MGT401 CURRENT QUIZZ

From: Uthman Siddiq <mc100400312@vu.edu.pk>
Date: Mon, Oct 24, 2011 at 10:34 AM
Subject: Re: [ vuZs.net ] MGT 401 CURRENT QUIZZ
To: vuzs@googlegroups.com


Quiz # 1

Q1: According to IAS-16, at which value assets are initially measured?

1-      Cost

2-      Revalued Amount

3-      Carrying Amount

4-      Fair Value

Q2: A machine has historical cost value of Rs.200,000 while
accumulated depreciation up to five years is Rs. 110,000 and
depreciation for 5th year is Rs. 15,000.What will be the carrying
value of the machine at the end of 5th year?

1-      75000

2-      295000

3-      185000

4-      None of the above

Q3: In which situation, company ABC and XYZ can be interconnected?

1-      Associated to Each Other

2-      One is parent co. to another

3-      Business relationship

4-      All of the above

Q4: What is reflected by the Memorandum of Association (MOA) of a company?

1-      Operating procedures

2-      Rules

3-      Scope of Business

4-      All of the above

Q5: Which of the following represents the Qualifying Asset?

1-      Asset ready to be used

2-      Work in progress

3-      Site Under Construction

4-      All of the above

Q6: Which of the following IAS deals with Inventories?

1-      IAS-36

2-      IAS-32

3-      IAS-02

4-      IAS-39

Q7: ABC Chemicals Ltd. acquired an asset in year 2005. After five
years, it has been assessed that the carrying value of asset is
significantly higher than its recoverable value. What does this
situation called in accounting language?

1-      Impairment Loss

2-      Depreciation

3-      Carrying Loss

4-      None of the above

Q8: Which of the following schedule of the Company Ordinance 1984 is
related to the classification of intangible assets?

1-      2nd

2-      1st

3-      4th

4-      3rd

Q9: Which organizations are required special approvals from SECP for
their establishment?

1-      Manufacturing firms

2-      Non-profit organizations

3-      Public Limited Co.

4-      All of the above

Q10: Which of the followings is/are not allowed to be revalued in
accordance with IAS-16?

1-      Plant

2-      Office Equipment

3-      Motor Vehicles

4-      Investment Properties


Regards,
Uthman Siddiq

On 10/24/11, mc100403793 Amina Nawaz <mc100403793@vu.edu.pk> wrote:
> PLZ SHARE QUIZZ.
>
> --
> --
> Please visit www.vuzs.net For Current & Old Papers, Quizzes, Assignments and
> study material.
> --
> You received this message because you are subscribed to the Google
> Groups "vuZs" group.
> --
> To post a new message on this group, send email to vuZs@googlegroups.com
> --
> Message Posting Rules:
> http://vuzs.net/faq/4795-vuzs-google-groups-basic-rules-for-posting-messages.html
> --
> To unsubscribe from this group, send email to
> vuZs+unsubscribe@googlegroups.com
> --
> To join this group Send blank email from your virtual university email
> address to
> vuZs+subscribe@googlegroups.com
> or visit
> http://groups.google.com/group/vuZs/subscribe
> ---
> For more information Contact vuZs Manager at info@vuzs.net
>

--
Regards,

Uthman Siddiq

--
--
Please visit www.vuzs.net For Current & Old Papers, Quizzes, Assignments and study material.
--
You received this message because you are subscribed to the Google
Groups "vuZs" group.
--
To post a new message on this group, send email to vuZs@googlegroups.com
--
Message Posting Rules: http://vuzs.net/faq/4795-vuzs-google-groups-basic-rules-for-posting-messages.html
--
To unsubscribe from this group, send email to vuZs+unsubscribe@googlegroups.com
--
To join this group Send blank email from your virtual university email address to
vuZs+subscribe@googlegroups.com
or visit
http://groups.google.com/group/vuZs/subscribe
---
For more information Contact vuZs Manager at info@vuzs.net