Course Activities at VUSR

↑ Grab this Headline Animator

http://www.etcfn.com/feed/

MGT101 Financial Accounting MCQs

MGT101-Financial Accounting study material for students of virtual university of Pakistan. Download Past(old) Papers solved/unsolved, past assignments, quiz, mcqs, lecture notes, video lectures, handouts, books of MGT101-Financial Accounting

Question :
QuestionAdded By
Which of the following is NOT correct?
  • Decrease in Assets will be credit
  • Decrease in Liabilities will be debit
  • Decrease in Expenses will be credit
  • Decrease in Revenue will be credit
Take MCQ
rosemalik
Find out the missing value of an Accounting Equation with the help of given data: Cash Rs. 22,500 Debtors Rs. 500 Total Assets Rs. 80, 385 Accounts payable Rs. 1,000 Total liabilities Rs. 20,000
  • Rs. 60,385 owner’s equity
  • Rs. 61,385 owner’s equity
  • Rs. 99,885 owner’s equity
  • Rs. 99,385 owner’s equity
Take MCQ
rosemalik
Which one of the following is NOT a feature of sole proprietorship business.
  • Easy Formation
  • Easy Dissolution
  • Unlimited Liability
  • Separate Legal Entity
Take MCQ
rosemalik
Which of the following is NOT a characteristic of Joint Stock Company?
  • Separate Legal Entity
  • Limited Liability of shareholders
  • Easy formation
  • Common Seal
Take MCQ
rosemalik
What is the next step to Journalizing in Accounting cycle?
  • Recording
  • Posting
  • Balancing
  • Analyzing
Take MCQ
rosemalik
Find out the missing value of an Accounting Equation with the help of given data: Owner’s equity Rs. 22,500 Total LiabilitiesRs. 80, 385 Cash Rs. 1,000 Bank Rs. 2,000 Debtors Rs. 500
  • Rs. 102,885 other assets
  • Rs. 102,885 current liabilities
  • Rs. 99,885 current liabilities
  • Rs. 99,385 other assets
Take MCQ
rosemalik
A debit balance in the Bank Statement indicates:
  • Cash at bank
  • Bank overdraft
  • Overpayment to creditors
  • Cash in hand
Take MCQ
rosemalik
Cost of goods manufactured + opening finished goods – ending finished goods =?
  • Total factory cost
  • Cost of goods sold
  • Prime cost
  • Conversion cost
Take MCQ
rosemalik
Increase in an expense is recorded on the:
  • Left or credit side of the account
  • Right or debit side of the account
  • Left or debit side of the account
  • Right or credit side of the account
Take MCQ
rosemalik
Expense incurred for operating activities of the business in providing goods and services is known as:
  • Revenue expense
  • Capital expense
  • Deferred expense
  • Preliminary expense
Take MCQ
rosemalik

Get Latest Updates in your Email

Delivered by FeedBurner