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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 is a real account?
A Office equipment
B Rent expenses
C Rent income
D Insurance expense
Correct Answer: Office equipment
An average cost is also known as________?
A Variable cost
B Unit cost
C Total cost
D Fixed cost
Correct Answer: Unit cost
___________ helps business to classify transactions according to their nature?
A General journal
B Real accounts
C Ledger accounts
D Cash accounts
Correct Answer: Ledger accounts
When production is equal to sales, which of the following is TRUE?
A No change occurs to inventories for either use absorption costing or variable costing methods
B The use of absorption costing produces a higher net income than the use of variable costing
C The use of absorption costing produces a lower net income than the use of variable costing
D The use of absorption costing causes inventory value to increase more than they would though the use of variable costing
Correct Answer: No change occurs to inventories for either use absorption costing or variable costing methods
Office equipments account is classified as _________ account?
A Nominal
B Real
C Cash
D Capital
Correct Answer: Real
Which English alphabet is similar to the shape of an account?
A I
B T
C H
D None
Correct Answer: T
Building account is classified as _________ account?
A Nominal
B Real
C Cash
D Capital
Correct Answer: Real
The most common imprest system is the ________ system?
A Petty cash
B Cash book
C Cash receipt
D Discount
Correct Answer: Petty cash
The real accounts are accounts of Assets, liabilities and ___________?
A Expenses
B Revenues
C Capital
D Drawing
Correct Answer: Capital
A cash book with cash, bank and discount column is commonly referred as________?
A Cash book
B Two columns cash book
C Three columns cash book
D Petty cash book
Correct Answer: Three columns cash book
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