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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 the following enhances the earning capacity of an asset?
A Increase in working capacity of an asset
B Reduction in operating costs
C Replacing damaged parts of an asset
D Both A and C above
Correct Answer: Both A and C above
Which one of the following is a capital expenditure?
A Compensation paid to Directors on termination of their services
B Expenditure incurred in connection with the renewal of a Trade Mark.
C Gratuities paid to Directors on termination of their services.
D Royalty paid in installments for the purchase of rights to manufacture and sell patient medicines.
Correct Answer: Compensation paid to Directors on termination of their services
Which of the following statements are / is true? – Events after Balance Sheet are?
A All the significant events after the Balance Sheet date
B The events after Balance Sheet date but before submitting it to the Registrar of Companies
C The events after Balance Sheet date but before its approval by the board
D All changes after Balance Sheet date before its approval
Correct Answer: The events after Balance Sheet date but before its approval by the board
Which one of the following should be considered a revenue expenditure?
A 1000 paid for the execution of a new plant
B Loss of 10,000 incurred in increasing the sitting accommodation of a hotel
C Damage paid on account of breach of a contract to supply certain goods
D Repair to machinery purchased, second hand.
Correct Answer: Damage paid on account of breach of a contract to supply certain goods
The balance of which of the following accounts do not disappear, once they are debited/credited to Trading Account?
A Sales
B Purchases
C Inward returns
D Closing stock
Correct Answer: Closing stock
Which of the following is an item of capital expenditure?
A Research and development costs during the year
B Interest on borrowed fund utilized for acquisition of Office Furniture
C Installation charges paid in conjunction with the purchase of Office Equipment
D Monthly rent of a machinery used in the business
Correct Answer: Installation charges paid in conjunction with the purchase of Office Equipment
Any donation received for a specific purpose is a_________?
A Liability
B Assets
C Revenue receipts
D Capital receipts
Correct Answer: Capital receipts
Which of the following is not a deferred revenue expenditure?
A Expenses in connection with issue of equity shares
B Preoperative expenses
C Heavy advertising expenses to introduce a new product
D Legal expenses incurred in defending a suit for breach of contract to supply goods
Correct Answer: Legal expenses incurred in defending a suit for breach of contract to supply goods
Capital expenditure is an expenditure which
A Benefits the current accounting period
B Will benefit the next accounting period
C Results in the acquisition of a permanent asset
D Results in the acquisition of a current asset
Correct Answer: Results in the acquisition of a permanent asset
Which of the following should not be treated as revenue expenditure?
A Interest on loans and debentures
B Annual fire insurance premiums on Plant and Equipment
C Sales tax paid in connection with the purchase of office equipment
D Small expenditures on long- lived assets, such as ` 20 for a paper weight.
Correct Answer: Sales tax paid in connection with the purchase of office equipment
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