More Classes

5th Class
6th Class
7th Class
8th Class
9th Class
10th Class
11th Class
12th Class
NAT I
NAT II
CSS
IQ
General Knowledge
MDCAT
ECAT
GAT General
GAT Subject

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

Question # 1

Commercial accounting is based on

Choose an answer

Single entry book keeping

Double entry book keeping

Both single and double entry book keeping

cash basic of book keeping

Skip

Question # 2

Cost incurred for the maintenance of the shop is considered as

Choose an answer

Deferred expense

Capital expenses

Revenue expenses

Preliminary expenses

Skip

Question # 3

Depreciation arises because of :

Choose an answer

Fall in the market value of an asset

Fall in the value of money

Physical wear and tour

All of the above

Skip

Question # 4

According to double entry system of accounting,an accounting that obtain benefit is

Choose an answer

Debit

Credit

Income

Skip

Question # 5

An estimate of the income and expenses needed to carry out business plans for a fiscal year is known as :

Choose an answer

Budgeting

costing

Management

Auditing

Skip

Question # 6

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

Choose an answer

Bank draft

Accounts Receivable

Notes Receivable

Prepaid Expenses

Skip

Question # 7

While making income and expenditure account,excess of income over expenses in a specified accounting is called :

Choose an answer

Profit

Loss

Surplus

Deficit

Skip

Question # 8

Which of the following is NOT prepared by Non Profit organization?

Choose an answer

Profit and loss account

Income and expenditure account

Receipts and payments accounts

Balance sheet

Skip

Question # 9

_____ is the amount for which an assets could be exchanged between knowledge willing parties in a arm length transaction

Choose an answer

Present Value

Fair Value

Book Value

Skip

Question # 10

When a liability is reduced or decreased,it is recorded on the

Choose an answer

Right or the debt side of the account

Left or the debt side of the account

Left or the credit side of the account

Right or the credit side of the account

Skip

Question # 11

Word credit is derived from

Choose an answer

Latin

English

French

Chinese

Skip

Back