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12th Accountancy Weekly Test - 3 ( Ratio Analysis )

St. Britto Hr. Sec. School - Madurai

12th Accountancy Weekly Test - 3 ( Ratio Analysis )-Aug 2020

Time : 1.00 Hours

Part - A

Multiple Choice Question - Answer All Question

The mathematical expression that provides a measure of the relationship between two figures is called

Conclusion
Ratio
Model
Decision

While calculating Gross Profit ratio,

Closing stock is deducted from cost of goods sold
Closing stock is added to cost of goods sold
Closing stock is ignored
None of these

Liquidity ratios are otherwise called as ___________

Long term solvency ratio
Short term solvency ratio
Both (a) & (b)
None of these

Stock is a _____________

Fixed assets
Current assets
Current liability
Capital

The relationship of liquid assets to current liabilities is known as ________________

Liquid Ratio
Current Ratio
Absolute Liquid Ratio
Solvency Ratio

____________ can be calculated by deducting cost of goods sold from sales.

Gross profit
Net profit
Gross loss
Net loss

Match List I with List II and select the correct answer using the codes given below:

List I List II

(i) Current ratio 1. Liquidity

(ii) Net profit ratio 2. Efficiency

(iii) Debt-equity ratio 3. Long term solvency

(iv) Inventory turnover ratio 4. Profitability

(i) (ii) (iii) (iv)

1 2 3 4
(i) (ii) (iii) (iv)

1 4 3 2
(i) (ii) (iii) (iv)

3 2 4 1
(i) (ii) (iii) (iv)

4 3 2 1

_______________ Indicates the extent to which the firm depends upon outsiders for its existence

Debt-equity Ratio
Proprietary Ratio
Absolute Liquid Ratio
Solvency Ratio

Liquid liabilities means ________________

Current liabilities
Current liabilities – Bank overdraft
Current liabilities + Bank overdraft
None of these

Total sales is Rs.3,40,000 and the gross profit made is Rs.1,40,000. The cost of goods sold will be _________

Rs.2,00,000
Rs.4,80,000
Rs.3,40,000
Rs.2,10,000

To test the liquidity of a concern, which of the following ratios are useful?
(i) Quick ratio
(ii) Net profit ratio
(iii) Debt-equity ratio
(iv) Current ratio

(i) and (ii)
(i) and (iv)
(ii) and (iii)
(ii) and (iv)

Current ratio indicates

Ability to meet short term obligations
Efficiency of management
Profitability
Long term solvency

Turnover ratios are also known as ____________

Activity Ratios
Performance Ratios
Both (a) & (b)
None of these

Which of the following operation is correct?

Tangible Assets = Land + Building + Furniture
Tangible Assets = Land + Building + Goodwill
Tangible Assets = Land + Building + Furniture + Copy right
None of the above

Cost of revenue from operations Rs. 3,00,000; Inventory in the beginning of the year Rs. 60,000; Inventory at the close of the year Rs. 40,000. Inventory turnover ratio is

2 times
3 times
6 times
8 times

_____________ Assets = Total current assets - (Stock + Prepaid expenses)

Current
Liquid
Fixed
Tangible

Current assets excluding inventory and prepaid expenses is called

Reserves
Tangible assets
Funds
Quick assets

________________ is useful in finding the strength and weakness of a business concern

Financial Analysis
Ratio Analysis
Statement Analysis
None of these

Liquid ratio is otherwise known as __________

Current ratio
Absolute Ratio
Quick ratio/Acide test ratio
None of these

______________ Indicate the performance of the business

Activity Ratios
Solvency Ratios
Liquidity Ratios
Profitability Ratios

The relationship between sales and capital employed is known as ______________

Capital Turnover Ratio
Current Ratio
Stock Turnover Ratio
Solvency Ratio

Absolute liquid asset mean ________________

Cash, Bank, and Short term investments
Cash, Bank and Stock
Cash, Bank, Stock, and Prepaid Expenses
None of these

Solvency ratios are expressed in terms of ________________

Proportion
Times
Percentage
None of these

Given Sales is 1, 20,000 and Gross Profit is 30,000, the gross profit ratio is

24%
25%
40%
44%

Total sales of a business is Rs. 8,75,0000. If cash sales is Rs.3,75,000, then credit sales will be _____________

Rs.12,25,000
Rs.5,00,000
Rs.12,00,000
Rs.12,10,000

If selling price is fixed 25% above the cost, the Gross Profit ratio is

13%
28%
26%
20%

Shareholders funds includes ________________

Equity share capital, reference share capital, reserves & surplus
Loan from bank and financial institutions
Equity share capital, reference share capital, reserves & surplus, Loan from bank and financial institutions
None of the above

Which one of the following is not correctly matched?

Liquid ratio – Proportion
Gross profit ratio – Percentage
Fixed assets turnover ratio – Percentage
Debt-equity ratio – Proportion

Gross profit ratio established the relationship between

Gross profit & Total sales
Gross profit & Credit Sales
Gross profit & Cash sales
None of these

Prepaid expenses are shown in the ______________

Liabilities
Assets
Capital
None of these

_____________ ratio determines the overall efficiency of the business

Liquid Ratio
Net Profit Ratio
Gross Profit Ratio
Solvency Ratio

The Opening stock and Closing stock are Rs.72,000 and Rs.48,000 respectively. Then the average stock is ___________

Rs.1,20,000
Rs.60,000
Rs.24,000
Rs.20,000

Debt equity ratio is a measure of

Short term solvency
Long term solvency
Profitability
Efficiency

When total sales is Rs.2,00,000, cash sales is Rs.65,000, then credit sales will be Rs _______________

Rs.1,35,000
Rs.2,65,000
Rs.35,000
Rs.65,000

General Profitability ratios are based on ____________

Investments
Sales
Both (a) & (b)
Purchase

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