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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.

Which of the following is known as an evidence that a transaction took place?

A Cash receipts journal

B General journal

C Source document

D Cash book

Review Detailed Answer

Correct Answer: Source document

Specialized journals are more adequate for which TYPE OF BUSINESSES?

A Small businesses

B Big businesses

C Sole proprietorship

D Partnership

Review Detailed Answer

Correct Answer: Big businesses

Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals?

A Purchase journal

B Sales return journal

C General journal

D Cash receipt journal

Review Detailed Answer

Correct Answer: Sales return journal

SALE of old furniture” will be recorded in which of the following specialised journals?

A Purchase journal

B Sales journal

C General journal

D Cash receipt journal

Review Detailed Answer

Correct Answer: General journal

Debit note is the basis for recording a transaction in which of the following journals?

A General journal

B Cash journal

C Purchase journal

D Purchase return journal

Review Detailed Answer

Correct Answer: Purchase return journal

Credit purchase of plant and machinery is recorded in which of the following journals?

A General journal

B Cash journal

C Purchase journal

D Purchase return journal

Review Detailed Answer

Correct Answer: General journal

A brief explanation recorded below every entry in general journal is commonly known as__________?

A Narration

B Explanation

C Summary

D Other information

Review Detailed Answer

Correct Answer: Narration

Cash purchases is recorded in which of the following specialized journals?

A Purchase journal

B Sales journal

C Purchases return journal

D Cash payments journal

Review Detailed Answer

Correct Answer: Cash payments journal

Which of the following is a type of cash receipt journal + cash payment journal?

A Bank statement

B Statement of cash flow

C Cash book

D Cash documents

Review Detailed Answer

Correct Answer: Cash book

Cash received from debtor is recorded in which of the following SPECIALIZED journals?

A Purchase journal

B Sales journal

C Cash receipts

D Cash payments journal

Review Detailed Answer

Correct Answer: Cash receipts

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

Which of the following is known as an evidence that a transaction took place?

Specialized journals are more adequate for which TYPE OF BUSINESSES?

Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals?

SALE of old furniture” will be recorded in which of the following specialised journals?

Debit note is the basis for recording a transaction in which of the following journals?

Credit purchase of plant and machinery is recorded in which of the following journals?

A brief explanation recorded below every entry in general journal is commonly known as__________?

Cash purchases is recorded in which of the following specialized journals?

Which of the following is a type of cash receipt journal + cash payment journal?

Cash received from debtor is recorded in which of the following SPECIALIZED journals?