ms4003_2023T2_Q1_NA.pdf
Financial Forensics · Quiz 1 · May 2023
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Questions and published explanations below are available without starting a test. Some questions may not have a published solution yet.
Question 97 MCQ · 1.0 marks
Based on the information from the following table, answer the given subquestions.
Gama Corporation is a manufacturer of furniture. In a recent year, it reported the following
activities. Please note that the figures in the parenthesis indicates negative values.
[[IMAGE:048d9bed51fedd1b_3_0]]
What is the cash flow from operating activities ?
₹ 77,000
₹ (46,900)
₹ 56,700
₹ 66,500
A published solution is not available for this question yet.
Question 98 MCQ · 1.0 marks
Based on the information from the following table, answer the given subquestions.
Gama Corporation is a manufacturer of furniture. In a recent year, it reported the following
activities. Please note that the figures in the parenthesis indicates negative values.
[[IMAGE:048d9bed51fedd1b_3_0]]
What is the cash flow from investing activities ?
₹ 7,445
₹ 7,648
₹ 14,530
₹ 7,590
A published solution is not available for this question yet.
Question 99 MCQ · 1.0 marks
Based on the information from the following table, answer the given subquestions.
Gama Corporation is a manufacturer of furniture. In a recent year, it reported the following
activities. Please note that the figures in the parenthesis indicates negative values.
[[IMAGE:048d9bed51fedd1b_3_0]]
What is the cash flow from financing activities ?
₹ 9,865
₹ 12,665
₹ 2,165
₹ 10,010
A published solution is not available for this question yet.
Question 100 MCQ · 1.0 marks
Based on the information from the following table, answer the given subquestions.
Gama Corporation is a manufacturer of furniture. In a recent year, it reported the following
activities. Please note that the figures in the parenthesis indicates negative values.
[[IMAGE:048d9bed51fedd1b_3_0]]
What is the total cash flow of the company?
₹ 97,110
₹ 66,455
₹ 91,040
₹ 68,665
A published solution is not available for this question yet.
Question 101 MCQ · 1.0 marks
All of the following are non current assets except:
Land
Inventory
Machinery
Buildings
A published solution is not available for this question yet.
Question 102 MCQ · 1.0 marks
Mr. Steven started a furniture business with ₹ 55,00,000 as capital. 40% of the amount was
brought in cash and the remaining was kept in a bank account in the name of the business. What
would be the total of assets in the Balance sheet?
₹ 27,50,000
₹ 33,00,000
₹ 22,00,000
₹ 55,00,000
A published solution is not available for this question yet.
Question 103 MCQ · 1.0 marks
All of the following are long-term liabilities except:
Bonds payable
Current maturities of bank loan
Mortgage payable
Lease liabilities
A published solution is not available for this question yet.
Question 104 MCQ · 1.0 marks
XYZ Inc. hired a factory shed for monthly rent of ₹ 65,000. In the month of July 2022 the business
paid only 30% of the rent at the end of the month and the rest was outstanding. The rental
expenses in the income statement for the month of July will be
₹ 45,500
₹ 65,000
Not an expense till the full amount is paid
₹ 19,500
A published solution is not available for this question yet.
Question 105 MCQ · 1.0 marks
A business invested ₹ 15,00,000 in a bank in the form of fixed deposit. The transaction will result in
Increase and decrease in assets
Increase in assets and decrease in liability
Increase in expenditure and asset
Increase in liability and decrease in assets
A published solution is not available for this question yet.
Question 106 MCQ · 1.0 marks
At the beginning of the month the company hired workers and employees for a total monthly
remuneration of ₹ 78,000 payable at the end of each month. How would this transaction reflect in
the income statement and balance sheet at the beginning of the month?
Only expenses will increase by ₹ 78,000
Expense will increase by ₹ 78,000 and liabilities will also increase by equal
amount
Expense will increase by ₹ 78,000 and cash will decrease by the equal amount
There will be no effect on both the statement
A published solution is not available for this question yet.
Question 107 MCQ · 1.0 marks
An amount of ₹ 2,50,000 was spent towards advertisement and sales promotion activities. The
payment was made through cheque. The amount was decided to be amortized over a period of 5
years. What would be the amortization expense for the first year and the unamortized amount in
the balance sheet at the end of the first year
Amortized amount ₹ 1,00,000 and unamortized amount ₹ 1,50,000
Amortized amount ₹ 50,000 and unamortized amount ₹ 2,00,000
Amortized amount ₹ 2,00,000 and unamortized amount ₹ 50,000
Amortized amount ₹ 100,000 and unamortized amount ₹ 50,000
A published solution is not available for this question yet.
Question 108 MCQ · 1.0 marks
If Roobes & Co. had bought raw materials worth Rs. 5,00,000, for a trade discount of 10% and cash
discount of 20% for making immediate payment, the gross amount that would show under the
head purchases will be
₹ 3,50,000
₹ 5,00,000
₹ 4,50,000
₹ 3,60,000
A published solution is not available for this question yet.
Question 109 MCQ · 1.0 marks
Purchase of goods on cash basis reduces cash and increases
Liability
Equity
Inventory
Expense
A published solution is not available for this question yet.
Question 110 MCQ · 1.0 marks
Depreciation is
Reduction in value of the asset due to market movement
Is only a hypothetical number used to reduce profits
The amount spent on buying the asset
Reduction in value of the asset due to/and usage and passage of time
A published solution is not available for this question yet.
Question 111 MCQ · 1.0 marks
Dividend to the shareholders are paid out of
Profit before tax
Profit after tax
Profit before interest depreciation and tax
Profit before interest and tax
A published solution is not available for this question yet.
