The statement of Assets and Liabilities are Called

1. - Trail balance

2. - Balance sheet

3. - Profit and loss acc

4. - Trading account

 

Working Capital is

1. - Proprietors Capital

2. - Borrowed Capital

3. - Capital

4. - Current Assets - Current Liabilities

 

 Assets which are in form of cash or which can be readily or quickly converted in to cash are called

1. - Liquid

2. - Fixed

3. - Floating

4. - None of these

 

 The excess of Assets over Liability is called

1. - Cash

2. - Interest

3. - Capital

4. - Loan

 

 Net Sales - Cost of Goods Sold is equals to

1. - Income from operations

2. - Gross profit

3. - Net income

4. - None of these

 

Goodwill is categorized under which assets?

1. - Current

2. - Long term

3. - Intangible

4. - Fixed

 

 According to schedule accepted by Group of Restaurants to have uniformity in the accounting system which expenses are taken in schedule D8 in Income Statement

1. - Salary and wages

2. - Energy expenses

3. - Rent and rates

4. - Marketing expenses

 

EBIT stands for

1. - Earning before income and taxes

2. - Earning before interest and taxes

3. - Earning before insurance and taxes

 

The main Characteristics of Internal Control are

1. - Division of duty

2. - Leadership quality

3. - Experienced, Qualified and Trustworthy Personnel

4. - All of the above

 

 KOT stands for?

1. - Kitchen order ticket

2. - Kitchen oral ticket

 

If the Gross profit is Rs. 5,000 and the net profit is 25% of the Gross profit. Calculate expenses?

1. - 3750

2. - 1250

3. - 4250

4. - 6250

 

The statutory auditor of a hotel company should be

1. - Night auditor

2. - Internal auditor

3. - Accountant general

4. - Chartered accountant

 

 Statutory auditor is appointed by

1. - Shareholders

2. - Managing director

3. - Chief executive officer

 

 Internal audit is

1. - Compulsory

2. - Optional

3. - Compulsory for companies

4. - Compulsory for partnership

 

 Internal check is

1. - Compulsory

2. - Not compulsory

3. - None of the above

 

Night auditing is a part of

1. - Statutory audit

2. - Internal audit

3. - External audit

4. - None of these

 

In departmental accounting , only _______ department are taken re

1. - Revenue producing

2. - Cost incurring

3. - None operating

4. - None of these

 

 A statement prepared to show financial position of a business is called

1. - Balance sheet

2. - Trial balance

3. - Cash boom

4. - Petty cash book

 

 Financial statements are prepared by

1. - Accountant

2. - Auditor

3. - Cashier

4. - CA

 

________ is the part of internal control

1. - Segregation of duty

2. - Termination of employees

3. - Punishment of employees

 

Sales - cogs (cost of goods sold)

1. - Profit

2. - Net profit

3. - Gross profit

4. - Loss

 

D1

1. - Salary of employees

2. - Food sale

3. - Income tax

 

D4

1. - Other income

2. - Employees benefit

3. - Marketing expense

4. - Salary and wages

 

D6

1. - Interest

2. - Energy expense

3. - Administrative and general expense

4. - Direct operational expense

 

D15

1. - Depreciation

2. - Music and entertainment

3. - Rent and rates

4. - Interest