1S4F1A1_PAK-82

119. In Inflation Accounting, the purchasing power Gain arises because of _____ .
(A) monetary Assets
(C) monetary items
(B) monetary liabilities
(D) All of the above
120. The term ‘Revenue Loss’ is similar to the term _____ .
(A) revenue expenditure
(C) revenue receipt
(B) revenue income
(D) deferred loss
121. Which of the following is not an Adjustment under Current Cost Accounting Method?
(A) Cost of sales Adjustment
(C) Gearing Adjustment
(B) Depreciation Adjustment
(D) Purchasing Power Gain
122. Which of the following is an entry Value Approach to Inflation Accounting?
(A) Current Purchasing Power
(C) Both A and B
(B) Current Cost Accounting
(D) None of the above
123. The following is not considered in Monetary Working Capital Adjustment.
(A) Debtors
(C) Creditors
(B) Cash
(D) None of the above
124. Transactions are always with _____
(A) Internal parties
(C) External parties
(B) Management
(D) None of the above
125. Events are considered only _____
(A) on the first day of the accounting year
(B) on the last day of the accounting year
(C) during the accounting year
(D) Both A and B
126. _____ is the part of social responsibility of a firm.
(A) Net Income Contribution
(C) Environment Contribution
(B) Public Contribution
(D) All of the above
127. Profit and Loss account part II discloses _____ .
(A) the gross profits or losses
(C) Cost of goods sold
(B) the net profits or losses
(D) Sales and closing stock
ACG - A ] 19 P.T.O.