Accountancy and Financial Management MCQ with answers

Accountancy and Financial Management MCQ with answers

Online MCQs on Accountancy and financial management Sybcom sem 4 pdf with answers.

Are you looking for Accountancy and Financial Management MCQs with answers? It is essential to understand the concepts of Accountancy and Financial Management in order to succeed in examinations.

Students, professionals and researchers looking to enhance their knowledge in this field can find help in this article.

Through this article, we provide a comprehensive list of multiple-choice questions on the topics of Accountancy and Financial Management, along with their correct answers.

Brief about Accountancy and Financial Management

The role of an accountant is to maintain the financial records of a company and prepare financial statements. They also advise management on ways to improve the company’s financial performance. Financial management is the process of making decisions about how to allocate resources in order to achieve specific goals. Financial managers use financial statements, cash flow projections, and other information to make these decisions.

Accountancy and financial

Accountancy and financial management MCQ with answers

These MCQs provide an overview for the preparation of accounting and financial management exams. It covers the types of questions that are generally asked in the exam and how to approach them. The MCQs also include a quiz and YouTube videos so that readers can test their knowledge.

These Multiple Choice Questions and answers in Accounting and Financial Management are important for exams like Mcom, Bcom, MBA, BBA, BCA, MCA, BMS, UPSC, CA, CS, CMA, CPA, CFA, NET, Banking, and other accounts department exams.

1) Popular Financial Accounting Software Packages are:
(a) Tally, Ex
(b) WinCa and DacEasy
(c) Both a & b
(d) None of the above
[expand title="Show Answer"]Answer: (b)[/expand]

2) Press ___ that would activate the calculator
(a) Ctrl+ N
(b) F1
(c) Alt + Del
(d) F11
[expand title="Show Answer"]Answer: (a)[/expand]

3) Tally screen can be divided into ___ broad parts
(a) Two
(b) Three
(c) Four
(d) Six
[expand title="Show Answer"]Answer: (b)[/expand]

4) The work area at the gateway is broadly separated into ___
(a) Two sections
(b) Three sections
(c) Five sections
(d) Eight sections
[expand title="Show Answer"]Answer: (a)[/expand]

5) Tally provides an option to maintain
a) Accounts only
b) Inventory only
c) Account cum Inventory
d) All of the above
[expand title="Show Answer"]Answer: (d)[/expand]

6) Tally provides an option to maintain
(a) Accounts only
(b) Inventory only
(c) Account cum Inventory
(d) All of the above
[expand title="Show Answer"]Answer: (d)[/expand]

7) On pressing ___ to configure at gateway will show a figure, which allows setting configuration option
(a) F10
(b) F11
(c) F12
(d) F1
[expand title="Show Answer"]Answer: (c)[/expand]

8) ___ at the voucher entry screen to enter a contra voucher
(a) Press F11
(b) Press F4
(c) Press F12
(d) Press F10
[expand title="Show Answer"]Answer: (b)[/expand]

9) To delete a voucher type, select it in alteration mode and press
(a) <Alt> + <D>
(b) <Del> + <F10>
(c) <2>
(d) <Ctrl> + <A>
[expand title="Show Answer"]Answer: (a)[/expand]

10) ___ provides the link between two transaction documents.
(a) Batch numbers
(b) Godowns
(c) Tracking Numbers
(d) Unit of measure
[expand title="Show Answer"]Answer: (a)[/expand]

11) You can print receipt vouchers by pressing
(a) <Alt> + <P>
(b) <Ctrl> + <P>
(c) <Ctrl> + C
(d) None of the above
[expand title="Show Answer"]Answer: (a)[/expand]

12) A purchase voucher can be entered by pressing the function key
(a) F2
(b) F4
(c) F7
(d) F9
[expand title="Show Answer"]Answer: (d)[/expand]

13) The scope and functions of Financial Management are divided into ___categories:
(a) Two
(b) Three
(c) Four
(d) Six
[expand title="Show Answer"]Answer: (a)[/expand]

14) The term ___ was used in place of the present term Financial Management
(a) Finance
(b) Corporation Finance
(c) Company finance
(d) None of the above
[expand title="Show Answer"]Answer: (b)[/expand]

