MC110403604 : Mariam Khalid
Quiz Start Time: 05:42 PM
Time Left 89
sec(s)
Question # 1 of 10 ( Start time: 05:42:08 PM ) Total Marks: 1
Working capital Rs. 20,000, Current liabilities Rs. 30,000 and fixed assets Rs. 100,000; calculate current assets?
Select correct option:
Rs. 10,000
Rs. 50,000
Rs. 110,000
Rs. 120,000
MC110403604 : Mariam Khalid
Quiz Start Time: 05:42 PM
Time Left 88
sec(s)
Question # 2 of 10 ( Start time: 05:43:21 PM ) Total Marks: 1
Which of the following is the example of Current Assert?
Select correct option:
Land
Building
Stock
Capital
MC110403604 : Mariam Khalid
Quiz Start Time: 05:42 PM
Time Left 89
sec(s)
Question # 3 of 10 ( Start time: 05:44:43 PM ) 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
MC110403604 : Mariam Khalid
Quiz Start Time: 05:42 PM
Time Left 89
sec(s)
Question # 4 of 10 ( Start time: 05:45:25 PM ) Total Marks: 1
If cost of sales is Rs. 95,000, income from sales Rs. 200,000 and operating expenses Rs. 300,000. What will be net result?
Select correct option:
Rs. 1, 95,000 Losses
Rs. 1, 95,000 Profits
Rs 1, 05,000 Profits
Rs1, 05,000 Losses
MC110403604 : Mariam Khalid
Quiz Start Time: 05:42 PM
Time Left 89
sec(s)
Question # 5 of 10 ( Start time: 05:46:25 PM ) Total Marks: 1
Find out the missing value of an Accounting Equation with the help of given data: Cash Rs. 22,500 Debtors Rs. 500 Total Assets Rs. 80, 385 Accounts payable Rs. 1,000 Total liabilities Rs. 20,000
Select correct option:
Rs. 59,385 owner’s equity
Rs. 61,385 owner’s equity
Rs. 99,885 owner’s equity
Rs. 99,385 owner’s equity
MC110403604 : Mariam Khalid
Quiz Start Time: 05:42 PM
Time Left 89
sec(s)
Question # 6 of 10 ( Start time: 05:47:21 PM ) Total Marks: 1
In which of the following statement/s closing stock is/are shown?
Select correct option:
Profit and loss account
Balance sheet
Income statement
All of the given options
MC110403604 : Mariam Khalid
Quiz Start Time: 05:42 PM
Time Left 89
sec(s)
Question # 7 of 10 ( Start time: 05:48:24 PM ) Total Marks: 1
If cost of sales is Rs. 95,000, income from sales Rs. 200,000 and operating expenses Rs. 100,000. What will gross profit?
Select correct option:
Rs. 5,000
Rs. 95,000
Rs. 1, 00,000
Rs.1, 05,000
MC110403604 : Mariam Khalid
Quiz Start Time: 05:42 PM
Time Left 89
sec(s)
Question # 8 of 10 ( Start time: 05:49:14 PM ) Total Marks: 1
Which of the following is Not an Asset Account?
Select correct option:
Plant & Machinery
Loan to XYZ co.
Cash at Bank
Loan from ABC co.
MC110403604 : Mariam Khalid
Quiz Start Time: 05:42 PM
Time Left 89
sec(s)
Question # 9 of 10 ( Start time: 05:50:39 PM ) Total Marks: 1
__________ is the excess of Sales over Cost of goods sold in an accounting period:
Select correct option:
Gross Profit
Net Profit
Surplus
All of the above
MC110403604 : Mariam Khalid
Quiz Start Time: 05:42 PM
Time Left 89
sec(s)
Question # 10 of 10 ( Start time: 05:51:34 PM ) Total Marks: 1
Debit signifies:
Select correct option:
Increase in Asset account
Decrease in liability account
Decrease in capital account
All of the given options
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