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.
The Basic accounting equation is___________?
A: Asset=Expense +Income
B: Assets=Cash+Capital
C: Assets=Capital+Liabilities
D: Assets=Expenses+Capital
Assets=Capital+Liabilities
The normal balance of capital account is_____________?
A: Credit balance
B: Debit balance
C: Cash balance
D: Neither debit nor credit balance
Credit balance
The normal balance of asset account is____________?
A: Credit balance
B: Debit balance
C: Cash balance
D: Neither debit nor credit balance
Debit balance
The normal balance of liability account is____________?
A: Debit balance
B: Credit balance
C: Cash balance
D: Neither debit nor credit balance
Credit balance
Which of the following statements is incorrect regarding capital account?
A: Debit increases the capital account balance
B: Credit increases the capital account balance
C: Fresh capital increases the capital account balance
D: Net income increases the capital account balance
Debit increases the capital account balance
Which of the following is known as the base for preparing trial balance?
A: Journal
B: Cash account
C: Ledger account
D: Balance sheet
Ledger account
If debit balance is greater than creadit balance then the account blance will be__________?
A: Credit balance
B: Debit and credit balance
C: Cash balance
D: Debit balance
Debit balance
What is equity?
A: Cash from the business
B: liability of a business
C: Owners claim on total assets
D: Owners claim on total liabilities
Owner™s claim on total assets
Identify the asset from the following:
A: Cash and cash equivalent
B: Creditors
C: Notes payable
D: Bank loan
Cash and cash equivalent