vu mgt101 Mid Term - Quiz No.8
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 8 multiple choice questions (MCQs) to prepare and belongs to topic Mid 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: Bank book is part of:
Voucher
General Journal
General Ledger
Trial Balance
Question 2: When a Liability is reduced or decreased, it is recorded on the:
Right or debit side of the account
Left or debit side of the account
Left or credit side of the account
Right or credit side of the account
Question 3: Which one of the following is NOT prepared by Non profit organizations?
Profit & Loss account
Income & Expenditure account
Receipts & Payments account
Balance Sheet
Question 4: Which of the following account will be credited, If Mr. A started business with cash Rs. 2, 00,000?
Capital account
Cash account
Mr. A's account
Business account
Question 5: The cost of moving plant and machinery to a new site will be treated as:
Revenue expense
Capital expense
Administrative expense
Operating expense
Question 6: Which of the following particulars are included in the specimen of a bank receipt voucher?
1) Name of the organization
2) Bank code
3) Date of transaction
1) Name of the organization
2) Bank code
3) Date of transaction
(1) & (2) only
(1) & (3) only
(2) & (3) only
(1), (2) & (3)
Question 7: Which of the following account will be credited, if business sold goods for Rs.10,000 on credit?
Cash account
Sales account
Accounts receivable account
Purchases account
Question 8: Depreciation arises because of:
Fall in the market value of an asset
Fall in the value of money
Physical wear and tear
All of the given options
