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Management Sciences 5307 MCQs [All-Courses]

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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.

All Topics  5307

Which of these is not an operating income?
A Income from sale of trading goods
B Bad debts recovered
C Interest on FDs
D None
Correct Answer: Interest on FDs
Carriage on goods purchased is shown in:___________?
A Profit and Loss A/c
B Capitalized with work in progress
C Trading A/c
D Shown in Balance Sheet
Correct Answer: Trading A/c
Profit on sale of old plant is:___________?
A In Trading A/c
B In Profit and Loss Appropriation A/c
C Profit and Loss A/c
D Being a non operating item ignored
Correct Answer: Profit and Loss A/c
Depreciation Account appearing in the Trial Balance is shown in:
A Profit and Loss A/c
B Trading A/c
C Deducted from the concerned assets A/c
D Shown on the liability side
Correct Answer: Profit and Loss A/c
Closing stock appearing in the Trial Balance is shown in:
A Trading A/c and Balance Sheet
B Profit and Loss A/c
C Balance Sheet only
D Trading A/c only
Correct Answer: Balance Sheet only
Closing entries are generally passed:
A At the time of opening new books of account
B At the time of closing the accounts
C During the course of accounting period any time
D After certification of accounts
Correct Answer: At the time of closing the accounts
Which of the following is not a contingent liability?
A Debts included in Sundry Debtors which are doubtful in nature
B Uncalled liability on partly paid shares
C Claims against the company not acknowledged as debts
D Arrears of fixed cumulative dividend
Correct Answer: Debts included in Sundry Debtors which are doubtful in nature
Based on which of the following concepts, is Share Capital Account shown on the liabilities side of a Balance Sheet?
A Business entity concept
B Money measurement concept
C Going concern concept
D Matching concept
Correct Answer: Business entity concept
Which of the following is a current liability?
A Prepaid expenses
B Trademark
C Discount on issue of shares
D Outstanding Salaries
Correct Answer: Outstanding Salaries
Which of the following is not an intangible asset?
A Trade mark
B Franchise
C Accounts Receivable
D Secret Profit
Correct Answer: Accounts Receivable
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