MGT101 QUIZ NO 1 SOLVED 100% VERIFIED BY ADMIN (MID TERM SYLLABUS)
Q1: All vouchers are recorded in __________.
A) General Ledger
B) Balance Sheet
C) Trial Balance
D) General Journal (page19) (100% Sure)
Q2: A wrong entry on the debit side of cash book would lead to __________.
A) Cash Book Showing More Balance (confirmed) (100% Sure)
B) Cash Book Showing Less Balance
C) No Change in the Cash Book
D) None of the above
Q3: __________ is the first book to record a transaction.
A) General Journal (page19) (100% Sure)
B) General Ledger
C) Tial Blance
D) Balance Sheet
Q4: Normal Balance of capital account is Similar to __________.
A) Liability Account
B) Asset Account
C) Expense Account
D) Revenue Account (Confirmed) (100% Sure)
Q5: __________ are recorded in cash book.
A) Only Payment
B) Only Receipts
C) Receipts & Payment (page22) (100% Sure)
D) None of the above
Q6: As per flow of transaction which come next to Profit&loss account?
A) Balance Sheet (page23) (100% Sure)
B) Financial statement
C) vouchers
D) Financial Forecast
Q7: As per flow of transaction which come next to trial balance?
A) Profit & Loss Account (page 23) (100% Sure)
B) Balance Sheet
C) Trial Balance
D) Voucher
Q8: Non-Commercial organisations are also known as:
A) Self Organization
B) Stock Company
C) Profit Organization
D) Non Profit Organization (100% Sure)
Q9: Inventory account will fall under classification of:
A) Expense Account
B) Liability Account
C) Asset Account (confirm) (100% Sure)
D) None of the above
Q10: Account generated from sales in Buisness called:
A) Income (confirm) (100% Sure)
B) Expense
C) Balance
D) Asset
No comments:
Post a Comment