Management Sciences MCQs – Page 543

✅ B. For mutual financial accommodation

Option A : Genuine trade reasons Option B : For mutual financial accommodation Option C : To help augment money supply Option D : All the three Correct Answer : For mutual financial accommodation Read more

✅ B. Credit

Option A : Debit Option B : Credit Option C : Expenses Option D : Liability Correct Answer : Credit Read more

✅ C. 3

Option A : 4 Option B : 2 Option C : 3 Option D : 5 Correct Answer : 3 Read more

✅ A. Acceptors Account is debited in the books of drawer

Option A : Acceptors Account is debited in the books of drawer Option B : Bills Receivable Account is credited in the books of drawer Option C : Bank Account is debited in the books of drawer Option D : Bills Payable Account is debited in the books of drawer Read More Details about this Mcq Correct Answer : Acceptors… Read more

✅ E. All of these

Option A : Debit Bills Receivable Account Option B : Debit Drawees Account Option C : Credit Drawees Account Option D : Credit Sales Account Correct Answer : All of these Read more

✅ B. The person responsible for dishonour

Option A : The drawer of the bill Option B : The person responsible for dishonour Option C : The holder of the bill Option D : The endorser of the bill Read More Details about this Mcq Correct Answer : The person responsible for dishonour Read more

✅ C. Remitting or receiving the amount

Option A : Discounting of the bill with the bank Option B : Payment of the bill on due date Option C : Remitting or receiving the amount Option D : Sending the bill to bank for collection Read More Details about this Mcq Correct Answer : Remitting or receiving the amount Read more

✅ A. When a discounted bill is honoured by the drawee on the due date

Option A : When a discounted bill is honoured by the drawee on the due date Option B : When a bill is sent to the bank for collection Option C : When a bill is renewed at the request of the drawee Option D : When a debtor accepts a bill drawn by the drawer Correct Answer : When… Read more

✅ C. It is payable to the bearer

Option A : It must be in writing Option B : It contains an unconditional promise to pay Option C : It is payable to the bearer Option D : It must be signed by the maker Read More Details about this Mcq Correct Answer : It is payable to the bearer Read more

✅ C. 60,000

Option A : 50,000 Option B : 55,000 Option C : 60,000 Option D : 65,000 Correct Answer : 60,000 Read more

✅ C. 4th July,2018

Option A : 30th June,2018 Option B : 1st July,2018 Option C : 4th July,2018 Option D : 4th August,2018 Read More Details about this Mcq Correct Answer : 4th July,2018 Read more

✅ E. All of these

Option A : Income received in advance Option B : Stock Option C : Debtors Option D : Pre-paid expenses and Accrued income Correct Answer : All of these Read more

✅ B. At the time of closing the accounts

Option A : At the time of opening new books of account Option B : At the time of closing the accounts Option C : During the course of accounting period any time Option D : After certification of accounts Correct Answer : At the time of closing the accounts Read more

✅ C. Balance Sheet only

Option A : Trading A/c and Balance Sheet Option B : Profit and Loss A/c Option C : Balance Sheet only Option D : Trading A/c only Correct Answer : Balance Sheet only Read more

✅ A. Profit and Loss A/c

Option A : Profit and Loss A/c Option B : Trading A/c Option C : Deducted from the concerned assets A/c Option D : Shown on the liability side Correct Answer : Profit and Loss A/c Read more

✅ C. Profit and Loss A/c

Option A : In Trading A/c Option B : In Profit and Loss Appropriation A/c Option C : Profit and Loss A/c Option D : Being a non operating item ignored Correct Answer : Profit and Loss A/c Read more

✅ C. Trading A/c

Option A : Profit and Loss A/c Option B : Capitalized with work in progress Option C : Trading A/c Option D : Shown in Balance Sheet Correct Answer : Trading A/c Read more

✅ C. Interest on FDs

Option A : Income from sale of trading goods Option B : Bad debts recovered Option C : Interest on FDs Option D : None Correct Answer : Interest on FDs Read more

✅ A. 2,40,000

Option A : 2,40,000 Option B : 2,10,000 Option C : 2,00,000 Option D : 1,80,000 Correct Answer : 2,40,000 Read more

✅ A. 6441

Option A : 6441 Option B : 5431 Option C : 7654 Option D : 9876 Correct Answer : 6441 Read more