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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

Depreciation Account appearing in the Trial Balance is shown in:
A Profit and Loss A/c
B Trading A/c
C Deducted from the concerned assets A/c
D Shown on the liability side
Correct Answer: Profit and Loss A/c
Closing stock appearing in the Trial Balance is shown in:
A Trading A/c and Balance Sheet
B Profit and Loss A/c
C Balance Sheet only
D Trading A/c only
Correct Answer: Balance Sheet only
Closing entries are generally passed:
A At the time of opening new books of account
B At the time of closing the accounts
C During the course of accounting period any time
D After certification of accounts
Correct Answer: At the time of closing the accounts
Which of the following is not a contingent liability?
A Debts included in Sundry Debtors which are doubtful in nature
B Uncalled liability on partly paid shares
C Claims against the company not acknowledged as debts
D Arrears of fixed cumulative dividend
Correct Answer: Debts included in Sundry Debtors which are doubtful in nature
Based on which of the following concepts, is Share Capital Account shown on the liabilities side of a Balance Sheet?
A Business entity concept
B Money measurement concept
C Going concern concept
D Matching concept
Correct Answer: Business entity concept
Which of the following is a current liability?
A Prepaid expenses
B Trademark
C Discount on issue of shares
D Outstanding Salaries
Correct Answer: Outstanding Salaries
Which of the following is not an intangible asset?
A Trade mark
B Franchise
C Accounts Receivable
D Secret Profit
Correct Answer: Accounts Receivable
Computers taken on hire by a business for a period of twelve months should be classified as:___________?
A Current assets
B Intangible assets
C Deferred revenue expenditure
D Not an asset
Correct Answer: Not an asset
The Balance Sheet gives information regarding the____________?
A Results of operations for a particular period
B Financial position during a particular period
C Profit earning capacity for a particular period
D Financial position as on a particular date
Correct Answer: Financial position as on a particular date
Which of the following statements is false ? select the false from below options
A Balance Sheet discloses financial position of the business
B A person who owes to the business is called Debtor
C Decrease in the value of the asset could decrease the value of a liability
D Assets are to be shown in the Balance Sheet at the realizable value
Correct Answer: Assets are to be shown in the Balance Sheet at the realizable value
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