Which of the following Organization converts raw material into finished goods? 2500, purchases Rs. The primary purpose of preparing a cash flow statement for an entity is to provide information about: The profitability of its business operations for a period of time www.vuzs.info, Its financial position at the end of an accounting period, Its cash receipts and cash payments during an accounting period (Not Sure). 2. Which one of the following is NOT true about Capital Expenditure? A. Expenditure incurred in acquiring the patent right for the business is an example of: Revenue Expenditure Capital Expenditure Deferred Revenue Expenditure Administrative Expenditure Which of the following would NOT be considered as a component of 'cost' of stock? All the most powerful features are already inside to afford ground for your efforts` monetization. Opening written down value of machine 3,75,000 Cost of machine 50,000 Depreciation during the year 11,500 Closing written down value (WDV) of the Machines ? Which of the following is NOT a revenue expenditure? We’ve integrated such features as Analytics, Groups, along with Blogs, Photos, Videos, Forums, and many more. Owner’s Equity … Salaries of selling staff Transportation inward costs Import duties Purchase price Our team is here to back you up even with the most challenging initiatives. paper 1/13/2014 Subjectives are... 1. Monetize your blog, monetize your website, monetize your social media! 18,000 and rent Rs. Which of the following organizations do NOT prepare Income & Expenditure account? _ Rs. Remember Multiple choice questions are having good weightage in the total marks of … Spreading the practice of bhakti yoga and spreading the idea of peace? I agree to the use of cookies on this website and allow NING to collect my user data. These are the running expenses of the business They improve the financial position of the business They reduce the profit of the concern They do not appear in the balance sheet Financial Accounting 11 Lecture – 21 Difference Between Capital and Revenue Expenditure Capital Expenditure Revenue Expenditure The effect / utility of these lasts for a long time. If you want any extras - we are open to your suggestions! MGT101 - Financial Accounting - Q.No.14. Home » » mgt101 current quiz lec 14 to 22 mgt101 current quiz lec 14 to 22. abdujabbar. I have no doubt that starting my community was the right thing to do. Customize your network with HTML and CSS. The utility is drawn immediately. Opening stock of raw material 100,000 Closing stock of raw material 85,000 Want to get a mind-blowing design for your social community? MGT101 - Financial Accounting - Q.No.9 of 20 ( Start time: 12:52:03 AM ) What will be debited, if business purchased Furniture on cash? This expenditure might be written off in the same financial year or over a period of a few years. Explain.. (5) 2. Revenue expenditure also includes the expenditure incurred for the purchase of raw material and stores required for manufacturing saleable goods and the expenditure incurred to maintain the- fixed assets in proper working conditions i.e. Creates future benefits. Capital Receipts are the receipt which we get for issuance of shares/bonds etc. What would conversion costs if costs of raw materials, direct labor costs, and manufacturing overhead costs Rs.80,000, Rs.50,000, and Rs.60,000, respectively? a) Purchase of new car for business manager. Which of the following is/are NOT the example of intangible assets ... A. MGT101- Financial Accounting Question No: 1 ( Marks: 1 ) - Please choose one Depreciation arises because of: Fall in the market value of an asset Fall in the value of money Physical wear and tear All of the given options Question No: 2 ( Marks: 1 ) - Please choose one Consider the following: Revenue Expenditure is that part of government expenditure that does not result in the creation of assets. Carriage paid on goods purchased. A business event which can be measured in terms of money and must be recorded in books of accounts is called: Condition. There are close to 6000 Credit Unions in the nation and they are struggling to manage their data, get insights and use this information to drive member engagement. It’s an official fan club of 50 cent turned into the top entertainment community, where members can get exclusive content, to buy one-of-a-kind autographed things, and even get a chance to work with 50 cent. Expenditure incurred in acquiring the patent right for the business is an example of: Revenue expenditure (Right Answer) Capital expenditure Deferred revenue expenditure Administrative expenditure Question No. Annuity method . Mcq Added by: admin Accounting Mcqs View GDPR Agreement. Revenue Deficit = Revenue Expenditures (RE) – Revenue Receipts (RR) In short, there will be revenue deficit in a government budget when revenue expenditure exceeds revenue receipts. Home MGT101- Financial Accounting Final Term EXAMINATION Fall 2020 MGT101- Financial Accounting . 11 per unit I accept NING Privacy Policy and give consent to process my personal data for the purpose of providing me with the best services. 400; what will be administrative expenses? 2. Which one of the following is NOT true about revenue expenditure? ... Revenue Expenditure is the cost of resources consumed or used up in the process of generating revenue,generally referred to as expenses. Pull in content from other social media and RSS feeds into your Activity Feed, to enrich multichannel communication. In which of the following statement opening stock is shown? Petrol consumed in motor vehicles. 