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mgt101 solved quiz:1

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yar there is error in ur doc.

Question # 1 of 10 ( Start time: 02:04:07 AM ) Total Marks: 1
If Current Assets Rs. 100,000, Current Liability Rs. 50,000 and Fixed Assets Rs. 2, 00,000. Calculate working capital.
Select correct option:
Rs. 50,000
Rs. 1, 00,000
Rs. 1, 50,000
Rs. 3, 00,000

Question # 2 of 10 ( Start time: 02:04:41 AM ) Total Marks: 1
What will be debited, if business purchased Vehicle on cash?
Select correct option:
Vehicle account
Cash account
Bank account

Question # 3 of 10 ( Start time: 02:04:57 AM ) Total Marks: 1
What should be credited, if salary is paid to Sohail?
Select correct option:
Sohail account
Salaries account
Cash account
Drawings account

Question # 4 of 10 ( Start time: 02:06:09 AM ) Total Marks: 1
Revenues, expenses and net profit are found on a:
Select correct option:
Statement of Cash Flows
Income Statement
Statement of Owner’s Equity
Balance Sheet

Question # 5 of 10 ( Start time: 02:06:27 AM ) Total Marks: 1
Office salaries, advertising and sales commissions are the examples of:
Select correct option:
Financial Expenses
Operating Expenses
Marketing Expenses
Direct Expenses

Question # 6 of 10 ( Start time: 02:06:46 AM ) Total Marks: 1
If salaries are Rs. 2500, purchases Rs. 18,000 and rent Rs. 400; what will be administrative expenses?
Select correct option:
Rs. 400
Rs. 2,500
Rs. 2,900
Rs.20, 900

Question # 7 of 10 ( Start time: 02:07:42 AM ) Total Marks: 1
When total liabilities are subtracted from total assets the remaining amount is known as:
Select correct option:
Equity or net assets
Net income or net loss
Total expenses
Total revenue

Question # 8 of 10 ( Start time: 02:08:00 AM ) Total Marks: 1
Which of the following is NOT a characteristic of Cash Book?
Select correct option:
It has two identical sides—left hand side, the debit side and right hand side, the credit side
It verifies the arithmetic accuracy of posting of entries from the Journal to the Ledger
The difference between the total of two sides of cash book shows cash in hand
It always shows debit balance. It can never show credit balance

Question # 9 of 10 ( Start time: 02:09:27 AM ) Total Marks: 1
The proper classification of Suppliers account is:
Select correct option:
Assets
Expenses
Revenues
Liabilities

Question # 10 of 10 ( Start time: 02:10:58 AM ) Total Marks: 1
If Gross profit Rs.16,500 and Cost of goods sold Rs.183,500, what will be the amount of Net Sales?
Select correct option:
Rs. 183, 500
Rs. 167, 000
Rs. 200, 000
Rs. 230, 000

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