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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 most common imprest system is the ________ system?

A Petty cash

B Cash book

C Cash receipt

D Discount

Review Detailed Answer

Correct Answer: Petty cash

The real accounts are accounts of Assets, liabilities and ___________?

A Expenses

B Revenues

C Capital

D Drawing

Review Detailed Answer

Correct Answer: Capital

A cash book with cash, bank and discount column is commonly referred as________?

A Cash book

B Two columns cash book

C Three columns cash book

D Petty cash book

Review Detailed Answer

Correct Answer: Three columns cash book

Revenue and expense accounts are referred as______________?

A Nominal accounts

B Real account

C Cash accounts

D Banks account

Review Detailed Answer

Correct Answer: Nominal accounts

Introduction capital by owner of business is recorded on which side of a cash book?

A Receipts

B Payments

C Incomes

D Expenditures

Review Detailed Answer

Correct Answer: Receipts

Which of the following is the normal balance of a rent expense account?

A Credit balance

B Cash balance

C Overdraft

D Debit balance

Review Detailed Answer

Correct Answer: Debit balance

Cash discount is allowed on _______ repayment of debt.

A Lump sum

B Prompt

C Actual

D None of them

Review Detailed Answer

Correct Answer: Prompt

Which of the following statements is incorrect regarding capital account?

A Debit increases the capital account balance

B Credit increases the capital account balance

C Fresh capital increases the capital account balance

D Net income increases the capital account balance

Review Detailed Answer

Correct Answer: Debit increases the capital account balance

Payment of rent expenses is recorded on which side of cash book?

A Receipts

B Payments

C Income

D Expense

Review Detailed Answer

Correct Answer: Payments

The normal balance of liability account is____________?

A Debit balance

B Credit balance

C Cash balance

D Neither debit nor credit balance

Review Detailed Answer

Correct Answer: Credit balance

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

The most common imprest system is the ________ system?

The real accounts are accounts of Assets, liabilities and ___________?

A cash book with cash, bank and discount column is commonly referred as________?

Revenue and expense accounts are referred as______________?

Introduction capital by owner of business is recorded on which side of a cash book?

Which of the following is the normal balance of a rent expense account?

Cash discount is allowed on _______ repayment of debt.

Which of the following statements is incorrect regarding capital account?

Payment of rent expenses is recorded on which side of cash book?

The normal balance of liability account is____________?