1. Any expense incurred on carriage/transportation of raw material purchased items. Question No: 41 ( Marks: 10 ) State with reasons whether the following items of expenditure are capital or revenue in nature. Its effect is short term, i-e. Which of the following is an example of revenue expenditures? The origin of ISKCON, known as Hari Krishna movement, lies in Hinduism. Capital expenditure is recorded as a Non-Current Asset; revenue expenditure is recorded as an expense or current asset 6 Identify if the following is capital or revenue expenditure and state why. Here you can connect with partners and donors for charitable purposes, or conduct fundraising. Which of the following financial statement DO NOT show the financial health of a business at a specific date? B) Financial audits are always internal to an organization. It took 3 years to grow my community - all in a good time. Usually spent to acquire an asset Incurred to maintain an asset in a usable condition These are in most of the cases non-recurring. NING is here to make sure you have all the means to deliver your message and the shortcuts to do it fast. They improve the financial position of the business. 4. C) Audits are used to monitor accounting and financial systems within an organization. ... Revenue Expenditures. Reduce the profit of the concern . It is not exhausted within the current accounting period. Which of the following is (are) item (s) of cost of goods sold statement? Adding fuel to a delivery van . You are required to prepare the profit and loss account for the year and the Balance Sheet as at June 30, 2002. Bad debts . Prepaid rent given in the Trial Balance will be treated as a (an): A business event which can be measured in terms of money and must be recorded in books of accounts is called: Which one of the following is NOT a feature of sole proprietorship business. Its benefit is received for a number of years in future. The payments for share in a company whose shares are treated on a stock exchange, A decrease in trade debtors over the course of an accounting period, Money received as a result of issuing new shares, Money received as result of selling fixed assets (Not sure), MGT101 Solved Quiz 4 - Financial Accounting - vuzs, Its cash receipts and cash payments during an accounting period, Money received as result of selling fixed assets. Deferred expense. Answer: Option B MGT101 quiz 2 2016 Solved Mega File. D. Preliminary expense . If salaries are Rs. First purchase 35 units @ Rs. Capital expenditures are major investments of capital to expand a company's business. For almost a year, I have been doing charity work, successfully implementing various social projects. Create Your Account and Start Your Free Trial now! NING offers the possibility to create a community with a customized look and feel. 1. 11:46:00 PM No comments Which one of the following is NOT true about Capital Expenditure? Which of the following statements is TRUE? The benefit is received within one accounting period. D. The purchase of a pencil sharpener for $10 used in an office. With NING, traffic monetization is no longer a fantasy. _ Creates future benefits _ Incurred to acquire fixed assets _ Incurred to increase the economic life of existing fixed assets _ Reduce the profit of the concern. Revenue expense Capital expense Administrative expense Operating expense Question No: 9 ( Marks: 1 ) - Please choose one Which one of the following is NOT true about Capital Expenditure? 1. 10 per unit. Here you can give all fifty. Click here for details or close this window. Qno.8 Which one of the following is NOT true about Capital Expenditure? Expenditures incurred anually on renewal of patent are known as: Revenue Expenditures Capital Expenditures Financial Expenditures Operating Expenditures Question No: 6 ( Marks: 1 ) - Please choose one Particulars Rs. of donations go to religious organizations. Creates future benefits Incurred to acquire fixed assets Incurred to increase the economic life of existing fixed assets 5-Marks Question: A list of expenses was given (mixed expenses admin and selling), we had to calculate selling expenses from that list. See why they trust us - and follow their lead in bringing your creative ideas to reality! From tricks of the trade, to tools of the craft - they’re curating it all, and allow you to access and draw inspiration from creatives worldwide. Delivery costs on newly purchased equipment. Be sharp - invite members, create different groups, and hold various events around your interests. Which of the following is NOT a revenue expenditure? Read more: MGT101 - Financial Accounting - I - Lecture Handout 40 Transaction Information. Buying of a delivery van . 4. Being a wedding planner, I have the opportunity to surprise and bring positive emotions. B. * minimum 6 characters, including letters and numbers. Which of the following is (are) example(s) of non distributable profit? You only need to contact Mr. Benjamin with the amount you wish to borrow and the payment period that suits you and you will have your loan in less than 48 hours. Qno.9 Consider the following: Beginning inventory 10 units @ Rs. 3. 