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.Management Sciences
Category: Accounting Mcqs
Cash discount is allowed on _______ repayment of debt.
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A. Lump sum
B. Prompt
C. Actual
D. None of them
In support of business transaction, any written evidence is called ___________?
A. Discount
B. Voucher
C. Allowance
D. Price
Which of following best describes the increase in equity expands___________?
A. Business operations
B. cash outflows
C. Inflows of cash
D. Appropriation expenses
Net income equal to Revenues minus____________?
A. Gains
B. Depreciation
C. Expenses
D. Capital expenditures
During the accounting period, sales revenue is Rs. 25,000 and accounts receivable increases by Rs. 8,000. What will be the amount of cash received from customers for the period?
A. Rs. 33,000
B. Rs. 25,000
C. Rs. 17,000
D. Rs. 8,000
Which of the following relationships is/are false?
A. Net Profit = Gross Profit – Administration and Other expenses
B. Net Profit = Gross Profit + Administration expenses and Other expenses
C. Opening Stock + Purchases – Closing Stock = Cost of Sales
D. Both B. and C. above
(more…)
Income earned but not received is called ____________?
A. Fictitious assets
B. Quick asset
C. Real asset
D. Outstanding asset
Debit side of Bank Pass book corresponds to___________?
A. Credit side of Cash Book
B. Debit side of Cash Book
C. Debit side of Trial Balance
D. Credit side of Balance Sheet
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