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- What is a fund? Distinguish between a fund and an appropriation of retained earnings.Working capital represents the portion of current assets financing through long term funds. This indicates 1. Net Working Capital 2. Gross Working capital Select one: O a. 2 is correct O b. Both 1 and 2 are correct O c. 1 is correct O d. Neither of the two are correctWhere is the capitalized income recorded? Debit aide of Income and expenditure A/C Deducted from capital fund in Balance Sheet Credit side of Income and expenditure A/C Added to Capital Fund in the Balance Sheet
- Which one of the following fund accounting required to prepare a statement of cash flow? a. Proprietary fund b. None of the options c. Fiduciary fund d. General fundTraditional Approach of finance was limited to Select one: a. Utilization of Funds Ob. Procurement and efficient utilization of funds c. All of the above O d. Procurement of FundsThe total cash count minus the amount of the Change Fund should be equal to: a.the total current liabilities. b.the expenses incurred. c.the income earned. d.the total revenue earned.
- Which function of the financial system allows funds to flow from the surplus spending units to the deficit spending units. *a. provides liquidityb. promotes savingsc. means for storing wealthd. protection from risks30. Financial markets: A. facilitate the exchange of financial assets B. provide information about prices of financial assets C. provide a channel for funds to flow between the providers and users of funds D. All of the given answers.The funds invested in current assets are termed as Select one: a. long term assets b. Short term loans c. None of the options d. Net Working Capital e. Short-term liabilities