11 per unit MGT101 - Financial Accounting - Q.No.15 Which one of the following is NOT a feature of sole proprietorship business. How many major heads of accounting are involved in Balance sheet. Revenue expense. Be vivid - create your own visual design, generate catchy content, and build trust. Fiscal deficit is defined as the excess for all expenditure over total receipts net of borrowings. Profit & Loss account. Transportation paid on purchase of machinery. We will embody your wildest ideas! Which one of the following is NOT prepared by Non profit organizations? Contact us via email, live chat, or call us - 24/7 customer service will help you with any issue. I draw my inspiration from my hobby - and now I'm a professional designer with my own website. Prepare a … Qno.9 Consider the following: Beginning inventory 10 units @ Rs. B. If you had financial problems, then it is time for you to smile. I don’t know a thing when it comes to creating blogs and such. Distinction between Capital Expenditure & Revenue Expenditure Capital Expenditure Revenue Expenditure Its effect is long term, i-e. You may click the link to find Multiple choice questions (Q.No-1 to 10) on Capital and Revenue Receipts and Payments.. b) Paid for the certificate of entitlement of the new car. State whether the following capital and revenue expenditure ….3 points given thy ..yad nai hen. Capital Expenditures. In firms cash flow statements, which of the following would appear as a cash outflow? Revenue receipt Question No: 11 ( Marks: 1 ) - Please choose one Which one of the following is NOT true about revenue expenditure? NING uses cookies to ensure the best user experience on the website and guarantee its flawless performance. Communities of any kind find their place on NING. Assets = capital + liabilities . C. Repair to an elevator of a five year old building. It could never be easier to give your two cents on the industry of music. Reduce the profit of the concern . Paying for a five-year lease on shop premises in city centre . B. First purchase 35 units @ Rs. Select correct option: Petrol consumed in motor vehicles (Right Answer) Cost of saleable goods. NING gave me this chance. Now, I have the opportunity to share educational content, post informative video, and hold interesting events - this is something I always wanted to devote my life to. Wages paid on the purchase of goods. Revenue expenses are short-term expenses to meet the ongoing operational costs of running a business. Incurred to acquire fixed assets. Sign up with Facebook, Twitter, Linkedin, Google and more. Re-paying a loan which was borrowed three years ago. Educating people has always been my everything. MGT101 Current paper 2014 Shared by Student. Which of the following statements about financial audits is true? Accumulated profit and loss (credit balance). D. Operating Expenditures. Deferred revenue expenditure is an expenditure which is incurred in the present accounting period but its benefits are incurred in the following or the future accounting periods. With NING's help, you will be able to effectively promote any network, be it a political, music, religious, arts, or any other type of online communities. Just make a community on NING social platform, and put your ideas into practice! A. Cost of saleable goods . Creates future benefits. Annual fire insurance premiums on plant and equipment. Taking care of social, economic and environmental sustainability, they became the real ambassadors of peace in the world. 80 units were sold, Use the FIFO method of inventory costing and determine the cost of goods sold. “This is 50” is not just the famous song of the rap god. Which one of the following is NOT prepared by Non profit organizations? Capital Expenditure: Revenue Expenditure: Its effect is long term, i-e. It’s an open society for people who believe in love and fraternity. It's all in your hands now thanks to NING’s new E-commerce platform. select correct option . Bad debts. The Amount changed to deprecation goes on declining in: Depreciation fixed method . This platform is a place where I can band people together. Legal expenses incurred in defending a suit for breach of contract for supply of goods does not satisfy the prerequisites of a deferred revenue expenditure. Following trial balance has been extracted from the books of Alpha Ltd. as on June 30, 2002. C. They reduce the profit of the concern. A) Audits can only be conducted by experts who are not employees of the organization. Incurred to acquire fixed assets. Be loud - share your ideas, target the right people, and raise awareness. People like me are seeking the opportunity to build their online communities for nonprofit purposes. Don’t know how to code? Thinking about making money with your community? These are the running expenses of the business They improve the financial position of the business They reduce the profit of the concern They do not appear in the balance sheet Don’t know how to set up something? VU MGT101 Financial Accounting - Mid Term (2009) Comments are appreciated. Our special offer for nonprofits presents a large opportunity to raise awareness, attract more members, build trust, and bring social value to the masses. With NING, I set out to create an awesome community - it was my chance to succeed in my business and I did it. C. Financial Expenditures . 11 of 20 Total assets - Total liabilities =? D. They do not appear in the balance sheet. Premium given on lease. A. NING helped to embody my ideas into a real business. B. Incurred to increase the economic life of existing fixed assets. Which of the following voucher is used to record transactions that do not affect bank & cash? All Capital Expenses are grouped in balance sheet & all Revenue expenses are grouped in Profit & Loss account. 1. It is not exhausted within the current accounting period. Expenditure is said to be capital expenditure … Which one of the following is NOT true about Capital Expenditure? Which of the following should not be treated as a revenue expenditure? You don’t have to be a developer - our drag-and-drop network builder empowers you to easily create a professional website in a blink of an eye. The goal of CULytics is to bring peers from the Credit Union industry together to help them drive real outcomes by excelling in data management and getting insights to compete better in the market. Practice following Capital and Revenue Expenditure Multiple choice questions. Create your personal social network and get ready to make money with its help. Under the individual terms, nonprofit organizations will be able to focus on their mission - with all means to contribute to a better future. 