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Pre-assessment Test: Finance Part - 1
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Instructions
Welcome to the Imarticus Finance Pre-assessment test. The objective of this test is to evaluate your eligibility for the Finance courses.
This test contains 3 sections, each of which is timed separately. The total time is 60 minutes.
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Part 1: Financial literacy
Instructions
Instructions: You have 10 minutes to complete this section.
This section contains 8 questions
1. Accounting provides information on
Financial conditions of an institution
Cost and income for managers
Company’s tax liability for a particular year
All of the above
2. The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
Current assets
Intangible assets
Investments
Fixed assets
3. The debts, which are to be repaid within a short period (year or less) are known as
Current liabilities
All of the above
Fixed liabilities
Contingent liabilities
4. The sales income (Credit and Cash) of a business during a given period is called
Sales returns
Turnover
Purchase returns
Transactions
5. The following is a statement showing the financial status of the company at any given time
Trading account
Profit and Loss statements
Balance sheet
Cash book
6. The following is a statement of revenues and expenses for a specific period of time
Trial balance
Trading account
Profit and loss statements
Balance sheet
7. The ratios that refer to the ability of the firm to meet the short term obligations out of its short term resources
Leverage ratios
Profitability ratios
Activity ratios
Liquidity ratio
8. Lower the Debt Equity ratio
Higher the protection to creditors
Lower the protection to creditors
It does not affect creditors
None of the above
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