory where products are made.
Options
Godown
Supply Chain
Product Line
closed Circuit
Question No. 37
Right giving existing stockholders the opportunity to purchase shares of a new ISSUE before it is offered to others.
Options
Green Right
Preemptive
Bonus share
White Right
Question No. 38
Asset placed in a trust and used as collateral for a DEBT.
Options
Auditing
Acconting
Pooling
Pledged
Question No. 39
A small amount of CASH that a company keeps on hand to pay for minor expenses in an office.
Options
Petty Cash
Open Cash
current Cash
Small Cash
Question No. 40
Percentage of a firm’s profits that is paid out to shareholders in the form of dividends.
Options
Payout Ratio
Retention Ratio
Offer Ratio
Distribution Ratio
We Also Provide SYNOPSIS AND PROJECT.
Contact www.kimsharma.co.in for best and lowest cost solution or
Email: solvedstudymaterial@gmail.com
Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only)