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Management Sciences 5307 MCQs [All-Courses]

Management Sciences focuses on the planning, organizing, leading, and controlling of resources to achieve organizational goals.This subject is highly important for competitive exams, academic study, and professional careers in the business and public sectors.

The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?

A Depreciation

B Physical deterioration of the asset

C Decrease in market value of the asset

D Valuation of an asset at a point of time

Review Detailed Answer

Correct Answer: Depreciation

If the beginning work in process inventory units are 2600, units started are 9000, ending work in process units are 2300 and the completed good units are 8000 then total spoilage will be ____________?

A 1200 units

B 990 units

C 1300 units

D 1000 units

Review Detailed Answer

Correct Answer: 1300 units

In support of business transaction, any written evidence is called ___________?

A Discount

B Voucher

C Allowance

D Price

Review Detailed Answer

Correct Answer: Voucher

The concession received on the price of defective goods is called:

A Discount

B Cash discount

C Allowance

D Trading discount

Review Detailed Answer

Correct Answer: Allowance

Cash brought by the owner to start business is called__________?

A Capital

B Loan

C Drawing

D None of these

Review Detailed Answer

Correct Answer: Capital

reduction in price is called:

A Paid price

B Invoice price

C Book price

D Discount

Review Detailed Answer

Correct Answer: Discount

Sales return is also known as____________?

A Return received

B Return Payed

C Return inward

D Return outward

Review Detailed Answer

Correct Answer: Return inward

When goods, in which business deals are sold, it is called___________?

A Purchases

B Return inward

C Sales

D Return outwards

Review Detailed Answer

Correct Answer: Sales

The excess of current assets over current liabilities is called:

A Working Capital

B Circulating capital

C Fixed capital

D Trading capital

Review Detailed Answer

Correct Answer: Working Capital

Goods return to supplier are known as:__________?

A Merchandise return

B Purchase return

C Return inwards

D Sales return

Review Detailed Answer

Correct Answer: Purchase return

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?

If the beginning work in process inventory units are 2600, units started are 9000, ending work in process units are 2300 and the completed good units are 8000 then total spoilage will be ____________?

In support of business transaction, any written evidence is called ___________?

The concession received on the price of defective goods is called:

Cash brought by the owner to start business is called__________?

reduction in price is called:

Sales return is also known as____________?

When goods, in which business deals are sold, it is called___________?

The excess of current assets over current liabilities is called:

Goods return to supplier are known as:__________?