Management Sciences MCQs – Page 545

✅ B. Vehicle

Option A : Stock Option B : Vehicle Option C : Fixed deposit in bank Option D : Both and Correct Answer : Both and above Read more

✅ A. Sundry Debtors

Option A : Sundry Debtors Option B : Stock Option C : Prepaid insurance Option D : All of Correct Answer : All of and above Read more

✅ C. Cost to acquire less accumulated amortization

Option A : Replacement cost Option B : Current cost Option C : Cost to acquire less accumulated amortization Option D : Cost less expired portion Read More Details about this Mcq Correct Answer : Cost less expired portion Read more

✅ A. Credited to P&L A/c

Option A : Credited to P&L A/c Option B : Debited to P&L A/c Option C : Reduced from debtors in Balance Sheet Option D : Added to debtors in Balance Sheet Read More Details about this Mcq Correct Answer : Credited to P&L A/c Read more

✅ B. Deduct prepaid expenses from respective expenses and show it as an asset

Option A : Add prepaid expenses to respective expenses and show it as an asset Option B : Deduct prepaid expenses from respective expenses and show it as an asset Option C : Add prepaid expenses to respective expenses and show it as a liability Option D : Deduct prepaid expenses from respective expenses and show it as a liability… Read more

✅ C. Debit Reserve for Discount on Accounts Payable A/c and Credit P&L A/c

Option A : Debit P&L A/c and Credit Reserve for Discount on Accounts Payable A/c Option B : Debit Accounts Payable A/c and Credit P&L A/c Option C : Debit Reserve for Discount on Accounts Payable A/c and Credit P&L A/c Option D : Debit Reserve for Discount on Accounts Payable A/c and credit Accounts Payable A/c Read More Details… Read more

✅ C. Adding 1,800 to closing stock and deducting 2,200 each from debtors and sales

Option A : Adding 2,200 to closing stock Option B : Deducting 1,800 from closing stock and deducting 2,200 each from debtors and sales Option C : Adding 1,800 to closing stock and deducting 2,200 each from debtors and sales Option D : Deducting 1,800 from debtors Correct Answer : Adding 1,800 to closing stock and deducting 2,200 each from… Read more

✅ D. Debit of 600 and 200 to insurance company and Profit and Loss Account respectively and credit of 800 to Trading Account

Option A : Debit of 800 to Trading Account and credit of 600 and 200 to insurance company and Profit and Loss Account respectively Option B : Deduct the 800 from closing stock in the Trading Account Option C : Credit insurance company for 600 Option D : Debit of 600 and 200 to insurance company and Profit and Loss… Read more

✅ C. Historical cost “ Depreciation portion thereof

Option A : Replacement cost “ Accumulated Depreciation Option B : Historical cost “ Salvage Value Option C : Historical cost “ Depreciation portion thereof Option D : Original cost adjusted for general price-level changes Correct Answer : Historical cost “ Depreciation portion thereof Read more

✅ B. A Liability

Option A : An Asset in the Balance Sheet Option B : A Liability Option C : By adjusting it in the P & L A/c Option D : Both Correct Answer : Both and above Read more

✅ A. Current Asset

Option A : Current Asset Option B : Current Liability Option C : Fixed Asset Option D : Income Read More Details about this Mcq Correct Answer : Current Asset Read more

✅ A. Debited to P&L A/c

Option A : Debited to P&L A/c Option B : Shown as liability in Balance Sheet Option C : Reduced from related asset in Balance Sheet Option D : Both and Correct Answer : Debited to P&L A/c Read more

✅ B. P&L A/C is debited with 1,200

Option A : P&L A/C is debited with 1,400 Option B : P&L A/C is debited with 1,200 Option C : 200 is shown as current asset Option D : Both Correct Answer : Both and above Read more

✅ A. Interest Rate

Option A : Interest Rate Option B : Required rate of return Option C : Nominal interest rate Option D : All of the above Correct Answer : Interest Rate Read more

✅ C. common size income statement

Option A : Balance sheet Option B : income statement Option C : common size income statement Option D : All of the Above Correct Answer : common size income statement Read more

✅ A. Current Assets

Option A : Current Assets Option B : Fixed Assets Option C : Current Assets& current liabilities Option D : All of the above Correct Answer : Current Assets Read more

✅ D. Conversion cost

Option A : Prime cost Option B : Explicit cost Option C : Job order cost Option D : Conversion cost Correct Answer : Conversion cost Read more

✅ B. Return inwards

Option A : Return outwords Option B : Return inwards Option C : cost of goods sold Option D : carriage on sales Correct Answer : Return inwards Read more

✅ D. Last in, First Out

Option A : Lots in , Few out Option B : Link input, Format Output Option C : Last input, First Output Option D : Last in, First Out Correct Answer : Last in, First Out Read more

✅ B. Balance Sheet

Option A : Income Statement Option B : Balance Sheet Option C : Cash Flow Statement Option D : Retained Earning Statement Correct Answer : Balance Sheet Read more