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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.

Building and furniture are called ____________?

A Current asset

B Fictitious asset

C Tangible asset

D Fixed assets

Review Detailed Answer

Correct Answer: Fixed assets

Expenses of the following nature are treated as a Revenue expenses except__________?

A Expenses for day to day running of the business

B Putting the new asset in working condition

C Depreciation

D Purchase of raw material

Review Detailed Answer

Correct Answer: Putting the new asset in working condition

Which of these types of expenditure would not be treated as a Capital Expenditure?

A Acquisition of an Asset

B Extension of an Asset

C Improvement of the existing Asset

D Maintenance of the Asset

Review Detailed Answer

Correct Answer: Maintenance of the Asset

Which of the following is a capital expenditure?

A Repair of plant and machinery

B Salary paid to workers

C Cost of stand by equipment

D Annual whitewash of the office building

Review Detailed Answer

Correct Answer: Cost of stand by equipment

Which of the following is a revenue expenses?

A Raw material consumed

B Plant purchased

C Long term loan raised from bank

D Share Capital

Review Detailed Answer

Correct Answer: Raw material consumed

Revenue is generally recognized as being earned at that point of time when?

A sale is effected

B cash is received

C production is completed

D debts are collected

Review Detailed Answer

Correct Answer: sale is effected

Revenue receipts are shown in___________?

A Balance Sheet

B Profit and Loss appropriation A/c

C Manufacturing A/c

D Trading and Profit and Loss A/c

Review Detailed Answer

Correct Answer: Trading and Profit and Loss A/c

Capital expenses are shown in___________?

A Balance Sheet

B Profit and Loss A/c

C Trading A/c

D None of these

Review Detailed Answer

Correct Answer: Balance Sheet

The periodic total of purchase day book is posted to____________?

A Purchase register

B Purchase A/c

C Cash purchase A/c

D Credit purchase A/c

Review Detailed Answer

Correct Answer: Purchase A/c

The periodic total of sales day book is posted to___________?

A Sales A/c

B Cash sales A/c

C Sales return A/c

D Credit sales A/c

Review Detailed Answer

Correct Answer: Sales A/c

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

Building and furniture are called ____________?

Expenses of the following nature are treated as a Revenue expenses except__________?

Which of these types of expenditure would not be treated as a Capital Expenditure?

Which of the following is a capital expenditure?

Which of the following is a revenue expenses?

Revenue is generally recognized as being earned at that point of time when?

Revenue receipts are shown in___________?

Capital expenses are shown in___________?

The periodic total of purchase day book is posted to____________?

The periodic total of sales day book is posted to___________?