An asset is purchased for P 9,000.00. Its estimated economic life is 10 years after which it will be sold for P 1,000.00. Find the depreciation in the first three years using sum-of-years digit method P 3,792.72 P 3,729.27 P 3,279.27 P 3,927.27 TRUE ANSWER : ? YOUR ANSWER : ?
Pick up the element of the cost from the following: Direct labour Direct material All of these Over head TRUE ANSWER : ? YOUR ANSWER : ?
Annuities involve: A series of payments All payments of equal amount All of these Payment at equal time intervals TRUE ANSWER : ? YOUR ANSWER : ?
Double taxation is a disadvantage of which business organization? Enterprise Sole proprietorship Partnership Corporation TRUE ANSWER : ? YOUR ANSWER : ?
Which one of the following definitions is correct? The ratio of earnings before interest and taxes for a particular reporting period to the amount of interest charges for the period is called interest coverage ratio All of these The ratio of total debt to share holder's equity is called 'debt ratio' The ratio debt-to-total assets is called Debt-to-total assets ratio TRUE ANSWER : ? YOUR ANSWER : ?
What is defined as the reduction of the value of certain natural resources such as mines, oil, timber, quarries, etc. due to the gradual extraction of its contents? Inflation Depletion Depreciation Deflation TRUE ANSWER : ? YOUR ANSWER : ?
What is the market situation exist when there are many buyers and many sellers? Monopoly Oligopoly Perfect competition Oligopsony TRUE ANSWER : ? YOUR ANSWER : ?
Liquidity ratios are used: All of these To measure a firm’s ability to meet short-cut obligations To obtain much insight into the present cash solvency of the firm and the firm To compare short term obligations to short-term resources available to meet these obligations TRUE ANSWER : ? YOUR ANSWER : ?
What is defined as an entity which makes product, good or services available to buyer or consumer in exchange of monetary consideration? Manufacturer Producer Seller Buyer or consumer TRUE ANSWER : ? YOUR ANSWER : ?
In case of bankruptcy of a partnership, The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities The partners personal assets are attached to the debt of the partnership The partners nay sell stock to generate additional capital The partners are not liable for the liabilities of the partnership TRUE ANSWER : ? YOUR ANSWER : ?