MGt101 Quiz No. 02 Solution and Discussion Fall 2016

MGt101 Quizz No. 02 Fall 2016 

Here are the some helping material for MGT101 Online Quiz No 02 Solution and Discussion Due Date:06-12-2016. Dear Virtual University Students. As You may know Quiz no. 02 was opened on December 1, 2016 and last date to attempt quiz is be December 6, 2016.

Also Read: MGT101 short notes for Mid term papers

Download MGt101 Quiz No. 02 Solution

• MGT101 Quiz_No_2_Fall 2016.pdf, 229 KB
• MGT101 Quiz No 01 Solution and Discussion Fall 2016

MGt101 Quizz No. 02 Solved Questions:

Here are few questions that came in today quiz with answers.

Which of the following are recorded in Cash Book?

• Receipts and payments

A wrong entry on the debit side of the Cash Book would lead to:

• Cash Book showing more Balance

Which of the following account summarizes the profitability of business for a specific accounting period?

• Profit & Loss account

Which of the following is NOT considered a part of financial statements?

• General Journal

If Salaries Rs. 12, 000, Rent Rs. 5,000, Gross profit Rs. 58,000 and Discount received Rs. 10, 000. What will be the amount of Net Profit?

• 51000

Which of the following is fiscal Year of Government of Pakistan?

• 1st july to 30th june

In case of Income and Expenditure account, Excess of income over expenses in a specified accounting period is called:

• surplus

surplus = income > expenses

What will be debited, if business purchased Vehicle on cash?

• vehicle a/c

Cost of goods manufactured + opening finished goods – ending finished goods =?

• cost of goods sold

What will be debited, if business bought goods on credit from Mr. Ali

• purchase a/c

Also Read: MGT101 Solved Material Mega Folder

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You Can Also Download Solved Mid Term Papers, Short Notes, Assignment Solutions, Lecture Wise Questions Answers Files, Solved MCQs, Solved Quiz , Solved Mid Term Subjective Papers , Solved Mid Term Objective Papers From This Discussion For Preparation Mid Term Papers of Fall 2015-16.