Re: [discussion_vu] MGT401 Online Quiz# 1 By Uthman Siddiq

Thank you for sharing recent quiz 1, i ll also share when i will attempt.

On 10/24/11, سیٌد عمر شاہ <mubarakanwer@gmail.com> wrote:
> *Assalam-u-Alaikum WRB!
>
> 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* *
>
> *
>
> --
> You received this message because you are subscribed to the Google Groups
> "Virtual University of Pakistan" group.
> To post to this group, send email to discussion_vu@googlegroups.com.
> To unsubscribe from this group, send email to
> discussion_vu+unsubscribe@googlegroups.com.
> For more options, visit this group at
> http://groups.google.com/group/discussion_vu?hl=en.
>
>

--
You received this message because you are subscribed to the Google Groups "Virtual University of Pakistan" group.
To post to this group, send email to discussion_vu@googlegroups.com.
To unsubscribe from this group, send email to discussion_vu+unsubscribe@googlegroups.com.
For more options, visit this group at http://groups.google.com/group/discussion_vu?hl=en.