Accounting Multiple-Choice Questions – importance for NRB and na.su

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Accounting Multiple-Choice Questions – importance for NRB and na.su

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1. The accounting profession can be divided into three major categories; specifically, the practice of public accounting, private accounting, and governmental accounting. A somewhat unique and important service of public accountants is:

a. Financial accounting.

b. Managerial accounting.

c. Auditing.

d. Cost accounting.

Ans : c. Auditing.

2. The primary private sector agency that oversees external financial reporting standards is the:

a. Financial Accounting Standards Board.

b. Federal Bureau of Investigation.

c. General Accounting Office.

d. Internal Revenue Service.

Ans : a. Financial Accounting Standards Board.

3. Which of the following equations properly represents a derivation of the fundamental accounting equation?

a. Assets + liabilities = owner’s equity.

b. Assets = owner’s equity.

c. Cash = assets.

d. Assets – liabilities = owner’s equity.

Ans : d. Assets – liabilities = owner’s equity.

4. Wilson Company owns land that cost $100,000. If a “quick sale” of the land was necessary to generate cash, the company feels it would receive only $80,000. The company continues to report the asset on the balance sheet at $100,000. Which of the following concepts justifies this?

a. The historical-cost principle.

b. The value is tied to objective and verifiable past transactions.

c. Neither of the above.

d. Both “a” and “b”.

Ans : d. Both “a” and “b”.

5. Retained earnings will change over time because of several factors. Which of the following factors would explain an increase in retained earnings?

a. Net loss.

b. Net income.

c. Dividends.

d. Investments by stockholders.

Ans : b. Net income.

6. Which of these items would be accounted for as an expense?

a. Repayment of a bank loan.

b. Dividends to stockholders.

c. The purchase of land.

d. Payment of the current period’s rent.

Ans : d. Payment of the current period’s rent.

7. Which of the following transactions would have no impact on stockholders’ equity?

a. Purchase of land from the proceeds of a bank loan.

b. Dividends to stockholders.

c. Net loss.

4. Investments of cash by stockholders.

Ans :a. Purchase of land from the proceeds of a bank loan.

8. Which of the following would not be included on a balance sheet?

a. Accounts receivable.

b. Accounts payable.

c. Sales.

d. Cash.

Ans :c. Sales.

9. remington Remington provided the following information about its balance sheet:Based on the information provided, how much are Remington’s liabilities?

a. rs 200.

b. rs 900.

c. rs 1,200.

d. rs 1,700.

Ans : rs 1200

10. Gerald had beginning total stockholders’ equity of rs.160,000. During the year, total assets increased by rs.240,000 and total liabilities increased by rs.120,000. Gerald’s net income was rs.180,000. No additional investments were made; however, dividends did occur during the year. How much were the dividends?

a. rs 20,000.

b. rs 60,000.

c. rs 140,000.

d. rs 220,000.

Ans : b. rs 60,000.

At last,

Management Multiple choice questions with answers for NRB

हामीले नेपाल राष्ट्र बैंकको परीक्षाको तयारीको लागि व्यवस्थापन सम्बन्धि प्रश्न उत्तर यहा प्रस्तुत गरेको छौ हेरेर प्रतिक्रिया दिनुहोला

1. In what order do managers typically perform the managerial functions?

a) organising, planning, controlling, leading

b) organising, leading, planning, controlling

c) planning, organising, leading, controlling

d) planning, organising, controlling, leading

Answer : c) planning, organising, leading, controlling

2. Who of the following is the industrial philanthropist?

a) Frederick Taylor

b) Seebohm Rowntree

c) Henry Ford

d) Max Weber

Answer : b) Seebohm Rowntree

3. Which one of the following is not one of Drucker’s five guiding principles of management?

a) Making people’s strengths effective and their weaknesses irrelevant.

b) Enhancing the ability of people to contribute.

c) To operate the organisation’s status system.

d) Integrating people in a common venture by thinking through, setting and exemplifying the organisational objectives, values and goals.

Answer : c) To operate the organisation’s status system.

4. What are the three interpersonal roles of managers?

a) Figurehead, leader and liaison

b) Spokesperson, leader, coordinator

c) Director, coordinator, disseminator

d) Communicator, organiser, spokesperson

Answer : a) Figurehead, leader and liaison

5. At what level of an organisation does a corporate manager operate?

a) Functional

b) Operational

c) Middle level

d) Top level

d) Top level

6. What is the guiding principle behind New Public Management?

a) Profit maximisation

b) Introducing private sector business principles into the public sector

c) Replacing public management with private sector management

d) Restructuring public organisations

Answer : b) Introducing private sector business principles into the public sector

7. Which one is not a recognised key skill of management?

a) Conceptual skills

b) Human skills

c) Technical skills

d) Writing skills

d) Writing skills

8. Which of these is not part of the recognised challenges for modern managers?

a) Micro-managing the workforce

b) Managing communications

c) Managing change

d) Managing the learning organisation

Answer : a) Micro-managing the workforce

9. Who of these is the entrepreneur?

a) Barack Obama

b) James Dyson

c) Damien Hirst

d) Mo Farah

Answer : b) James Dyson

10. What is a social enterprise concerned with?

a) Profit maximisation

b) Maximising market share

c) Providing public service

d) Running a business to create social benefits

Answer : d) Running a business to create social benefits

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