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Accountant exam practice set

41. Certificate of commencement of business is not required by a—
(A) Public company
(B) Any type of company
(C) Private company
(D) Private company subsidiary to a public company

42. Henry Fayol is known for—
(A) Scientific management
(B) Rationalisation
(C) Industrial psychology
(D) Principles of managements

43. The principle of unity of command’ implies—
(A) Unity of thought and action
(B) Unity amongst subordinates
(C) Instructions from staff authority
(D) Instructions from line authority

44. A company has equity capital of Rs. 200000. Preference capital of Rs. 100000, 12% debentures of Rs. 100000, long term loan of Rs. 200000 and short term loan of Rs. 100000. The capital gearing ratio will be—
(A) 1:1
(B) 0.5: 1
(C) 0.4: 1
(D) None of the above

45. In case of a company, total assets less outside liabilities is called—
(A) Net working capital
(B) Gross working capital
(C) Deferred liabilities
(D) Net worth