Correct Answer:- Option-B
Question38:-On completion of Annual Audit the auditor's report is issued on
A:-31st March
B:-31st December
C:-Any date later than the end of the period
D:-All of these correct
Correct Answer:- Option-C
Question39:- is the owner of Working Papers in a company audit.
A:-Company
B:-Board of Directors
C:-Auditor
D:-None of these
Correct Answer:- Option-C
Question40:- audits the books of accounts of government companies as per the Companies Act.
A:-CAG
B:-Auditor appointed by the BOD
C:-Chartered Accountant
D:-Government
Correct Answer:- Option-A
Question41:-The job of figuring out the ways and means of financing investment projects is decision.
A:-Capital Budgeting
B:-Capital Structure
C:-Working Capital Management
D:-Alll of these
Correct Answer:- Option-B
Question42:-The process of is used for calculating the Present Value of a cash flow.
A:-Compounding
B:-Annuity
C:-Reducing
D:-Discounting
Correct Answer:- Option-D
Question43:- investors have a claim on residual cash flows of the firm.
A:-Debt
B:-Equity
:-Preference
D:-Alll of these
Correct Answer:- Option-B
Question44:- leverage arises from the firm's fixed costs such as salaries, depreciation, insurance etc.
A:-Operating
inancial
:-Both (1) and (2)
D:-None of these
Correct Answer:- Option-A

Question45:-When inventories and receivables are supported by credit provided by suppliers and the customers pay in
advance then a firm cash have a Working Capital.

A:-Zero
-Negative
C:-Positive
D:-Either (1) or (2)
Correct Answer:- Option-D
Question46:- is a non-discounting criteria to judge the worthwhileness of investment projects.
A:-IRR
B:-NPV
C:-ARR
D:-None of these
Correct Answer:- Option-C
Question47:-When ‘Profit after tax' is divided by 'book value of assets’, we get

B:-IRR