vu mgt101 Final Term - Quiz No.18
vu mgt101 Financial Accounting Quiz
This quiz belongs to book/course code vu mgt101 Financial Accounting of vu organization. We have 99 quizzes available related to the book/course Financial Accounting. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Final Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
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Question 1: 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. 99,385 owner's equity
Rs. 61,385 owner's equity
Rs. 60,385 owner's equity
Rs. 99,885 owner's equity
Question 3: In Balance Sheet Depreciation is
deducted from the fixed asset.
added in the fixed asset.
Of long life
Not bought with the main purpose of resale.
Question 4: Which of the following is responsible to register the companies?
State Bank of Pakistan
Security and Exchange Commission of Pakistan
Supreme Court
Stock Exchange
Question 5: Mark up cover ratio = operating profit before financial charges?
Selling expenses
Administrative expenses
Financial charges
Direct expenses
Question 7: Budget is another name of __________ in Accounting.
Guest Strategy
Statement of Cash Flow
Financial Forecast
Expected life of Asset
Question 8: Stock of Trading concern consists of:
Work in process
Raw material
All of the given options
Merchandise inventory
Question 9: Drawing are the __________ of owner
expenses
Income
profit
none of above
Question 10: The favorable balance of Profit and Loss account should be:
Added in liabilities
Subtracted from current assets
Subtracted from liabilities
Added in capital
