Cash Flow Statement Test

Result

Cash Flow Statement Test - 3

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Weekly Quiz Competition

Question 1
1 / -0

General reserve appearing at the time of dissolution is transferred to

A
Capital A/c

B
Realisation A/c

C
Bank A/c

D
None of these

Solution

Capital A/c
Question 2
1 / -0

As per the dissolution of Garner Vs. Murray, the solvent partners are to being cash equal to their share of loss:

A
Bad debts

B
Realisation

C
Personal debts

D
None of these

Solution

Realisation
Question 3
1 / -0

Buy Back of equity shares is concerned with_________.

A
Financing Activities

B
Investing Activities

C
Operating Activities

D
Both Investing Activities and Operating Activities

Solution

Buy back of shares is concerned with financing activities. This is the situation where one company is buying its own shares form the open market as change in financial position.
Question 4
1 / -0

Proportionate Capital Method is otherwise called:

A
Maximum loss method

B
Balance method

C
Relative capital Method

D
None of these

Solution

Relative capital Method
Question 5
1 / -0

______ are highly liquid assets that can be converted into cash shortly.

A
Cash Equivalents

B
Inventories

C
Loose Tools

D
Non-current Investments

Solution

Cash Equivalents are highly liquid assets which can be converted into cash in a very short period of time. These are as well as Cash.
Question 6
1 / -0

Joint life policy reserve appearing at the time of dissolution of a firm is transferred to

A
Capital A/c

B
Realisation A/c

C
Liability A/c

D
None of these

Solution

Realisation A/c
Question 7
1 / -0

Payment of dividend is classified as_____________.

A
Operational activities

B
Financial activities

C
Investment activities

D
Both Operational activities and Investment activities

Solution

Payment of dividend is classified as financing activities. It is deducted in financing activities as its paid on share capital.
Question 8
1 / -0

Which of the following is not a cash inflow?

A
Goods sold in cash

B
Goods purchased in cash

C
Sale of asset at loss

D
Interest received on investment

Solution

Goods purchase in cash is not a cash inflow as in this transaction cash is going out.
Question 9
1 / -0

The various activities operating, investing and financing classified as per ___related to cash flow statement

A
AS – 4(revised)

B
AS – 3(revised)

C
AS – 6(revised)

D
AS – 5(revised)

Solution

The various activities in Cash Flow Statement as operating, investing and financing classified as per Accounting Standard – 3 (AS- 3 Revised).
Question 10
1 / -0

Which of the following is not concerned with Financing Activity?

A
Increase in Securities Premium

B
Issue of Equity Shares

C
Sale of Non-current investment

D
Loan taken from bank

Solution

Sale of investment is not concerned with financing activities in Cash Flow statement. It is concerned with investing activities.

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Re-Attempt Weekly Quiz Competition

Cash Flow Statement Test - 3

Result

Cash Flow Statement Test - 3

Score

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Rank

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SHARING IS CARING

Question 1

Capital A/c

Realisation A/c

Bank A/c

None of these

Solution

Question 2

Bad debts

Realisation

Personal debts

None of these

Solution

Question 3

Financing Activities

Investing Activities

Operating Activities

Both Investing Activities and Operating Activities

Solution

Question 4

Maximum loss method

Balance method

Relative capital Method

None of these

Solution

Question 5

Cash Equivalents

Inventories

Loose Tools

Non-current Investments

Solution

Question 6

Capital A/c

Realisation A/c

Liability A/c

None of these

Solution

Question 7

Operational activities

Financial activities

Investment activities

Both Operational activities and Investment activities

Solution

Question 8

Goods sold in cash

Goods purchased in cash

Sale of asset at loss

Interest received on investment

Solution

Question 9

AS – 4(revised)

AS – 3(revised)

AS – 6(revised)

AS – 5(revised)

Solution

Question 10

Increase in Securities Premium

Issue of Equity Shares

Sale of Non-current investment

Loan taken from bank

Solution

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Question Analysis

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