MGT101 Online Quiz No 02 Solution & Discussion Due Date:06-12-2016
This is to inform that Quiz # 02 has been opened on December 1, 2016 and last date to attempt quiz will be December 6, 2016
Note related to load shedding: Please be proactive
As you know that Pre Mid-Term semester activities have started and load shedding problem is also prevailing in our country. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.
Which of the following are recorded in Cash Book?
Receipts and payments
A wrong entry on the debit side of the Cash Book would lead to:
Which of the following account summarizes the profitability of business for a specific accounting period?
Profit & Loss account
Which of the following is NOT considered a part of financial statements?
If Salaries Rs. 12, 000, Rent Rs. 5,000, Gross profit Rs. 58,000 and Discount received Rs. 10, 000. What will be the amount of Net Profit?
Which of the following is fiscal Year of Government of Pakistan?
1st july to 30th june
In case of Income and Expenditure account, Excess of income over expenses in a specified accounting period is called:
surplus = income > expenses
What will be debited, if business purchased Vehicle on cash?
Cost of goods manufactured + opening finished goods – ending finished goods =?
What will be debited, if business bought goods on credit from Mr. Ali
___________= Gross profit < Operating Expenses