NTA-NET (Based on NTA-UGC) Commerce (Paper-II): Questions 629 - 631 of 1264

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Question number: 629

» Financial and Management Accounting » Basic Accounting Concept

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Appeared in Year: 2006

Match List-Ⅰ List-Ⅱ▾

Question

Match the following: List- I & List - II

List-Ⅰ (Column I) List-Ⅱ (Column II)

(A)

Matching Principle

(i)

Revenues and expenses of a particular period

(B)

Conservatism Principle

(ii)

Ignores future profit estimations

(C)

Materiality Principle

(iii)

Normal basis for valuing assets

(D)

Cost Principle

(iv)

Relates to relative size or importance of item or event

Choices

Choice (4) Response
  • (A)
  • (B)
  • (C)
  • (D)

a.

  • (iv)
  • (iii)
  • (i)
  • (ii)

b.

  • (i)
  • (ii)
  • (iv)
  • (iii)

c.

  • (iv)
  • (ii)
  • (iii)
  • (i)

d.

  • (ii)
  • (iv)
  • (i)
  • (iii)

Question number: 630

» Business Environment » Concept

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Appeared in Year: 2010

MCQ▾

Question

Read the following statements:

(i) Financial statements are only interim reports.

(ii) Financial statements are prepared on the basis of realizable values.

(iii) The preparation of financial statements is not an ultimate aim.

(iv) Certain assumptions are necessary to prepare financial statements.

Which of the following combinations consists of all true statements? (December Paper-2)

Choices

Choice (4) Response

a.

(ii), (iii) and (iv)

b.

(i), (iii) and (iv)

c.

(i), (ii) and (iii)

d.

(i), (ii) and (iv)

Question number: 631

» International Business » Balance of Payments

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Appeared in Year: 2010

Assertion-Reason▾

Question

Assertion (Ꭺ)

Positive balance of payment includes Low imports and high exports

Reason (Ꭱ)

Positive balance of payment includes High imports and low exports. (December Paper-2)

Choices

Choice (4) Response

a.

Both Ꭺ and Ꭱ are true and Ꭱ is the correct explanation of Ꭺ

b.

Ꭺ is true but Ꭱ is false

c.

Ꭺ is false but Ꭱ is true

d.

Both Ꭺ and Ꭱ are false

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