Question # 1

Which of the following is NOT an example of current Asset?

Choose an answer

Bank draft

Accounts Receivable

Notes Receivable

Prepaid Expenses

Under the reducing balance method of depreciation :

Choose an answer

Amount of depreciation increase every year

Amount of depreciation remains constant for every year

Amount of depreciationdecrease every year

Word credit is derived from

Choose an answer

Latin

English

French

Chinese

Cash book is a part of

Choose an answer

Voucher

general ledger

general journal

Trail balance

Depreciation arises because

Choose an answer

fall in market value of an asset

fall in the value of money

physical wear and tear

all of the above

Double entry accounting system include:

Choose an answer

Accrual accounting only

Cash accounting only

Both A and B

^{None of the given}

The total of all cost incurred to convert raw material into finished goods is known as :

Choose an answer

Prime cost

Conversion cost

Sunk cost

The basic purpose of depreciation is to achieve the

Choose an answer

Matching principle

Dual aspect principle

Separate entity concept

Money measurement concept

Accrued expenses are the example of

Choose an answer

Current liability

Long term liability

Capital expenses

According to double entry system of accounting,an accounting that obtain benefit is

Choose an answer

Debit

Credit

Income

Which of the following account will be credited ,if business bought goods on credit from Mr.Ali?

Choose an answer

Purchase account

Mr.Ali account

Cash account

Sale account

More Classes

Other Links

MGT-101 Final Term Exams Preparation Virtual University MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer