Current Development In Accounting-01

CHAPTER -15 CURRENT DEVELOPMENTS IN ACCOUNTING 1) Which of the following approach excludes those types of employees who can be hired from outside a) Standard cost approach

c) Replacement cost approach

b) Opportunity cost approach

d) Present value cost approach

2) Which of the following are important models of Present value approach? a) Net benefit model

c) Reward valuation model

b) Total cost concept

d) All the above

3) ____________ is the process of identifying and measuring data about human resources for effective management within organization a) NVA

c) HRM

b) GVA

d) HRA

4) Net Value added is derived by deducting the following from the gross value added a) Commission

c) Depreciation

b) Interest

d) Tax

5) Human Resource Accounting provides useful information to a) Management

c) Employees

b) Financial analysis

d) All the above

6) Human resource accounting helps individual employees in improving their a) Purchasing power

c) Performance

b) Bargaining power

d) Both b and c

Multiple Choice Questions on Current developments in Accounting prepared by the students of ICFAI National College- Mehdipatnam, under the guidance of Mr. Mohd. Nazeer Ahmed, Faculty Member for Finance.

1

7) In India, financial statements of companies have to be prepared as per the provisions of Company’s Act a) 1967

c) 1956

b) 1957

d) 1964

8) Importance of Human resource accounting in India is growing in all sectors including a) Private sector

c) semi public

b) Public sector

d) Both a & b

9) Forensic Accounting is also called as a) Inflation accounting

c) Investigation accounting

b) cost accounting

d) Human resource accounting

10) Put the steps involved in the review carried out by the forensic accounting in correct order i) Collecting the evidence relevant to the problem ii) Evaluation and Summarization of evidence iii) Recognition of problem iv) Preparation and submission of report v) Plan for review a) i, ii, v, iii, iv

c) iii, v, i, ii, iv

b) iv, i, ii, v

d) v, iii, iv, i

11) Evaluation and summarization of evidence is done by a) Statistical techniques

c) Quantitative techniques

b) Computer aided techniques

d) both a & b

Multiple Choice Questions on Current developments in Accounting prepared by the students of ICFAI National College- Mehdipatnam, under the guidance of Mr. Mohd. Nazeer Ahmed, Faculty Member for Finance.

2

12) Inflation is the overall upward movement of prices of goods and services which is measured by a) Consumer price index

c) both a & b

b) Producer price index

d) only a

13) In absence of which factor from the balancesheet discloses the true financial position of a company a) Brand valuation

c) Valuation of net present value

b) Valuation of asset

d) both a & b

14) It has become necessary for companies to determine the values of their brand in order to reflect its a) Intrinsic value

c) both a & b

b) Capital asset value

d) None of the above

15) Which method of brand valuation is widely accepted in most of the markets around the world a) Intrinsic value method

c) Present value method

b) Earning valuation method

d) Net asset value method

16) How many stages does Earning valuation method has a) Two stages b) Three stages

c) one stage d) six stages

17) Earning valuation method process involves a) Determining the total earnings attributable to a brand b) Applying an appropriate multiplier to determine its present value c) Both a & b d) None of above

Multiple Choice Questions on Current developments in Accounting prepared by the students of ICFAI National College- Mehdipatnam, under the guidance of Mr. Mohd. Nazeer Ahmed, Faculty Member for Finance.

3

18) Which method involves in stating the brand value at its cost to the company is a) Cost method

c) Net value added method

b) Management accounting method

d) none of above KEY

1.b 7.c 13.a

2.d 8.b 14.a

3.d 9.c 15.b

4.c 10.c 16.a

5.d 11.d 17.c

6.d 12.c 18.a

Multiple Choice Questions on Current developments in Accounting prepared by the students of ICFAI National College- Mehdipatnam, under the guidance of Mr. Mohd. Nazeer Ahmed, Faculty Member for Finance.

4