12 May 2014

Smu mba financia & management accounting sample paper set five


 Note: Two Square boxes in which one box is correct answer and others is wrong.

Unit 2 Mark 4
You have completed your quiz attempt. You have scored 0 of 12 possible points.

Question:
State True or false 1) The basic objective of book keeping is to maintain systematic records of financial transactions 2) The basic objective of book keeping is to ascertain net results of operations and finical position of the firms 3) An accountant is required to possess analytical skills 4) An accountant supervisor & checks the work of a book keeper
Response:
1F, 2F, 3T, 4F Not right choice , Review unit 1.5
1T, 2T, 3T, 4T Not right choice , Review unit 1.5
Wrong
1T, 2F, 3F, 4T Not right choice , Review unit 1.5
Should have chosen
1T, 2F, 3T, 4T Correct choice

Question:
Match the following
Response:
Match
Correct Answer
User answer
Feedback

Match
Correct Answer
User answer
Feedback
Prepaid / outstanding expenses/ accrued / uncured income are included in balance sheet
Accrual basis of accounting
Cash basis of accounts
incorrect
Accountant has no option to choose the most suitable method out of alternative , e.g. FIFO / LIFO / SLM / IVDV
Cash basis of accounts
Inputs to accounting information system
incorrect
Business transaction & external events measured in financial terms are
Inputs to accounting information system
Accrual basis of accounting
incorrect
Management plains & policies laws & regulations are
Process involved in accounting information system
Process involved in accounting information system
correct

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