Question # 1

What type of expense are paid out of gross profit?

Choose an answer

Selling expenses

general expenses

financial expenses

All of the above

The allocation of the cost of a tangible plant asset to expenses in the periods ,in which service are received from the asset is termed as

Choose an answer

Appreciation

Depreciation

Fluctuation

None of the gievn

Which of the following is NOT an example of current Asset?

Choose an answer

Bank draft

Accounts Receivable

Notes Receivable

Prepaid Expenses

A decrease in value of a fixed asset due to age ,wear and tear is known as

Choose an answer

depreciation

accumulated depreciation

WDV

All the cost incurred on the incomplete assets up to the balance sheet date must be transferred to:

Choose an answer

Capital account

Capital work in progress

Relevant asset account

The asset which have limited useful life are termed as :

Choose an answer

Limited assets

Depreciation assets

Unlimited assets

None of the given option

The product that are ready for sale are known as

Choose an answer

raw material

work in process

finished in goods

closing stock

Which of the following account balance will be shown on debit side of trail balance ?

Choose an answer

Capital account

Sundry credit accounts

Cash account

Which of the following shows summary of a company financial position at a specific date?

Choose an answer

Profit and loss account

Cash flow statement

Balance Sheet

If you start with cash book favourable balance in Bank Reconciliation Statement which item will be added?

Choose an answer

cheaque deposited but not credit by the bank

Cheques omitted to be deposited into the bank

any amount directly collected by bank on behalf of customer but not recorded in cash book

Debit side cash book was overcast.

In an account if credit< debit side then the balance is known as

Choose an answer

Negative Balance

Debit Balance

Positive Balance

Credit Balance

More Classes

Other Links

MGT-101 Final Term Exams Preparation Virtual University MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer