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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

Bad debts recovered account will be transferred to______________?
A Debtor‘s Account
B Profit and Loss Account
C Provision for Doubtful Debt Account
D Either B or C above
Correct Answer: Either B or C above
____________is also known as Appraisal system of depreciation?
A Inventory system
B Survey system
C Annuity system
D Insurance
Correct Answer: Inventory system
Which of the following is not depreciated?
A Building
B Land
C Plant and Machinery
D Office equipment
Correct Answer: Land
Which of the following is an external cause of depreciation?
A Routine repair and maintenance
B Misuse
C Obsolescence
D Wear and tear
Correct Answer: Obsolescence
Depreciation is calculated on the____________?
A Cost price of asset
B Market price
C Cost+ Transport+ Installation expenses
D Cost or market values whichever is less
Correct Answer: Cost+ Transport+ Installation expenses
Which of the following statements is correct about Depreciation?
A Depreciation cannot be provided in case of loss in a financial year
B Depreciation is a charge against profit
C Depreciation is provided in the books only when there is profit
D Depreciation is an appropriation of profit
Correct Answer: Depreciation is a charge against profit
In which of the following methods, the cost of the asset is spread over in equal proportion during its useful economic life?
A Straight-line method
B Written down value method
C Units-of-production method
D Sum-of-the years‘-digits method
Correct Answer: Straight-line method
Which of the following factors are primarily considered to determine the economic life of an asset?
A Passage of time, asset usage, and obsolescence
B Tax regulations and SEBI guidelines
C Tax regulations and asset usage
D SEBI guidelines and Asset usage
Correct Answer: Passage of time, asset usage, and obsolescence
The portion of the acquisition cost of the asset yet to be allocated is known as___________?
A Written down value
B
C
D
Correct Answer: Written down value
Depreciation is a process of____________?
A Valuation
B Valuation and allocation
C Allocation
D Appropriation
Correct Answer: Allocation
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