Management Sciences MCQs – Page 549

✅ B. Purchase A/c

Option A : Purchase register Option B : Purchase A/c Option C : Cash purchase A/c Option D : Credit purchase A/c Correct Answer : Purchase A/c Read more

✅ A. Balance Sheet

Option A : Balance Sheet Option B : Profit and Loss A/c Option C : Trading A/c Option D : None of these Correct Answer : Balance Sheet Read more

✅ D. Trading and Profit and Loss A/c

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

✅ A. Postage stamps

Option A : Postage stamps Option B : B/R Option C : Cheque Deposited with Bank Option D : B/R endorsed Correct Answer : Postage stamps Read more

✅ C. Building A/c

Option A : Salary A/c Option B : Bank A/c Option C : Building A/c Option D : Goodwill A/c Correct Answer : Building A/c Read more

✅ A. Outstanding Salary A/c

Option A : Outstanding Salary A/c Option B : Rent A/c Option C : SBI A/c Option D : Bad debts A/c Correct Answer : Outstanding Salary A/c Read more

✅ B. Rent A/c

Option A : Outstanding Salary A/c Option B : Rent A/c Option C : SBI A/c Option D : Debtors A/c Correct Answer : Rent A/c Read more

✅ C. Petty cash column

Option A : Cash column Option B : Bank column Option C : Petty cash column Option D : Discount column Correct Answer : Petty cash column Read more

✅ C. Salary remained outstanding

Option A : Cash received from debtors Option B : Cash paid to creditors Option C : Salary remained outstanding Option D : Cash deposited with bank Correct Answer : Salary remained outstanding Read more

✅ C. Assets

Option A : Liability Option B : Gain Option C : Assets Option D : Loss Correct Answer : Assets Read more

✅ C. Cash column

Option A : Bank column Option B : Discount column Option C : Cash column Option D : None Correct Answer : Cash column Read more

✅ A. Assets

Option A : Assets Option B : Expenditure Option C : Liability Option D : None Correct Answer : Assets Read more

✅ C. Damage paid on account of breach of a contract to supply certain goods

Option A : 1000 paid for the execution of a new plant Option B : Loss of 10,000 incurred in increasing the sitting accommodation of a hotel Option C : Damage paid on account of breach of a contract to supply certain goods Option D : Repair to machinery purchased, second hand. Correct Answer : Damage paid on account of… Read more

✅ C. The events after Balance Sheet date but before its approval by the board

Option A : All the significant events after the Balance Sheet date Option B : The events after Balance Sheet date but before submitting it to the Registrar of Companies Option C : The events after Balance Sheet date but before its approval by the board Option D : All changes after Balance Sheet date before its approval Correct Answer… Read more

✅ A. Compensation paid to Directors on termination of their services

Option A : Compensation paid to Directors on termination of their services Option B : Expenditure incurred in connection with the renewal of a Trade Mark. Option C : Gratuities paid to Directors on termination of their services. Option D : Royalty paid in installments for the purchase of rights to manufacture and sell patient medicines. Correct Answer : Compensation… Read more

✅ B. Reduction in operating costs

Option A : Increase in working capacity of an asset Option B : Reduction in operating costs Option C : Replacing damaged parts of an asset Option D : Both and Correct Answer : Both and above Read more

✅ D. Administration and general expenses

Option A : Interest payable on loans or deferred credits taken for the acquisition or construction of fixed assets before they are ready for use Option B : Stand by equipment and servicing equipment Option C : Expenditure incurred on test runs and experimental production Option D : Administration and general expenses Correct Answer : Administration and general expenses Read more

✅ D. All the three

Option A : Errors of casting Option B : Errors of carry forward Option C : Errors of posting Option D : All the three Correct Answer : All the three Read more

✅ D. All the three

Option A : Errors of complete omission Option B : Errors of principle Option C : Errors of posting to wrong account Option D : All the three Correct Answer : All the three Read more

✅ B. 5,000 incurred on installation of new plant debited to travelling expenses A/c

Option A : 5,000 received from Sham credited to Ram A/c Option B : 5,000 incurred on installation of new plant debited to travelling expenses A/c Option C : 500 paid for wages debited to salary A/c Option D : 500 being purchase of raw material debited to purchase A/c ` 50 Correct Answer : 5,000 incurred on installation of… Read more