MCQOPTIONS
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MCQOPTIONS
This section includes 11 Mcqs, each offering curated multiple-choice questions to sharpen your MBA knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
A company is currently operating at 80% capacity level. The production under normal capacity level is 1,50,000 units. The variable cost per unit is ` 14 and the total fixed costs are ` 8,00,000. If the company wants to earn a profit of ` 4,00,000, then the price of the product per unit should be |
| A. | 37.50 |
| B. | 38.25 |
| C. | 24.00 |
| D. | 35.00 |
| Answer» D. 35.00 | |
| 2. |
A club paid subscription fees of `1,400. Out of which ` 200 is prepaid. In such case |
| A. | P&L A/C is debited with 1,400 |
| B. | P&L A/C is debited with 1,200 |
| C. | 200 is shown as current asset |
| D. | Both B. and C. above |
| Answer» E. | |
| 3. |
A check returned by bank marked “NSF” means that: |
| A. | Bank can’t verify your identity |
| B. | There are not sufficient funds in your account |
| C. | Check has been forged |
| D. | Check can’t be cashed being illegal |
| Answer» C. Check has been forged | |
| 4. |
A chart of accounts generally start with which of the following types of accounts? |
| A. | Assets accounts |
| B. | liability accounts |
| C. | Cash accounts |
| D. | Revenue accounts |
| Answer» B. liability accounts | |
| 5. |
A cash deposit made by business appears on the bank statement as _______ balance? |
| A. | Debit |
| B. | Credit |
| C. | Expenses |
| D. | Liability |
| Answer» C. Expenses | |
| 6. |
A cash book with cash, bank and discount column is commonly referred as________? |
| A. | Cash book |
| B. | Two columns cash book |
| C. | Three columns cash book |
| D. | Petty cash book |
| Answer» D. Petty cash book | |
| 7. |
A cash book that is used to record the small payments of cash is generally referred as_________? |
| A. | Simple cash book |
| B. | Two column cash book |
| C. | Three column cash book |
| D. | Petty cash book |
| Answer» E. | |
| 8. |
A brief explanation recorded below every entry in general journal is commonly known as__________? |
| A. | Narration |
| B. | Explanation |
| C. | Summary |
| D. | Other information |
| Answer» B. Explanation | |
| 9. |
A book wherein various accounts are opened is called____________? |
| A. | Subsidiary books |
| B. | Journal |
| C. | Ledger |
| D. | Trial Balance |
| Answer» D. Trial Balance | |
| 10. |
A Bill of Exchange is drawn on 1st April, 2018 payable after 3 months. The due date of the bill is? |
| A. | 30th June,2018 |
| B. | 1st July,2018 |
| C. | 4th July,2018 |
| D. | 4th August,2018 |
| Answer» D. 4th August,2018 | |
| 11. |
$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book. |
| A. | $5000 will be credited |
| B. | $5000 will be debited |
| C. | $10,000 will be credited |
| D. | $10,000 will be debited |
| Answer» B. $5000 will be debited | |