Pre-assessment Test: Finance Part – 1 Reading Time: < 1 minuteYour time is up, your responses has been submittedThe Time Limit Has Been Reached 0 Hours 0 Minutes 0 Seconds 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. HiddenEmail 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 Untitled Δ
