Accounting for Business Decisions | Chapter 1 | Part 1 | MBA MCQs | ABD
______________ is nothing but the right process of selecting an appropriate, logical, practical and achievable option from the available alternatives.
Organizing
Planning
Business Decision
Strategy
______________ is a person who carried on business exclusively by and for himself.
Partner
Sole-trader
Executive
Manager
The relationship between persons who agree to carry on business in a common with a view to private gain.
Partnership Firm
Sole-trading Firm
Joint Stock Company
Co-operative Society
A ______________ is a form of business organization in which the funds of large number of investors are managed by a few persons for the purpose of earning profits.
Partnership Firm
Sole-trading Firm
Joint Stock Company
Co-operative Society
______________ is the language of business
Marketing
Profit Earning Capacity
Accounting
Selling
The object/s of accounting ______________.
To calculate net profit or net loss of the business.
To know the financial condition of the firm.
To provide information to the management for important managerial decisions.
All of the above
Out of the following, which is not the branch of Accounting
Financial Accounting
Management Accounting
Human Resource Accounting
Cost Accounting
Accounting ______________ are the Rules of Action or the Methods and Procedures of Accounting commonly adopted while recording Business transactions.
Principles
Concepts
Conventions
Systems
According to ______________ concept, assets purchased are generally recorded in accounting books at the cost at which they are purchase
Business Entity Concept
Going Concern Concept
Money Measurement Concept
Cost Concept
According to ______________ concept, revenue is recognized only when the sale is performed.
Business Entity Concept
Going Concern Concept
Money Measurement Concept
Realization Concept
Managerial accounting information is generally prepared for …………………
Shareholders
Creditors
Managers
Regulatory agencies
Which of the following is not an internal user of management information?
Creditor
Department manager
Controller
Treasurer
Management accounting is applicable to-
Service entities
Manufacturing entities
Non profit entities
All of these
Creating Provision against fluctuation in the price of investment is an example of which accounting convention
Convention of conservatism
Convention of full disclosure
Convention of materiality
Convention of consistency
The work of factory employees that can be physically associated with converting raw material into finished goods is classified as-
Manufacturing overhead
Indirect materials
Indirect labour
Direct labour
Double entry system is used in which type of accounting
Great portal for practicing mcqs online. It would be better if the correct option shows green highlight after being marked, or atleast some tick mark. thank you !
Nice online web portal for practice exams
ReplyDeleteThank you.
DeleteThanks for the questions, tomorrow is my exam.this is actually helping. Cheers !
ReplyDeleteThank you.
DeleteWe hope our portal will help you through out your MBA Course.
Don't forget to share this with your friends.
Helpfull
ReplyDeleteThank you.
DeleteWe hope our portal will help you through out your MBA Course.
Don't forget to share this with your friends.
Great portal for practicing mcqs online.
ReplyDeleteIt would be better if the correct option shows green highlight after being marked, or atleast some tick mark. thank you !