Accounting and Finance for Services
(AFS)
MCQs
1. According to principles for recognition of profit on incomplete contract, if percentage of completion is between 26%-50%, then the profit to be transferred to Profit & Loss A/c is _________.
A. 1/3 of NP(CR/WC)
B. Profit is recognized on the basis of estimated total profit
C. Nil
D. 2/3 of NP(CR/WC)
2. From the following information, calculate 'Occupancy Rate' assuming 360 Days in a year. Inpatient Days = 15,000; Staff Beds=50; Total number of Patients = 2,500
A. 50%
B. 60%
C. 69.44%
D. 83.33%
3. Which of the following is not true for Work Certified?
A. It is considered for calculating percentage of completion.
B. It represents work done during the period, and also certified by the architect/surveyor.
C. It does not include profit element, since it is based on contract price.
D. All are True
4. MICE refers to:
A. Meetings, Incentives, Conventions and Exhibitions
B. Member, Incentives, Conventions and Efficiency
C. Maximum, Interest, Company and Extension
D. Meetings, Incentives, Company and Extension
5. The Union Cabinet has approved the proposal of the Department of Commerce to give focussed attention to 12 identified service sectors for promoting their development, and realizing their potential. What are these 12 special services called?
A. Financial services
B. Champion services
C. Potential services
D. Government services
6. The rent of Double Room Suite is to be fixed 2 times of the Single Room Suite and rent of Triple Room Suite as three times of the Double Room Suite. Calculate Ratio of Room Rent to be charged.
A. 3:2:1
B. 1:2:3
C. 1:2:4
D. 1:2:6
7. Which of the following is not included in e-Visa?
A. e-Business Visa
B. e-Tourist Visa
C. e-Medical Visa
D. e-Education Visa
8. Lower average Length of Stay (ALOS) means _________.
A. Lower Efficiency
B. Higher Efficiency
C. No Efficiency
D. None of these
9. From the following information, Calculate RevPAR.
Number of rooms=100, average room rate=Rs.300, average occupancy rate-60%, Period = 80 days
A. Rs.180
B. Rs.14,400
C. Rs.48
D. Rs.4800
10. Average Occupancy Percentage = 80%, Number of rooms available = 3,000 rooms, Rooms Revenue Rs.3,00,000. What will be Average Daily Rate?
A. Rs. 80
B. Rs.125
C. Rs.100
D. None of these
11. Some patients go to a hospital just for diagnosis, treatment, or therapy and then leave without staying overnight. Such patients are called ________.
A. Inpatients
B. Outpatients
C. Both A and B
D. None of these
12. According to Revenue Recognition (AS 9), which method is adopted for recognising revenue in case of 'Tuition Fees'?
A. Completed Service Contract method
B. Proportionate completion method
C. Neither 'A' nor 'B'
D. Both 'A' and 'B'
13. If percentage of completion of incomplete contract is 45%, Notional profit is Rs.5,00,000, Cash Received is Rs.90,00,000 and Work Certified is Rs.1,00,00,000, Calculate how much profit is to be transferred to Profit & Loss A/c.
A. Rs.1,50,000
B. Rs.10,00,000
C. Rs.5,00,000
D. Rs.3,00,000
14. Service sector includes:
A. Financial services
B. Transport and Logistics
C. Entertainment
D. All of these
15. Sale of Food & Beverages= Rs.10,000; Cost of Food & Beverages= Rs.6,000; Repairs & Maintenance of Kitchen = Rs.1,000; Stationery Expense= Rs.500; Audit Fees = Rs.500. What will be the amount of profit from Food & Beverages Department?
A. Rs.4,000
B. Rs.2,500
C. Rs.2,000
D. Rs.3,000
16. Income from Blood Bank, Blood Test, Serum or Plasma testing, Tissue Testing etc. is considered as Income from
A. IPD Department
B. Pharmacy Department
C. OPD Department
D. Pathology Department
17. Which of the following is/are characteristics of services?
A. Intangibility
B. Inseparability
C. Not transfer of ownership
D. All of these
18. In hotels, ________ indicates the proportion of rooms either sold or occupied to the number of rooms available for the selected date or period.
