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

Qno8 the answer is c the fourth schedule

On Mon, Oct 24, 2011 at 11:15 PM, mc080401659 Zarqa Zarnigar <mc080401659@vu.edu.pk> wrote:

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* *
>
> *

>
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