List of Attempted Questions and Answers

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LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Multiple Choice Multiple Answer


Question Essentials for effective implementation of budgetary control
system are
Correct Answer Commitment of top management , Clearly defined objectives ,
Continous budget education
Your Answer Commitment of top management , Clearly defined objectives ,
Continous budget education

Multiple Choice Multiple Answer


Question Features of convention of consistency are . . .

Correct Answer The accounting policies and procedures should be followed


consistently , Facilitates the comparison of financial statements ,
It facilitates comparison of financial statements on period-to-
period basis
Your Answer The accounting policies and procedures should be followed
consistently , It facilitates comparison of financial statements on
period-to-period basis

True/False
Question The bin card and stores ledger, being independent records,
comparison of these two records should be avoided.
Correct Answer False

Your Answer False

Match The Following


Question Correct Answer Your Answer

Dividend paid Profit and loss Profit and loss account


appropriation account
Freight inwards Manufacturing account Manufacturing account

Sales Trading account Capital account

Freight outwards Profit and loss account Trading account

Select The Blank


Question Large angle of incidence indicates ________ amount of profits.

Correct Answer higher

Your Answer same

True/False
Question Error of commission refer to a situation where a transaction is
not recorded in the books of account.
Correct Answer False

Your Answer True

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