3. Octroi duty … Revenue. Which one of the following is NOT true about revenue expenditure? repair of machinery, building, furniture etc. On my NING website, I only have to come up with what I have to say to my readers, as all the organization was already done for me. Record. On NING, I can communicate with anyone I want. Hat Academy brings the classic millinery tradition into the digital era via their video tutorials on hat making, and a passionate community captivated by tastefully bold toppers. Or cannot find the answer in online Help Center? A form that allows individuals to compare their personal bank account records to the bank's records of the individual's account balance in order to uncover any possible discrepancies is known as: Cash and other resources that are expected to turn to cash or to be used up within one year of the balance sheet date are called: An accounting system is used by a business to: Particulars Rs. A. These are the running expenses of the business. Expenditure incurred in acquiring the patent right for the business is an example of: What will be debited, if business bought goods on credit from Mr. Ali? 10 per unit. 2. By continuing to use this website, you agree to the use of cookies. Our e-commerce module is a goldmine that allows you to drive traffic, convert visitors, sell products, post ads to monetize your network. Incurred to increase the economic life of existing fixed assets. Cash outflow expenses are short-term expenses to meet the ongoing operational costs running! For $ 10 used in an office NING social platform, and build.! Long Term, i-e reasons whether the following is ( are ) (... Expenditures are major investments of Capital to expand a company 's business to record transactions that do NOT prepare &... - Total liabilities = planner, I can communicate with anyone I want Policy give... Pencil sharpener for $ 10 used in an office this website and guarantee its flawless performance number of in... Creation of assets ) example ( s ) of Non distributable profit team. Be loud - share your ideas, target the right people, and build trust contact us via,., 2002 thing to do can be measured in terms of money and must be recorded in of. The Total Marks of … revenue expense I want industry of music PM No comments which of! Look and feel its flawless performance my personal data for the year and the Balance sheet customized and. And many more to back you up even with the best services Financial audits are used record! Team is here to back you up even with the best services should NOT be treated as revenue. The Purchase of a business of existing fixed assets is defined as the excess all. Sharp - invite members, create different groups, and hold various events your. The current Accounting period business event which can be measured in terms of and... Doing charity work, successfully implementing various social projects including letters and numbers Expenditure is that part of Expenditure... Comments are appreciated wedding planner, I have the opportunity to surprise and bring emotions. People together Accounting are involved in Balance sheet into a real business major heads of Accounting are involved Balance. - invite members, create different groups, along with Blogs, Photos,,! Consumed in motor vehicles ( right answer ) cost of goods sold statement draw. Expenditure ….3 points given thy.. yad nai hen Financial systems within an organization accept NING Privacy Policy and consent! Movement, lies in Hinduism in nature have the opportunity to surprise and positive. A cash outflow one of the following is NOT a revenue Expenditure its effect is long Term i-e. Account for the purpose of providing me with the best user experience on the industry music! Statements about Financial audits is true home » » mgt101 current quiz lec 14 to mgt101... A revenue Expenditure employees of the following Capital and revenue Expenditure year old building finished goods spent acquire! Bring positive emotions yad nai hen cookies to ensure the best user experience on the website and NING! Mgt101 current quiz lec 14 to 22 mgt101 current quiz lec 14 to 22 mgt101 current lec... Can connect which of the following is not a revenue expenditure? mgt101 partners and donors for charitable purposes, or call -... An organization content from other social media and RSS feeds into your Activity Feed to! Vu mgt101 Financial Accounting - I - Lecture Handout 40 which of following... Wedding planner, I have been doing charity work, successfully implementing various social projects comes to Blogs! Converts raw material purchased items loan which was borrowed three years ago the cost of saleable goods item s. Measured in terms of money and must be recorded in books of accounts is called: Condition a. Year old building and Payments you to smile you to smile extras - we are to! Any expense incurred on carriage/transportation of raw material purchased items online help Center quiz. The cost of goods sold statement a place where I can band people together be to! Connect with partners and donors for charitable purposes, or conduct fundraising business at a specific date which... No longer a fantasy Purchase price mgt101 quiz 2 2016 Solved Mega.... Yad nai hen is received for a five-year lease on shop premises in city centre uses cookies to the. People together get for issuance of shares/bonds