15) Wealth maximization is also called
(a) Profitability
(b) Profit
(c) Value maximization
(d) Both A & B
[expand title="Show Answer"]Answer: (c)[/expand]

16) ___ leverage occurs when fixed cost funds such as debt or preference capital are employed by the company
(a) Financial Leverage
(b) Operational Leverage
(c) Combined Leverage
(d) None of the above
[expand title="Show Answer"]Answer: (a)[/expand]

17) Permanent working capital is also called
(a) Core current assets
(b) Hardcore of the capital
(c) Both a & b
(d) Networking capital
[expand title="Show Answer"]Answer: (c)[/expand]

18) The term inventories include
(a) Stock of raw – materials
(b) Work–in–progress
(c) Finished goods
(d) All of the above
[expand title="Show Answer"]Answer: (d)[/expand]

19) Loan obtained without any hypothecation of asset ___
(a) Secured loan
(b) Unsecured loan
(c) Long term loan
(d) Short term loan
[expand title="Show Answer"]Answer: (d)[/expand]

20) Accounting is the language of ___
(a) Economics
(b) Business
(c) Computer
(d) Commerce
[expand title="Show Answer"]Answer: (b)[/expand]

21) The date on which the bill becomes payable is called ___
(a) Grace’s date
(b) Due date
(c) Last date
(d) Least date
[expand title="Show Answer"]Answer: (b)[/expand]

22) Excess of income over expenditure is ___
(a) Gross loss
(b) Net loss
(c) Gross profit
(d) Profit
[expand title="Show Answer"]Answer: (c)[/expand]

23) E.P.S. means
(a) Equity per scheme
(b) Earnings per share
(c) Equity per share
(d) Even prudential share
[expand title="Show Answer"]Answer: (b)[/expand]

24) An outflow of economic benefit or depletion of assets or increase/creation of liabilities resulting in a decrease in equity ___
(a) Expenses
(b) Assets
(c) Income
(d) Liability
[expand title="Show Answer"]Answer: (a)[/expand]

25) Amount created for unforeseen events in future ___
(a) Provision
(b) Reserve
(c) Fund
(d) Gross profit
[expand title="Show Answer"]Answer: (b)[/expand]

26) A happening of consequence to an entity is ____
(a) Situation
(b) Circumstances
(c) Event
(d) Problem
[expand title="Show Answer"]Answer: (c)[/expand]

27) The residual interest of owners in assets over liabilities
(a) Profit
(b) Income
(c) Equity
(d) Loss
[expand title="Show Answer"]Answer: (c)[/expand]

28) The suffix of b/d denotes ____
(a) Brought down
(b) Bought up
(c) Budget down
(d) None of the above
[expand title="Show Answer"]Answer: (a)[/expand]

29) ___ is the backbone of the business
(a) Finance
(b) Profit
(c) Risk
(d) None of the above
[expand title="Show Answer"]Answer: (a)[/expand]

30) ___ is the mix of different sources of long term funds such as debt, preference capital, and equity capital in the total capitalization of a company
(a) Capital rationing
(b) Capital structure
(c) Capital system
(d) Cost of capital
[expand title="Show Answer"]Answer: (b)[/expand]

31) According to ___ theory the market value of the firm is not affected by the capital
(a) Net income approach
(b) Net operating income approach
(c) Traditional approach
(d) Modigliani – Millar approach
[expand title="Show Answer"]Answer: (b)[/expand]

32) The sum total of all current assets of the enterprise employed in the business process ___
(a) Long term capital
(b) Permanent capital
(c) Fixed capital
(d) Gross working capital
[expand title="Show Answer"]Answer: (d)[/expand]

33) The pattern of total financing employed by a firm is ___
(a) Capital mixing
(b) Capital rationing
(c) Capital allocation
(d) Financial structure
[expand title="Show Answer"]Answer: (d)[/expand]

34) According to ___ the term financial management provides a conceptual and analytical framework for financial decision making.
(a) Traditional approach
(b) Modern approach
(c) Working capital concept
(d) Cost of capital
[expand title="Show Answer"]Answer: (b)[/expand]

