introduction to accounting

Jun 21st, 2015
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Accounting is the process of identifying, measuring, and communicating economic information to help informed judgments and decisions by the users of the information . The Following steps are included in Accounting: Forecasting and planning for future operation of the business by providing management with evaluations of the viability of proposed operations.

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1. Which of the following is not a feature of personal Financial Planning?a) Risk profiling of clientb) Defining a basic asset allocation for the clientc) Monitoring achievement of goals periodicallyd) Churning investment portfolio often to achieve best returns2. Which of the following is not directly linked to achieving a financial goal?a) Cash Flow managementb) Taking a risk coverc) Investment Managementd) Retirement Planning3. Which of the following best defines Financial Planning process?a) Managing finances while managing risks as well in meeting an individuals financial goalsb) Managing investments dynamically to achieve best returnsc) Managing finances with least risk so that financial goals do not suffer due to investment and market risksd) Accumulating appropriate sums to achieve goals of life without resorting to borrowings4. Following is the most important determinant for an investment plan to achieve the desired goal.a) Choosing the best investment productb) Choosing the asset class giving best returnsc) Choosing an asset allocation appropriate to ones situationd) Managing investment portfolio through tactical asset allocation5. Calculate the Net worth of Ramesh with the financial details as: House worth Rs. 50 lac, Housing loan outstanding Rs. 26 Lac, Mutual Fund investments Rs. 6 Lac, PPF Rs. 6.5 Lac, Cash and bank deposits Rs. 1.8 Lac, personal loan Rs. 1.3 Lac, Gold & jewellery Rs. 3.2 Lac.a) Rs. 37.00 Lacb) Rs. 40.20 Lacc)

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