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Top Scorers Of MGT-101 Final Term Exams Preparation Virtual University MCQ`s Test

Sr.#	Question	Answer
1	Word credit is derived from	A. Latin B. English C. French D. Chinese
2	What type of expense are paid out of gross profit?	A. Selling expenses B. general expenses C. financial expenses D. All of the above
3	Which of the following account will be credited if business purchased a vehicle on cash?	A. vehicle account B. cash account C. bank account
4	Which of the following statement is NOT TRUE about current liabilities?	A. These are due with in one year B. These are short term loans C. These are consists of all debts,payable after 12 months D. In working capital, these are deducted from current assets
5	Gross profit>Operating expenses=?	A. Net profit B. Cost of loss sold C. Net loss D. Gross loss
6	Which of the following is not an item of Balance Sheet?	A. Accounts receivable B. accounts payable C. sales revenue D. marketable securities
7	Economic resource owned by a business and expected to benefit for the future operation are called :	A. Expenses B. Assets C. Capital
8	Depreciation value of an asset is equal to	A. cost + scrape value B. cost + market value C. cost - scrap value D. none of the given
9	Firms chargers depreciation each year :	A. To ensure there is enough money in the firm to replace the asset B. To spread the cost of the asset over its working life C. Because the law state must be reduced
10	Bank book is a part of :	A. Voucher B. General journal C. General ledger D. trail balance