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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

Computers taken on hire by a business for a period of twelve months should be classified as:___________?
A Current assets
B Intangible assets
C Deferred revenue expenditure
D Not an asset
Correct Answer: Not an asset
The Balance Sheet gives information regarding the____________?
A Results of operations for a particular period
B Financial position during a particular period
C Profit earning capacity for a particular period
D Financial position as on a particular date
Correct Answer: Financial position as on a particular date
Which of the following statements is false ? select the false from below options
A Balance Sheet discloses financial position of the business
B A person who owes to the business is called Debtor
C Decrease in the value of the asset could decrease the value of a liability
D Assets are to be shown in the Balance Sheet at the realizable value
Correct Answer: Assets are to be shown in the Balance Sheet at the realizable value
Tax deducted at source appears in the Balance Sheet
A On the assets side under current assets
B On the assets side under loans and advances
C On the liabilities side under current liabilities
D On the liabilities side under provisions
Correct Answer: On the liabilities side under current liabilities
Which of the following are/is a current asset?
A Sundry Debtors
B Stock
C Prepaid insurance
D All of A. B. and C. above
Correct Answer: All of A. B. and C. above
Which of the following are/is not a fixed asset?
A Stock
B Vehicle
C Fixed deposit in bank
D Both A. and C. above
Correct Answer: Both A. and C. above
If unexpired insurance appears in the Trial Balance, it should be:
A Credited to the Profit & Loss Account
B Debited to the Profit & Loss Account
C Shown on the liabilities side of the Balance Sheet
D Shown on the assets side of the Balance Sheet
Correct Answer: Shown on the assets side of the Balance Sheet
Which of the following is not a financial statement?
A Profit and Loss Account
B Balance Sheet
C Funds Flow Statement
D Trial Balance
Correct Answer: Trial Balance
Which of the following will not appear in Profit and Loss Account of a business?
A Drawings
B Bad debts
C Accrued expenses
D Reserve for discount on Sundry Creditors
Correct Answer: Drawings
The Profit and Loss Account shows the:
A Financial results of the concern for a period
B Financial position of the concern on a particular date
C Financial results of the concern on a particular date
D Cost of goods sold during the period
Correct Answer: Financial results of the concern for a period
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