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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

The term of the auditor ship of first auditor would be from the date of appointment till________?
A the conclusion of statutory meeting
B the conclusion of first annual general meeting
C the conclusion of next annual general meeting
D the date of removal
Correct Answer: the conclusion of first annual general meeting
The board of directors shall appoint first auditor of a company
A With in one month of completion of capital subscription state of the company
B With in one month of the promotion of the company
C With in one month of the commencement of the business of the company
D With in one month of incorporation of the company
Correct Answer: With in one month of incorporation of the company
Who is responsible for the appointment of statutory auditor of a limited company ?
A Directors of the company
B Members of the company
C The Central Government
D All of the above
Correct Answer: Members of the company
Which of the following expenses should not be treated as capital expenditure?
A Expenses paid on installation of a plant.
B Cost of dismantling a building in case a new building is to be constructed on the land
C Legal expenses incurred to defend a suit related to title of patent.
D The fees paid to engineer who constructed the plant.
Correct Answer: Legal expenses incurred to defend a suit related to title of patent.
If the book value of an asset stands at________per cent of the original cost, a company need not provide depreciation on it.
A two
B fifteen
C five
D ten
Correct Answer: five
Which of the following is a revenue reserve?
A Capital redemption reserve
B Security premium account
C Debenture redemption reserve
D Capital reserve
Correct Answer: Debenture redemption reserve
Which of the following will not lead to creation of secret reserve?
A Undervaluation of closing stock
B Charging capital expenditure to revenue
C Goods sent on consignment being shown as actual sales
D Charging higher rates of depreciation on fixed assets than actually required
Correct Answer: Goods sent on consignment being shown as actual sales
Depreciation does not arise form _______
A effluxion of time
B use
C obsolescence through technology be market changes
D remarket expectation
Correct Answer: remarket expectation
Which of the following is not a revenue expense?
A Cost of raising a loan
B Cost of accessories of motor vehicles spent at the time of purchase
C Expenses incurred for laying of sewers on land purchased
D Insurance premium paid at the time of registration of the ship
Correct Answer: Cost of accessories of motor vehicles spent at the time of purchase
Which of the following factors is most important in determining the appropriations of audit evidence?
A The reliability of audit evidence and its relevance in meeting the audit objective
B The objectivity and integrity of the auditor
C The quantity of audit evidence
D The independence of the source of evidence
Correct Answer: The reliability of audit evidence and its relevance in meeting the audit objective
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