Question 112 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
The following table is the income statement of Zara Enterprises for three years. Each income
statement is missing some numbers; you are required to determine these missing numbers.
[[IMAGE:048d9bed51fedd1b_11_1]]
Enter the correct answer for **blank A** (in ₹ )
A published solution is not available for this question yet.
Question 113 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
The following table is the income statement of Zara Enterprises for three years. Each income
statement is missing some numbers; you are required to determine these missing numbers.
[[IMAGE:048d9bed51fedd1b_11_1]]
Enter the correct answer for **blank B** (in ₹ )
A published solution is not available for this question yet.
Question 114 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
The following table is the income statement of Zara Enterprises for three years. Each income
statement is missing some numbers; you are required to determine these missing numbers.
[[IMAGE:048d9bed51fedd1b_11_1]]
Enter the correct answer for **blank C** (in ₹ )
A published solution is not available for this question yet.
Question 115 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
The following table is the income statement of Zara Enterprises for three years. Each income
statement is missing some numbers; you are required to determine these missing numbers.
[[IMAGE:048d9bed51fedd1b_11_1]]
Enter the correct answer for **blank D** (in ₹ )
A published solution is not available for this question yet.
Question 116 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
The following table is the income statement of Zara Enterprises for three years. Each income
statement is missing some numbers; you are required to determine these missing numbers.
[[IMAGE:048d9bed51fedd1b_11_1]]
Enter the correct answer for **blank E** (in ₹ )
A published solution is not available for this question yet.
Question 117 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
The following table is the income statement of Zara Enterprises for three years. Each income
statement is missing some numbers; you are required to determine these missing numbers.
[[IMAGE:048d9bed51fedd1b_11_1]]
Enter the correct answer for **blank F** (in ₹ )
A published solution is not available for this question yet.
Question 118 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
The following table is the income statement of Zara Enterprises for three years. Each income
statement is missing some numbers; you are required to determine these missing numbers.
[[IMAGE:048d9bed51fedd1b_11_1]]
Enter the correct answer for **blank G** (in ₹ )
A published solution is not available for this question yet.
Question 119 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
The following table is the income statement of Zara Enterprises for three years. Each income
statement is missing some numbers; you are required to determine these missing numbers.
[[IMAGE:048d9bed51fedd1b_11_1]]
Enter the correct answer for **blank H** (in ₹ )
A published solution is not available for this question yet.
Question 120 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
The following table is the income statement of Zara Enterprises for three years. Each income
statement is missing some numbers; you are required to determine these missing numbers.
[[IMAGE:048d9bed51fedd1b_11_1]]
Enter the correct answer for **blank I** (in ₹ )
A published solution is not available for this question yet.
Question 121 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
The following table is the income statement of Zara Enterprises for three years. Each income
statement is missing some numbers; you are required to determine these missing numbers.
[[IMAGE:048d9bed51fedd1b_11_1]]
Enter the correct answer for **blank J** (in ₹ )
A published solution is not available for this question yet.
Question 122 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
Selected balance sheet items are shown for Roff Inc. Compute the missing amounts for each of
the four years.
[[IMAGE:048d9bed51fedd1b_16_2]]
Enter the correct answer for **blank A** (in ₹ )
A published solution is not available for this question yet.
Question 123 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
Selected balance sheet items are shown for Roff Inc. Compute the missing amounts for each of
the four years.
[[IMAGE:048d9bed51fedd1b_16_2]]
Enter the correct answer for **blank B** (in ₹ )
A published solution is not available for this question yet.
Question 124 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
Selected balance sheet items are shown for Roff Inc. Compute the missing amounts for each of
the four years.
[[IMAGE:048d9bed51fedd1b_16_2]]
Enter the correct answer for **blank C** (in ₹ )
A published solution is not available for this question yet.
Question 125 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
Selected balance sheet items are shown for Roff Inc. Compute the missing amounts for each of
the four years.
[[IMAGE:048d9bed51fedd1b_16_2]]
Enter the correct answer for **blank D** (in ₹ )
A published solution is not available for this question yet.
Question 126 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
Selected balance sheet items are shown for Roff Inc. Compute the missing amounts for each of
the four years.
[[IMAGE:048d9bed51fedd1b_16_2]]
Enter the correct answer for **blank E** (in ₹ )
A published solution is not available for this question yet.
Question 127 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
Selected balance sheet items are shown for Roff Inc. Compute the missing amounts for each of
the four years.
[[IMAGE:048d9bed51fedd1b_16_2]]
Enter the correct answer for **blank F** (in ₹ )
A published solution is not available for this question yet.
Question 128 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
Selected balance sheet items are shown for Roff Inc. Compute the missing amounts for each of
the four years.
[[IMAGE:048d9bed51fedd1b_16_2]]
Enter the correct answer for **blank G** (in ₹ )
A published solution is not available for this question yet.
Question 129 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
Selected balance sheet items are shown for Roff Inc. Compute the missing amounts for each of
the four years.
[[IMAGE:048d9bed51fedd1b_16_2]]
Enter the correct answer for **blank H** (in ₹ )
A published solution is not available for this question yet.
Question 130 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
Selected balance sheet items are shown for Roff Inc. Compute the missing amounts for each of
the four years.
[[IMAGE:048d9bed51fedd1b_16_2]]
Enter the correct answer for **blank I** (in ₹ )
A published solution is not available for this question yet.
Question 131 NAT · 0.5 marks
Answer the given subquestions based on the information from the respective table.
Selected balance sheet items are shown for Roff Inc. Compute the missing amounts for each of
the four years.
[[IMAGE:048d9bed51fedd1b_16_2]]
Enter the correct answer for **blank J** (in ₹ )
A published solution is not available for this question yet.