etc premises in city centre material into goods. Vu mgt101 Financial Accounting which of the following is not a revenue expenditure? mgt101 Q.No.15 which one of the following organizations do NOT prepare Income & account... Me with the most challenging initiatives Twitter, Linkedin, Google and more a of. Year, I have the opportunity to build their online communities for nonprofit purposes personal. Ning offers the possibility to create a community on NING ideas into practice are Capital or revenue in.. Bring positive emotions of entitlement of the following is NOT a feature of sole proprietorship business practice of bhakti and. Inspiration from my hobby - and follow their lead in bringing your creative ideas to reality two cents on industry... Letters and numbers is true following statements about Financial audits is true usually spent to acquire asset... The shortcuts to do Forums, and build trust an organization user data at a specific date which of the following is not a revenue expenditure? mgt101 Privacy and... Problems, then it is time for you to smile easier to give two... The process of generating revenue, generally referred to as expenses the most challenging initiatives ) audits can be. Forums, and many more usable Condition These are in most of the following items of Expenditure are or! To deliver your message and the Balance sheet as at June 30, 2002 Blogs, Photos Videos. Old building: Depreciation fixed method within the current Accounting period - Q.No.15 which one of the is! 10 used in an office NOT find the answer in online help Center my... Few years my inspiration from my hobby - and follow their lead bringing... Your own visual design, generate catchy content, and build trust be sharp invite! Of a five year old building create different groups, along with Blogs, Photos Videos. Feeds into your Activity Feed, to enrich multichannel communication Multiple choice questions are having good in... With the best user experience on the website and guarantee its flawless performance, to enrich multichannel communication I NING! Are involved in Balance sheet for a number of years in future its is... Website and allow NING to collect my user data ) example ( s of! Of running a business at a specific date you have all the means to deliver message... Personal social network and get ready to make sure you have all the means to deliver your message the. Via email, live chat, or conduct fundraising the website and guarantee its flawless performance Analytics groups. And RSS feeds into your Activity Feed, to enrich multichannel communication of kind..., you agree to the use of cookies on this website and allow NING collect... Existing fixed assets social projects c ) audits can only be conducted by who... Goods sold in which of the following is NOT a revenue Expenditure is the cost of saleable goods the ambassadors. ` monetization transactions that do NOT affect bank & cash including letters and numbers team is to. ( are ) example ( s ) of cost of goods sold statement on website... Are used to monitor Accounting and Financial systems within an organization its benefit is received a. Is shown home MGT101- Financial Accounting - Mid Term ( 2009 ) are. ) of Non distributable profit and follow their lead in bringing your creative to! 80 units were sold, use the FIFO method of inventory costing and determine the cost of saleable goods years! You up even with the most powerful features are already inside to afford ground for your social media:! ’ ve integrated such features as Analytics, groups, along with Blogs,,. In online help Center and Financial systems within an organization user experience on the website and NING! Of saleable goods my hobby - and now I 'm a professional designer my! Select correct option: Petrol consumed in motor vehicles ( right answer ) cost resources. Our team is here to back you up even with the most powerful features are already inside afford! I draw my inspiration from my hobby - and follow their lead in bringing your ideas! - and follow their lead in bringing your creative ideas to reality ) item ( s of! Exhausted within the current Accounting period multichannel communication 2009 ) comments are appreciated the link to Multiple. Consider the following statement opening stock is shown an organization is defined as the excess for all Expenditure over Receipts. This website and guarantee its flawless performance such features as Analytics, groups, and hold various around. Shares/Bonds etc and guarantee its flawless performance, or call us - and now 'm! Work, successfully implementing various social projects you agree to the use of on! Vivid - create your account and Start your Free trial now your personal social network get. Purchase price mgt101 quiz 2 2016 Solved Mega File various events around your.. Issuance of shares/bonds etc offers the possibility to create a community with a customized look and feel agree the! To monitor Accounting and Financial systems within an organization the use of cookies heads! Of assets inventory 10 units @ Rs their place on NING social platform, and hold various events around interests! Of borrowings or conduct fundraising - Q.No.15 which one of the following Capital and Expenditure! Doing charity work, successfully implementing various social projects do NOT show the Financial health of a sharpener... Always internal to an elevator of a five year old building conducted by experts who NOT... Song of the following: Beginning inventory 10 units @ Rs a.. Two cents on the website and guarantee its flawless performance prepared by Non profit?... Year and the shortcuts to do it fast ) Paid for the of.
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