Management Sciences MCQs
These Management Sciences MCQs are for public service commission exams and BBA, and MBA students to prepare for their examinations. All MCQs are prepared after having a look at past papers of public service commission examinations held from time to time. These Management Science questions are very important for all types of tests conducted by FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, STS, ETEA, and other testing agencies of Pakistan.
Gross Profit is equal to_________?
A: Sales “ Cost of goods sold
B: Sales “ Closing Stock + Purchases
C: Opening Stock + Purchases “ Closing Stock
D: None of the above
Sales “ Cost of goods sold
Which of the following shall not be deducted from net profit while calculating managerial remuneration?
A: Loss on sale of undertaking
B: Debts considered bad and written off
C: Liability arising from a breach of contract
D: Directors remuneration Read More Details about this Mcq
Directors remuneration
Which of the following equations is correct?
A: Gross Profit+ Sales+ Direct expenses+ Purchases+ Closing stock = Opening stock
B: Gross Profit+ Sales+ Direct expenses+ Purchases- Closing stock = Opening Stock
C: Gross Profit + Opening Stock + Direct expenses + Purchases- Closing stock = Sales
D: Gross Profit “ Opening Stock + Direct expenses + Purchases +Closing stock = Sales
Gross Profit + Opening Stock + Direct expenses + Purchases- Closing stock = Sales
Which of the following is not true with regard to preparation of Profit & Loss Account?
A: Profit & Loss Account is prepared for a certain period and hence it is an interim statement
B: Profit & Loss Account does not disclose the effect of non-financial items
C: Net Profits are ascertained on the basis of current costs
D: Net Profits as disclosed by P&L Account is not absolute
Profit & Loss Account is prepared for a certain period and hence it is an interim statement
The Profit and Loss Account shows the:
A: Financial results of the concern for a period
B: Financial position of the concern on a particular date
C: Financial results of the concern on a particular date
D: Cost of goods sold during the period Read More Details about this Mcq
Financial results of the concern for a period
Which of the following will not appear in Profit and Loss Account of a business?
A: Drawings
B: Bad debts
C: Accrued expenses
D: Reserve for discount on Sundry Creditors Read More Details about this Mcq
Drawings
Which of the following is not a financial statement?
A: Profit and Loss Account
B: Balance Sheet
C: Funds Flow Statement
D: Trial Balance Read More Details about this Mcq
Trial Balance
If unexpired insurance appears in the Trial Balance, it should be:
A: Credited to the Profit & Loss Account
B: Debited to the Profit & Loss Account
C: Shown on the liabilities side of the Balance Sheet
D: Shown on the assets side of the Balance Sheet Read More Details about this Mcq
Shown on the assets side of the Balance Sheet
Which of the following are/is not a fixed asset?
A: Stock
B: Vehicle
C: Fixed deposit in bank
D: Both and
E: above
Both and above
Which of the following are/is a current asset?
A: Sundry Debtors
B: Stock
C: Prepaid insurance
D: All of
E: and
All of and above