Quiz Space

Financial Forensics · Quiz 1 · 27 Oct 2024 · September 2024 term

Question 1: An owner of a business contributes ₹ 20,00,000 as capital…

Question 1

+1 markOne correct option

An owner of a business contributes ₹ 20,00,000 as capital. 30% of the amount was brought in cash and the remaining was kept in a bank account in the name of the business. What would be the total of assets in the Balance sheet?

  1. A

    6,00,000

  2. B

    14,00,000

  3. C

    20,00,000

  4. D

    None of these

Show answer

Correct answer

  • C

    20,00,000

See the whole paperTake it as a mock test

Question 1 of 23 in the IIT Madras BS Financial Forensics (Financial Forensics) Quiz 1 paper sat on 27 Oct 2024, in the September 2024 term (IIT M DEGREE AN EXAM QDB2 27 Oct 2024). It carries 1 mark.

More questions from this paper

  1. Q2Sold goods worth ₹ 86,000 for ₹ 98,000. A cash discount of 10% was offered to the customer if payment is settled immedi…
  2. Q3Goods costing ₹ 19,000 was taken by the owner from business for personal use. The value of the goods taken by the owner…
  3. Q4Issuing new shares of common stock would be classified under which category of cash flow?
  4. Q5A company splits its stock in the ratio 1:10 to increase liquidity of the stock in the market. Under which category in …
  5. Q6State Bank of India received INR 10,00,000 as interests on the loans that it gave to it's customers in 2022. How would …
  6. Q7At the beginning of the month the company hired workers and employees for a total monthly remuneration of ₹ 75,000 paya…
  7. Q8| ACCOUNTS PAYABLE | \ 241,000 | |---|---| | ACCOUNTS RECEIVABLE | \ 505,000 | | SALARY PAYABLE | \ 107,000 | | ACCUMUL…
  8. Q9A company sold goods worth \8,000 for \10,000 on Feb 2, 2024. 50% of it was paid by the customer immediately via RTGS, …
  9. Q10Which of the following would result in increase in cash inflow for ABC Incorporation?
  10. Q11A company's net income for the year is \100,000. Depreciation expense is \20,000. Accounts receivable increased by \10,…
  11. Q12A company's beginning cash balance is \50,000. Its net cash flow from operating activities is \30,000, from investing a…
  12. Q13A company reports the following:\ 1.Net income: \85,000\ 2.Depreciation expense: \25,000\ 3.Gain on sale of equipment: …
  13. Q14Capital stock was issued for \$100,000 cash
  14. Q15Inventory was purchased for \$15,900
  15. Q16Inventory costing \4,500 was sold for \7,200 on credit
  16. Q17The company declared a stock split, and replaced each outstanding share with two new shares
  17. Q18Total expenses for the month of April is
  18. Q19Total Revenue for the month of April is
  19. Q20Net profit for the month of April is
  20. Q21Balance Sheet | Assets | 2023 | 2022 | |---|---:|---:| | Current Assets | | | | Cash and Cash Equivalents | 7,000 | 5,0…
  21. Q22Balance Sheet | Assets | 2023 | 2022 | |---|---:|---:| | Current Assets | | | | Cash and Cash Equivalents | 7,000 | 5,0…
  22. Q23Balance Sheet | Assets | 2023 | 2022 | |---|---:|---:| | Current Assets | | | | Cash and Cash Equivalents | 7,000 | 5,0…