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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.

Drawings by owner of business are generally recorded on which of the following side of a cash book?

A Receipts

B Payments

C Incomes

D Expenditures

Review Detailed Answer

Correct Answer: Payments

The normal balance of asset account is____________?

A Credit balance

B Debit balance

C Cash balance

D Neither debit nor credit balance

Review Detailed Answer

Correct Answer: Debit balance

A cash book that is used to record the small payments of cash is generally referred as_________?

A Simple cash book

B Two column cash book

C Three column cash book

D Petty cash book

Review Detailed Answer

Correct Answer: Petty cash book

The normal balance of capital account is_____________?

A Credit balance

B Debit balance

C Cash balance

D Neither debit nor credit balance

Review Detailed Answer

Correct Answer: Credit balance

Postage stamps on hand are considered as_________?

A Bank

B Prepaid expenses

C Accounts receivable

D Creditor

Review Detailed Answer

Correct Answer: Prepaid expenses

If debit balance is greater than creadit balance then the account blance will be__________?

A Credit balance

B Debit and credit balance

C Cash balance

D Debit balance

Review Detailed Answer

Correct Answer: Debit balance

Purchase of office equipment for cash will be recorded on which of the following sides of a cash book?

A Receipts

B Payments

C Incomes

D Expenditures

Review Detailed Answer

Correct Answer: Payments

Which of the following is known as the base for preparing trial balance?

A Journal

B Cash account

C Ledger account

D Balance sheet

Review Detailed Answer

Correct Answer: Ledger account

A simple or one column cash book usually has which of the following main columns?

A Bank

B Payments

C Discount

D Cash

Review Detailed Answer

Correct Answer: Cash

_________ will be credited if goods are given as charity?

A Cash

B Charity

C Purchases

D Sales

Review Detailed Answer

Correct Answer: Purchases

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

Drawings by owner of business are generally recorded on which of the following side of a cash book?

The normal balance of asset account is____________?

A cash book that is used to record the small payments of cash is generally referred as_________?

The normal balance of capital account is_____________?

Postage stamps on hand are considered as_________?

If debit balance is greater than creadit balance then the account blance will be__________?

Purchase of office equipment for cash will be recorded on which of the following sides of a cash book?

Which of the following is known as the base for preparing trial balance?

A simple or one column cash book usually has which of the following main columns?

_________ will be credited if goods are given as charity?