All MCQs Tests - VU MGT101 - Financial Accounting

Question 1: Which type of inventory system is updated inventory system

Question 2: Consider the following:

Question 3: For every debit there must be a credit with an equal amount. This is also called as:

Question 4: On which of the following system control accounts are based?

Question 5: An asset that is not physical in nature is called __________

Question 6: Which one of the following is CORRECT about closing stock?

Question 7: Which of the following items of balance sheet are useful in evaluating a company's liquidity?

Question 8: Commercial Accounting is done through a system that is known as __________.

Question 9: If the working capital and the current assets of company XYZ are Rs. 5,000 and Rs.15,000 respectively, calculate the current liabilities.

Question 10: In a partnership of Mr. A and Mr. B, the share of profit of Mr. A is Rs.75,375 and the share of profit of Mr. B is Rs. 25,125. What will be the ratio of their share?