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- 1.Nestle Pakistan Limited is Knownexample of. A)Merchandise B)Whole seller C)Manufacturing D)Service 2. is used to differentiate between tangible assets and inventories. A)The nature of the company's activity B)The moment in the accounting period when the asset is acquired C)The acquisition cost of the asset D)The physical substance of the asset Explain with correct option6/ Mr Hamed is working as a financial manager in a company he has to submit a repost on sales performance of company to the top management. He depended on internal sources to collect data and prepare repost. Which of the following sources helpful to collect data and a prepare report? a. Data from marketing department b. Data from government c. Data directly collected from the origin of item d. Data from news papers1.Purposiveness related to scientific investigation refers amongst others to a. It is based on solving problem, follows a step-by-step logical, organized method b. The fact that an investigation has a clear theoretical base. c. The probability that our estimations are correct d.The situation in which research is focused on solving a well?identified and defined problem 2. Help make certain decisions depending on customer profile, can be classified as a. descriptive study b. causal study c. exploration study d. explanation study 3. When the topic under investigation is very complex, can be classified as a. descriptive study b. causal study c. exploration study d. explanation study
- Sales tax rate 7% on account to Trailor Stores, $3,248.00, plus sales tax S321 1 3 Sold merchandise Received cash on account from Jenkins & Sanders LLP, covering S312 for $945.00. R348. 5 Recorded cash and credit card sales, $1,485.00, plus sales tax, $92.14; total, $1,577.14. TS6. Received cash on account from Luxury Suites, $4,219.00, covering 5320, less a 2% discount. R349. 10 Sold merchandise on account to Southwestern University, $1,435.00. Southwestern University is exempt from sales tax. S322. 12. Received cash on account from Daniel Smith Promotions, $1,471.00 covering 5345. R350. 16. Recorded cash and credit card sales, $1,020.50, plus sales tax, $64.59, total, $1,085.09. TS7. 20 prove, and rule the sales journal. Pas the sales journal to the general ledger. Tal and prove the cash receipts journal. Pove cash. On March 31, the balance on the next unused check stub was $11,582.54. Rule the cash receipts journal. 1. Post the cash receipts journal to the general ledger.…Firm’s mission statement can improve and hurt the performance of a firm. Explain the reasons for such argument.6.Differentiate one of these risk assessments that may be affected by psychological, ideological, religious orotherwise subjective factors, which impact rationality of the process.A. Individual risk assessmentB. Systems risk assessmentC. Simple risk assessmentD. All the above 7.All the statements below involve Risk mitigation EXCEPT A. Obtaining insurance against lossB. Developing system standards (policies, procedures, responsibility standards)C. Performing contingent planningD. Identification of project risks 8.Choose the TRUE statements regarding Risk Assessment.I. Identify hazards and risk factors that have the potential to cause harm.II. A source or a situation with a potential for harm in terms of human injury or ill health.III. Possibility of suffering harm or injury.IV. Analyze and evaluate the risk associated with that hazard. A. I, III & IVB. I & IIIC. I & IVD. I, II & IV 9.Identify two correct answers for Hierarchy of ControlI. EliminationII.…
- 3. “There are number of conditions that need to be satisfied before an agency of necessity can be created”. Briefly explain any TWO (2) of those conditions.13. With a fixed value stock bid, the only the bidding company’s shareholders face market and operational risk between the deal announcement and completion date. True/False and WHYBriefly define or explain each of these terms:b. Bill of materials
- 4. Leda’s Manufacturers (Pty) Ltd has experienced a huge loss of revenue since Covid 19 lockdown. The company have resorted to internal consulting to save costs. List six (6) benefitsof internal corporate consulting to the management of Leda’s Manufacturers.The Acme Electric Company worked day and night to develop a new current regulator designed to cut the electric power consumption in aluminum plants by 35%. They knew that, although the competition was fierce, their regulator could be produced more cheaply, was more reliable, and worked more efficiently than the competitors’ products. The owner, eager to capture the market, personally but somewhat hastily put together a 120-page proposal to the three major aluminum manufacturers, recommending that their regulators be installed at all company plants. She devoted the first 87 pages of the proposal to the mathematical theory and engineering design behind his new regulator, and the next 32 to descriptions of the new assembly line she planned to set up to produce regulators quickly. Buried in an appendix were the test results that compared her regulator’s performance with present models, and a poorly drawn graph showed how much the dollar savings would be. Acme Electric didn’t get the…25. The primary focus of the Statement of Activities of a not-for-profit organization is on determining the net increase/decrease in which of the following? a) Unrestricted Net Assets. b) Temporarily Restricted Net Assets. c) Permanent Net Assets. d) Net Assets of the entity taken as a whole. 26. Under the GASB Statement No. 34 reporting model for governmental entities, which of the following is required? a) Only one set of financial statements, prepared on the full accrual basis of accounting. b) Only one set of financial statements, prepared on the modified accrual basis of accounting. c) Two sets of financial statements, one that views the government as a collection of separate funds and reports using the current financial resources measurement focus and modified accrual basis of accounting for governmental funds and one that views the government as a whole by combining all governmental activities in one column and all business-type activities in another column using the full…
