On This Page
This set of Advanced Corporate Accounting Multiple Choice Questions & Answers (MCQs) focuses on Advanced Corporate Accounting Set 2
Q1 | A ______________Accounting signifies the activities related to theconservation of Environment.
- Inflation
- Human Resource
- Environment
- Forensic
Q2 | The main elements of environmental accountingare______________________.
- Environmental Conservation costs and activities and environmental benefits
- Environmental activities and environmental benefits
- Environmental conversion costs and environmental benefits
- None of the above
Q3 | What is the classical view of management's social responsibility?
- To create specific environment in work place
- To maximize profit
- To protect and improve society’s welfare
- All of the above
Q4 | __________ is when a firm engages in social actions because of its obligation to meet certain economic and legal responsibilities
- SocialObligation
- Social Responsibility
- Social Responsiveness
- None of the above
Q5 | The recognition of the close link between an organisation's decisions andactivities and its impact on the natural environment is called __________.
- Global Environment
- Greening of management
- Social actions
- None of the above
Q6 | The stakeholder view of social responsibility states that organisations mustrespond to the needs of
- employees and customers
- shareholders and owners
- all interested parties
- all those who might sue the organisation
Q7 | _____________ establishes the principles that an entity applies whenreporting information about the nature, amount, timing and uncertainty of revenue and cash flows from a contract with a customer.
- IFRS 18
- IFRS 14
- IFRS 15
- IFRS 17
Q8 | The objective of _________ is to establish the principles that an entity shallapply to report useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer.
- Ind AS 115
- Ind AS 100
- Ind AS 110
- Ind AS 114
Q9 | _________is about the measurement of the items in the consolidatedfinancial statements, such as goodwill, non-controlling interest, etc.
- IFRS 4
- IFRS 10
- IFRS 9
- IFRS 3
Q10 | Goodwill on amalgamation can rise only if ________Method is followed.
- Valuation
- Percentage
- Purchase
- Merger
Q11 | _____________ is the process of significantly changing a company'sbusiness model, management team or financial structure to address challenges and increase shareholder value.
- Corporate restructuring
- Corporate reporting
- Amalgamation
- Reconstruction
Q12 | A merger of two or more companies that compete in the same industry.
- Horizontal
- Conglomerate
- Vertical
- None of the above
Q13 | Merger where two companies are in the same or related industries but do notoffer the same products, but related products and may share similar distribution channels, providing synergies for the merger is known as ____________ Merger.
- Horizontal
- Co generic
- Vertical
- Conglomerate
Q14 | A form of corporate restructuring in which the entity's business operationsare segregated into one or more components is known as __________________.
- Horizontal
- Disinvestment
- Demerger
- Takeover
Q15 | When one company takes over the management of the target company withthe permission of the board, it is known as ________________ takeover.
- Friendly
- Hostile
- Acquiring
- Disinvestment
Q16 | Any agreement between two or more parties to collaborate with each other,in order to achieve certain objectives while continuing to remain independent organizations is called _______________.
- Strategic alliance
- Franchising
- Joint Venture
- Disinvestment
Q17 | ________________accounting is the process by which companies andorganizations record the financial impact of agreements to rent or finance the rights to use specific assets.
- Corporate
- Responsibility
- Green
- Lease
Q18 | A ______________ is defined as an entity that provides the right to use anasset for a period of time in exchange for consideration.
- Contractor
- lessor
- Lessee
- None of the above
Q19 | A ____________ is a lease that transfers substantially all the risks andrewards incidental to ownership of an asset. Title may or may not eventually be transferred.
- Finance lease
- Operating lease
- Lessor
- Contract
Q20 | ____________ is the estimated remaining period, from the commencement ofthe lease term, without limitation by the lease term, over which the economic benefits embodied in the asset are expected to be consumed by the entity.
- Economic Life
- Useful Life
- Fair value
- None of the above
Q21 | ______________ is a term used in the field of accounting which measuresthe environmental and natural resources accounting, which tends to incorporate the natural and environmental assets of the firm and it’s resources.
- Social Accounting
- Green Accounting
- Inflation Accounting
- None of the above
Q22 | _________ highlights both the contribution of business enterprises toeconomic wellbeing and the costs imposed in the form of pollution or resource degradation.
- Social Accounting
- Environmental Accounting
- Inflation Accounting
- None of the above
Q23 | _______________ is concerned with the development of measurementsystem to monitor social performance.
- Social Accounting
- Environmental Accounting
- Inflation Accounting
- None of the above
Q24 | __________ is the method were all assets and liabilities are recorded on abalance sheet according to the cost of replacing them rather than their historical costs.
- Replacement Cost Accounting
- Current Value
- Current Cost Accounting
- None of the above
Q25 | ___________ acts as an evidence of social commitment.
- Social Accounting
- Environmental Accounting
- Inflation Accounting
- None of the above