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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 compensation paid by the borrower of fund to lender, from the borrower point of the cost of borrowing fund is called?

A Interest Rate

B Required rate of return

C Nominal interest rate

D All of the above

Review Detailed Answer

Correct Answer: Interest Rate

Period cost include which of the following ?

A selling Expense

B Direct labor

C factory overhead

D selling Expenses & administrative expenses

Review Detailed Answer

Correct Answer: selling Expense

Which of the following statement is considered as the accountant’s snapshot of firm’s accounting value as of a particular date?

A Income Statement

B Balance Sheet

C Cash Flow Statement

D Retained Earning Statement

Review Detailed Answer

Correct Answer: Balance Sheet

Which of the following form of business organization is least regulated?

A Sole-proprietorship

B General Partnership

C Limited Partnership

D Corporation

Review Detailed Answer

Correct Answer: Sole-proprietorship

During the accounting period, sales revenue is Rs. 25,000 and accounts receivable increases by Rs. 8,000. What will be the amount of cash received from customers for the period?

A Rs. 33,000

B Rs. 25,000

C Rs. 17,000

D Rs. 8,000

Review Detailed Answer

Correct Answer: Rs. 17,000

Average Accounting Return is a measure of accounting profit relative to:

A Book value

B Intrinsic value

C Cost

D Market value

Review Detailed Answer

Correct Answer: Book value

The balance of Revaluation Reserve pertaining to an asset that has been disposed off or retired can be transferred to?

A General Reserve A/c

B Profit & Loss A/c

C Asset A/c

D Capital Reserve A/c

Review Detailed Answer

Correct Answer: Capital Reserve A/c

At the time of preparation of financial accounts, bad debt recovered account will be transferred to?

A Debtors A/c

B Profit & Loss A/c

C Profit & Loss Adjustment A/c

D Profit & Loss Appropriation A/c

Review Detailed Answer

Correct Answer: Profit & Loss A/c

Under the direct write-off method of recognizing a bad debt expense. Which of the following statements is/are true?

A The bad debt expense is not matched with the related sales

B Revenue is overstated in the year of sales

C It violates the matching principle of accounting

D All of the above

Review Detailed Answer

Correct Answer: All of the above

The creation of provision for doubtful debts given as an adjustment requires____________?

A Debit Profit and Loss Account and deduct the provision from debtors

B Credit Profit & Loss Account and deduct the provision from debtors

C Credit Profit and Loss Account and add the provision to debtors

D Debit Profit & Loss Account and add the provision to debtors

Review Detailed Answer

Correct Answer: Debit Profit and Loss Account and deduct the provision from debtors

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

The compensation paid by the borrower of fund to lender, from the borrower point of the cost of borrowing fund is called?

Period cost include which of the following ?

Which of the following statement is considered as the accountant’s snapshot of firm’s accounting value as of a particular date?

Which of the following form of business organization is least regulated?

During the accounting period, sales revenue is Rs. 25,000 and accounts receivable increases by Rs. 8,000. What will be the amount of cash received from customers for the period?

Average Accounting Return is a measure of accounting profit relative to:

The balance of Revaluation Reserve pertaining to an asset that has been disposed off or retired can be transferred to?

At the time of preparation of financial accounts, bad debt recovered account will be transferred to?

Under the direct write-off method of recognizing a bad debt expense. Which of the following statements is/are true?

The creation of provision for doubtful debts given as an adjustment requires____________?