35) Who suggests the net income approach?
(a) Peter F Drucker
(b) Modigliani – Millar
(c) Chris Bernard
(d) David Durand
[expand title="Show Answer"]Answer: (d)[/expand]

36) The employment of an asset of funds for which the pays a fixed cost or fixed return ___
(a) Cost of equity
(b) Dividend
(c) Leverage
(d) Buy out ratio
[expand title="Show Answer"]Answer: (c)[/expand]

37) The joining of two or more companies involved in different stages of the production or distribution of the same product or service is
(a) Horizontal merger
(b) Vertical merger
(c) Circular merger
(d) None of the above
[expand title="Show Answer"]Answer: (b)[/expand]

38) The value of money changes over a period of time means ___
(a) Value of money measured in relation to time
(b) Time has money value
(c) Money has time value
(d) Time and money are tangible assets
[expand title="Show Answer"]Answer: (c)[/expand]

39) Money has ___
(a) Time value
(b) No time value
(c) Earning capacity
(d) Both A & C
[expand title="Show Answer"]Answer: (a)[/expand]

40) ___ is an instrument of long term debt issued by a borrower
(a) A bond
(b) A debenture
(c) Both a & b
(d) None of the above
[expand title="Show Answer"]Answer: (c)[/expand]

41) There are ___ major theories explaining the relationship between capital & valuation of the firm.
(a) Two
(b) Three
(c) Four
(d) Five
[expand title="Show Answer"]Answer: (c)[/expand]

42) The different elements of the balance sheet are ___
(a) Assets, Liabilities, and prepaid expenses
(b) Debtors, creditors & capital
(c) Assets, liabilities & equity
(d) Debtors, closing stock & creditors
[expand title="Show Answer"]Answer: (c)[/expand]

43) The credit balance in the bank column of the ___ means ___
(a) Cashbook, overdraft
(b) Bank book, cash in hand
(c) Cashbook, cash at bank
(d) Passbook, overdraft
[expand title="Show Answer"]Answer: (a)[/expand]

44) Purchases of furniture worth Rs. 5,000. Two elements are ___
(a) Furniture and cash
(b) Cash and furniture
(c) Purchases and cash
(d) Assets and purchase
[expand title="Show Answer"]Answer: (a)[/expand]

45) Debit ___ credit ___
(a) What comes in, what goes out
(b) Giver, receiver
(c) Receipts, payments
(d) Income, and expenses, gains & losses
[expand title="Show Answer"]Answer: (a)[/expand]

46) Investments are shown and expressed as ___ and ___ in the balance sheets.
(a) Short term, the long term investment
(b) Quoted, unquoted investment
(c) Registered, unregistered investments
(d) Fixed and variable investment
[expand title="Show Answer"]Answer: (b)[/expand]

47) The term debt is derived from the ___ word ___ meaning owed to me.
(a) Latin, debare
(b) Latin, debeo
(c) French, debit
(d) French, debare
[expand title="Show Answer"]Answer: (c)[/expand]

48) Different types of mergers are ___
(a) Absorption, Amalgamation, Acquisition, and takeover
(b) Absorption, Amalgamation, Acquisition, and Liquidation
(c) Takeover, Amalgamation, Acquisition, and liquidation
(d) Absorption, Amalgamation, Demergers and Liquidation
[expand title="Show Answer"]Answer: (a)[/expand]

49) Features of an appropriate capital structure are ___
(a) Profitability, conservatism, profitability, and control
(b) Profitability, solvency, flexibility, conservatism, and control
(c) Profitability, solvency, consistency, and conservation
(d) Profitability, flexibility, consistency, and control
[expand title="Show Answer"]Answer: (b)[/expand]

50) The total of processing time + inspection time + conveyance time + waiting time is equal to ___
(a) Lead time
(b) Production time
(c) Throughput time
(d) None of the above
[expand title="Show Answer"]Answer: (c)[/expand]

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Conclusion

Accounting and financial management are important aspects of any business. By understanding the concepts and principles of accounting and financial management, business owners can make sound decisions that will help their businesses grow and succeed. 

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