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MGT-101 Final Term Exams Preparation Virtual University MCQs With Answers
Question # 1
Depreciation arises because of :
Choose an answer
Fall in the market value of an asset
Fall in the value of money
Physical wear and tour
All of the above
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Question # 2
Which of the following account balance will be shown on debit side of trial balance?
Choose an answer
Cash account
Furniture account
Motor account
all of the above
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Question # 3
In a balance sheet fixed asset is shown at
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cost price
market value
fair value
written down value
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Question # 4
Which of the following account will be credited if business purchased a vehicle on cash?
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vehicle account
cash account
bank account
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Question # 5
Word credit is derived from
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latin
english
french
chinese
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Question # 6
Accrued expenses are the example of
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Current liability
Long term liability
Capital expenses
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Question # 7
In cost of goods sold statement the total factory cost is equal to
Choose an answer
l cost of material + Labor cost
cost of material consumed + conversion cost
cost of materia
l consumed + total factory cost
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Question # 8
In which of the following condition a company will have positive working capital?
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if current assets> current liabilities
if current assets < current liabilities
if current assets = current liabilities
if current assets <= current liabilities
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Question # 9
The basic purpose of depreciation is to achieve the
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Matching principle
Dual aspect principle
Separate entity concept
Money measurement concept
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Question # 10
Net profit + expenses =______
Choose an answer
Liabilities
assets
capital
income
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Question # 11
Which of the following is NOT include in the specimen of a payment voucher?
Choose an answer
Name of organization
cash payment amount
date of transaction
Bank receipt
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