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# Financial Accounting_MGT101 Fall semester 2012 Quiz # 2 Opening Date, 3rd December 2012 Closing Date, 4th December 2012

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MGT 101.

my quiz

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plz all studnt shr own quiz bcz that r helping in paprz

accounting quiz no.2

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quiz

ahsan khan thankas & keep it up

good bro

maher thanks

The main purpose of ___________ is to ascertain true result of the business operation during particular period of time.

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The simple equation which is used to calculate the profit is:

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The simple equation which is used to calculate the profit is:

When asset is sold, any profit or loss is computed by comparing the _______________with the amount received from sale.

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In which of the following all vouchers are first recorded___________.

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Following information is extracted from Mr. A’s balance sheet: Cash Rs.100 Accounts Receivable 500 Accounts Payable 2 00 Bank Loans 1,000 Based on the information provided, what are Mr. A’s assets?

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In an account if credit side > debit side, the balance is known as:

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What will be debited, if business bought goods on credit from Mr. Ali?

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What should be credited, if rent paid in cash?

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Which of the following is the journal entry of charging depreciation?

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What will be debited, If Mr. “A” started business with Rs. 2, 00,000.

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Cost of goods manufactured + opening finished goods – ending finished goods =?

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Fixed assets are also called:

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Which of the following particular/s is/are included in payment voucher?

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The journal entry to record purchase of furniture on credit would include a:

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A sum of Rs. 6,000 paid as wages for erect a machine should be debited to:

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As asset has a cost of Rs. 2000 and rate of depreciation 10% p.a. What will be the book value of asset under diminishing balance method after 3 years?

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cost of goods sold statement the ‘cost of goods manufactured’ is equal to:

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Which of the following is NOT a characteristic of Fixed Asset?

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An amount of Rs. 8000 paid as wages for installation of a Machine should be debited to:

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