QUESTION SET 2

QUESTION SET-2
6.              Preparation of consolidated statement of accounts as per AS - 21 is :
(1)            Optional
(2)            Mandatory for Private Ltd. Companies
(3)            Mandatory for Listed Companies
(4)            Mandatory for all Companies
ANSWER-3
EXPLANATION:-AS-21 deals with consolidated financial statment where a parent company is required to prepare financial statements of its subsidiary.

7.              Which one of the following is not true of cash Budget ?
(1)            The shortage or excess of cash would appear in a particular period.
(2)            All inflows would arise before outflows for those periods.
(3)            Only revenue nature cash flows are shown.
(4)            Proceeds from issue of share capital is shown as an inflow.
                        ANSWER -3
                        EXPLANATION:-cash budget includes capital nature items also.

8..           Study the following transactions :
(a)           Raising of short term loans
(b)          Goods purchased for cash
(c)           Payment of bonus in the form of shares
(d)          Issue of shares in lieu of raw materials 
Flow of funds is :
 (1)       (a), (b), (c), and (d)
(2)       (b), (c), and (d)
(3)            (c) and (d)
(4)            Only (d)
ANSWER-4
EXPLANATION: Option d covers shares which is of non current liablity and raw material which is a current asset .

9.           All the properties of order, interval and zero origin are simultaneously possessed by :
(1)            Nominal  Data         (2)       Interval Data           (3)       Ratio Data                (4)       Ordinal Data
        ANSWER-3
        EXPLANATION:-Ratio scales give us the ultimate–order, interval values, plus the ability to                  calculate ratios since a “true zero” can be defined.





10.           Under which of the following situations, chi - square test is applicable ?
(a)           testing homogeneity
         (b)          testing goodness of fit
(c)           testing equality of two sample means
(d)          testing equality of two sample proportions
(e)           testing independence of attributes

codes :

(1)            Only (a), (b)  and (c)                                   (2)       Only (a), (b) and (e)
        (3)       Only (c), (d)  and (e)                                   (4)       Only (a), (c) and (e)
               ANSWER-2
               EXPLANATION:-chi-square test is applicable for testing homogeneity, goodness of  fit and independence of attributes.









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