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71. The balance of Revaluation Reserve pertaining to an asset that has been disposed off or retired can be transferred to?

A. General Reserve A/c
B. Profit & Loss A/c
C. Asset A/c
D. Capital Reserve A/c

72. Average Accounting Return is a measure of accounting profit relative to:

A. Book value
B. Intrinsic value
C. Cost
D. Market value

73. During the accounting period, sales revenue is Rs. 25,000 and accounts receivable increases by Rs. 8,000. What will be the amount of cash received from customers for the period?

A. Rs. 33,000
B. Rs. 25,000
C. Rs. 17,000
D. Rs. 8,000

74. Which of the following form of business organization is least regulated?

A. Sole-proprietorship
B. General Partnership
C. Limited Partnership
D. Corporation

75. Which of the following statement is considered as the accountant’s snapshot of firm’s accounting value as of a particular date?

A. Income Statement
B. Balance Sheet
C. Cash Flow Statement
D. Retained Earning Statement

76. Period cost include which of the following ?

A. selling Expense
B. Direct labor
C. factory overhead
D. selling Expenses & administrative expenses

77. The compensation paid by the borrower of fund to lender, from the borrower point of the cost of borrowing fund is called?

A. Interest Rate
B. Required rate of return
C. Nominal interest rate
D. All of the above

78. An income statement in which each item expressed as percentage of Sale?

A. Balance sheet
B. income statement
C. common size income statement
D. All of the Above

79. Short term Assets expected to be converted into cash within 1 year or less than?

A. Current Assets
B. Fixed Assets
C. Current Assets& current liabilities
D. All of the above

80. _________is the cost of converting raw material into finished products?

A. Prime cost
B. Explicit cost
C. Job order cost
D. Conversion cost