VU Online Quiz Courses Wise Preparation

MGT-101 Final Term Exams Preparation Virtual University

Sr. #	Questions	Answers Choice
1	If you start with cash book favourable balance in Bank Reconciliation Statement which item will be added?	cheaque deposited but not credit by the bank Cheques omitted to be deposited into the bank any amount directly collected by bank on behalf of customer but not recorded in cash book Debit side cash book was overcast.
2	____ is the detail of transaction in one account provided by the bank	bank statement income statement bank reconciliation statement
3	Accountancy cover which of the following series	bookkeeping accounting auditing all of the above
4	Depreciation arises because	fall in market value of an asset fall in the value of money physical wear and tear all of the above
5	Firm charges each year	to ensure there is enough money in the firm to replace the asset to spread the cost of the asset over its working file because the law states they must be reduced
6	Net profit + expenses =______	Liabilities assets capital income
7	An estimate of the income and expenses needed to carry out business plans for a fiscal year is known as :	Budgeting costing Management Auditing
8	Which one of the following is equal to the carrying cost of an asset?	original cost minus accumulated depreciation original cost plus accumulated depreciation original cost minus residual value
9	Firms chargers depreciation each year :	To ensure there is enough money in the firm to replace the asset To spread the cost of the asset over its working life Because the law state must be reduced
10	The basic purpose of depreciation is to achieve the :	matching principle Dual aspect principle separate entity concept

Download This Set