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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.

If credit side of a bank account is greater than the debit side, it indicates which of the following?

A Bank overdraft

B Cash at bank

C Bank balance

D Current Asset

Review Detailed Answer

Correct Answer: Bank overdraft

Postdated checks are considered as__________?

A Cash

B Bank balance

C Accounts receivable

D Cash reserve

Review Detailed Answer

Correct Answer: Accounts receivable

An account records the ___________ in the balance of an item?

A Increase

B Decrease

C Increase or decrease

D Appreciation

Review Detailed Answer

Correct Answer: Increase

Petty cash fund is supposed to be replenished?

A Every day

B Every half year

C Every year

D At the end of every accounting period

Review Detailed Answer

Correct Answer: At the end of every accounting period

Transferring entries from journal to ledger account is commonly known as____________?

A Recording

B Transferring

C Posting

D Entry making

Review Detailed Answer

Correct Answer: Posting

A credit balance in cash book indicates?

A Bank balance

B Cash at bank

C Bank overdraft

D Bank underdraft

Review Detailed Answer

Correct Answer: Bank overdraft

Which of the following accounts can be classified as a real account?

A Rent expenses account

B Rent income account

C insurance expenses account

D Cash account

Review Detailed Answer

Correct Answer: Cash account

The closing balance of petty cash book is considered as_________?

A Liability

B Asset

C Expenses

D Income

Review Detailed Answer

Correct Answer: Asset

Identify the nominal account

A Machinery account

B Building account

C Creditors account

D Rent expenses account

Review Detailed Answer

Correct Answer: Rent expenses account

Discount received is recorded on which of the following side of a cash book?

A Receipts

B Payments

C Incomes

D Expenditures

Review Detailed Answer

Correct Answer: Payments

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Management Sciences 5307 MCQs [All-Courses]

All Topics 5307

All Topics 5307

If credit side of a bank account is greater than the debit side, it indicates which of the following?

Postdated checks are considered as__________?

An account records the ___________ in the balance of an item?

Petty cash fund is supposed to be replenished?

Transferring entries from journal to ledger account is commonly known as____________?

A credit balance in cash book indicates?

Which of the following accounts can be classified as a real account?

The closing balance of petty cash book is considered as_________?

Identify the nominal account

Discount received is recorded on which of the following side of a cash book?