A. Average Daily Rate
B. Average Rate per Guest
C. Foreign Visitors Ratio
D. Occupancy Percentage
19. A Hotel arranged a la Banquet for 1,000 persons. It was estimated that the food cost will be Rs.50,000, additional cost of staff will be Rs.20,000 and overhead could be allowed for at 20% of sales. What charge per guest should be made in order to produce a net profit of 10%?
A. Rs. 250
B. Rs. 200
C. Rs. 100
D. None of these
20. Welcome Hotel has three types of suites for its customers, viz. Single Room, Double Room and Triple Room. Following information is available:
|
Type of Suite |
Number |
Occupancy |
|
Single Room |
100 |
100% |
|
Double Room |
50 |
80% |
|
Triple Room |
30 |
60% |
Calculate Annual Room Days for all three types of Suites respectively. Assume 360 days in a year.
A. 35,000:14,000:6,500
B. 38,000:12,000:6,000
C. 10,000 4,000: 1,800
D. 36,000: 14,400: 6,480
21. From the following information, Calculate Average Length of Stay(ALOS). Total Patient Days 20,000; Outpatient Days= 9,000, Number of Inpatients Discharges = 2,000
A. 8 Days
B. 9 Days
C. 5.5 Days
D. 6.5 Days
22. Hotels can be classified on the basis of:
A. Nature
B. Tariff
C. Standards
D. All of these
23. In Accounting f for Real Estate Developers, which of the following costs should not be considered as a part of construction costs and development costs if they are material?
A. A Cost of Hiring Plant and Equipment
B. Research and Development Costs
C. Site Labour Costs
D. Depreciation of Plant and Equipment used for the project
24. From the following information, Calculate Patient Days of Narayan Hospital for General ward.
(Assume 365 Days in a Year)
Number of Wards=10
Number of Beds in each Ward = 20
Occupancy Rate for 200 Days =100%
Occupancy Rate for the rest of the year = 80%
A. 65,000
B. 32,000
C. 68,000
D. 66,400
25. Which of the following can be a Department in a Hotel?
A. Housekeeping
B. Finance and Accounts
C. Front Office
D. All of these
26. Cash Received from Contractee, which is 90% of Work Certified is Rs.1,43,82,000. Contract price is Rs.1,82,00,000. Calculate Work Certffed.
A. Rs. 1,63,80,000
B. Rs. 1,29,43,800
C. Rs.1,59,80,000
D. Rs. 12,654
27. Calculate Net income of Radiology department from the following details of Max Hospital:
Consultation charges receipt = Rs.2,00,000
Blood Test fees = Rs.87,000
Ultrasonography = Rs.1,25,000
Digital X-ray = Rs.25,000
Room charges = Rs.1,00,000
Salaries and Wages (Radiology Department) = Rs.25,000
Salaries and Wages (Pathology Department) = Rs.30,000
A. Rs.2,12,000
B. Rs.3,12,000
C. Rs.1,25,000
D. Rs.4,82,000
28. _________ refers to the fact that services cannot be saved, stored, resold, or retuned.
A. Customer participation
B. Heterogeneity
C. Perishability
D. None of these
29. What is the full form AYUSH?
A. Ayurveda, Yoga, Unani, Siddha, Homeopathy
B. Allopathy, Yoga, Unani, Siddha,Homeopathy
C. Allopathy, Yoga, Unani, Spiritual,Homeopathy
D. Allopathy, Yoga, Union, Siddha, Homeopathy
30. Calculate Net Revenue per Patient using the following information:
Gross Revenue =Rs. 12,00,000, Net Revenue = Rs. 10,00,000, Total Number of Inpatients = 2,000 Total Number of Outpatients = 3,000
A. Rs.333
B. Rs.200
C. Rs.240
D. Rs.500
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