Which of the following entries is correct in respect of reserve for discounts on accounts payable??
A. Debit P
Category: Management Sciences Mcqs
A firm reports total liabilities of Rs. 300,000 and owner’s equity of Rs. 500,000. What would be the total worth of the firm’s assets??
A. Rs. 300,000
B. Rs. 500,000
C. Rs. 800,000
D. Rs. 1100,000
Which of following best describes the increase in equity expands___________??
A. Business operations
B. cash outflows
C. Inflows of cash
D. Appropriation expenses
Outstanding salaries is shown as___________??
A. An Asset in the Balance Sheet
B. A Liability
C. By adjusting it in the P
In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.?
A. Adjusted
B. Unadjusted
C. Understated
D. Overstated
Which of the following errors affects the agreement of a Trial Balance??
A. Mistake in balancing an account
B. Omitting to record a transaction entirely in the subsidiary books
C. Recording of a wrong entry in the subsidiary books
D. Posting an entry on the correct side but in the wrong account
Bank reconciliation is a statement prepared to reconcile__________??
A. Trial balance
B. Cash book
C. Bank A/c
D. Cash as per cash book with bank balance as per bank pass book
HR Department maintains _________records.?
A. Employee
B. Sales
C. Production
D. Inventory
A job specification is one of the areas of ___________??
A. job analysis
B. job design
C. job description
D. job summary
Window dressing implies_______________??
A. Curtailment of expenses
B. Checking of Wastages
C. Under valuation of assets
D. Over Valuation of assets
