Mgt401 Current Spring 2012 Final Term VU Paper [July 2012] Virtual University of Pakistan
total questionz 64
57 mcqz 8 long questionz
57 mcqz 8 long questionz
1. What do you know about joint venture? (3 markz)
2. An asset, whose book value is Rs 89000 as discovered by fire after the balance sheet date, Required:
• identify the types of event
• what will be the accounting treatment (3 markz)
3.What types of provision created to reduce the asset? (3 markz)
4. List down the items that should be included in Cash flow from financing activities? 3 markz
5. Describe the basic terms for meaning the elements of Financial Statement with respect to the IASB’s framework.
• Historical cost
• Current cost
• Realizable cost (5 markz)
6. if account receivable at beginning Rs 250,000
Account receivable at end 190,000
Credit sale 30,000
Then calculate cash receipts from sale with the help of account receivable ledger account. 5 markz
7. What do you know about the administrative cost? Give 3 examples (5 markz)
8. a limited company acquired asset on lease; the fair value of the asset is Rs 59,738, the company has to pay Rs 10,000 as down payment and Rs 20,000
annually for three years , the interest rate implicit in the lease is 10 % p.a. calculate the Present Value of Minimum Lease Payment. (5 markz)
2. An asset, whose book value is Rs 89000 as discovered by fire after the balance sheet date, Required:
• identify the types of event
• what will be the accounting treatment (3 markz)
3.What types of provision created to reduce the asset? (3 markz)
4. List down the items that should be included in Cash flow from financing activities? 3 markz
5. Describe the basic terms for meaning the elements of Financial Statement with respect to the IASB’s framework.
• Historical cost
• Current cost
• Realizable cost (5 markz)
6. if account receivable at beginning Rs 250,000
Account receivable at end 190,000
Credit sale 30,000
Then calculate cash receipts from sale with the help of account receivable ledger account. 5 markz
7. What do you know about the administrative cost? Give 3 examples (5 markz)
8. a limited company acquired asset on lease; the fair value of the asset is Rs 59,738, the company has to pay Rs 10,000 as down payment and Rs 20,000
annually for three years , the interest rate implicit in the lease is 10 % p.a. calculate the Present Value of Minimum Lease Payment. (5 markz)
