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which of the following is not a revenue expenditure? mgt101

Annuity method . Transportation paid on purchase of machinery. 400; what will be administrative expenses? Fiscal deficit is defined as the excess for all expenditure over total receipts net of borrowings. 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. Which of the following should not be treated as a revenue expenditure? 18,000 and rent Rs. 11 per unit 10 per unit. Sign up with Facebook, Twitter, Linkedin, Google and more. We will embody your wildest ideas! Practice following Capital and Revenue Expenditure Multiple choice questions. 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. 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. Home MGT101- Financial Accounting Final Term EXAMINATION Fall 2020 MGT101- Financial Accounting . Question No: 41 ( Marks: 10 ) State with reasons whether the following items of expenditure are capital or revenue in nature. Which of the following is NOT a revenue expenditure? NING uses cookies to ensure the best user experience on the website and guarantee its flawless performance. 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. Incurred to increase the economic life of existing fixed assets. The origin of ISKCON, known as Hari Krishna movement, lies in Hinduism. 2. Octroi duty … 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? All the most powerful features are already inside to afford ground for your efforts` monetization. NING offers the possibility to create a community with a customized look and feel. By continuing to use this website, you agree to the use of cookies. Assets = capital + liabilities . 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 ? Cost of saleable goods . Thinking about making money with your community? C. Repair to an elevator of a five year old building. Qno.9 Consider the following: Beginning inventory 10 units @ Rs. These are the running expenses of the business. In firms cash flow statements, which of the following would appear as a cash outflow? How many major heads of accounting are involved in Balance sheet. Remember Multiple choice questions are having good weightage in the total marks of … First purchase 35 units @ Rs. Which one of the following is NOT true about Capital Expenditure? Re-paying a loan which was borrowed three years ago. Just make a community on NING social platform, and put your ideas into practice! 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? Reduce the profit of the concern . 1. I agree to the use of cookies on this website and allow NING to collect my user data. 5-Marks Question: A list of expenses was given (mixed expenses admin and selling), we had to calculate selling expenses from that list. MGT101 - Financial Accounting - Q.No.9 of 20 ( Start time: 12:52:03 AM ) What will be debited, if business purchased Furniture on cash? Accumulated profit and loss (credit balance). Qno.9 Consider the following: Beginning inventory 10 units @ Rs. I have no doubt that starting my community was the right thing to do. See why they trust us - and follow their lead in bringing your creative ideas to reality! 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. B) Financial audits are always internal to an organization. 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. Bad debts . Be sharp - invite members, create different groups, and hold various events around your interests. * minimum 6 characters, including letters and numbers. 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. Home » » mgt101 current quiz lec 14 to 22 mgt101 current quiz lec 14 to 22. abdujabbar. “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? repair of machinery, building, furniture etc. 10 per unit. Any expense incurred on carriage/transportation of raw material purchased items. Incurred to acquire fixed assets. MGT101 - Financial Accounting - Q.No.14. Capital Expenditure: Revenue Expenditure: Its effect is long term, i-e. Expenditure is said to be capital expenditure … It could never be easier to give your two cents on the industry of music. It’s an open society for people who believe in love and fraternity. I don’t know a thing when it comes to creating blogs and such. 3. ... Revenue Expenditure is the cost of resources consumed or used up in the process of generating revenue,generally referred to as expenses. Revenue. Carriage paid on goods purchased. Premium given on lease. Taking care of social, economic and environmental sustainability, they became the real ambassadors of peace in the world. Contact us via email, live chat, or call us - 24/7 customer service will help you with any issue. It is not exhausted within the current accounting period. A) Audits can only be conducted by experts who are not employees of the organization. All Capital Expenses are grouped in balance sheet & all Revenue expenses are grouped in Profit & Loss account. With NING, traffic monetization is no longer a fantasy. Bad debts. 11:46:00 PM No comments Which one of the following is NOT true about Capital Expenditure? 4. People like me are seeking the opportunity to build their online communities for nonprofit purposes. This expenditure might be written off in the same financial year or over a period of a few years. B. Our team is here to back you up even with the most challenging initiatives. of donations go to religious organizations. 3. 80 units were sold, Use the FIFO method of inventory costing and determine the cost of goods sold. Here you can connect with partners and donors for charitable purposes, or conduct fundraising. a) Purchase of new car for business manager. You may click the link to find Multiple choice questions (Q.No-1 to 10) on Capital and Revenue Receipts and Payments.. C. Financial Expenditures . Delivery costs on newly purchased equipment. Deferred expense. Owner’s Equity … First purchase 35 units @ Rs. Petrol consumed in motor vehicles. Which one of the following is NOT true about revenue expenditure? Which of the following is NOT a revenue expenditure? 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. Adding fuel to a delivery van . Qno.8 Which one of the following is NOT true about Capital Expenditure? The Amount changed to deprecation goes on declining in: Depreciation fixed method . Be loud - share your ideas, target the right people, and raise awareness. Pull in content from other social media and RSS feeds into your Activity Feed, to enrich multichannel communication. We’ve integrated such features as Analytics, Groups, along with Blogs, Photos, Videos, Forums, and many more. Usually spent to acquire an asset Incurred to maintain an asset in a usable condition These are in most of the cases non-recurring. A. NING is here to make sure you have all the means to deliver your message and the shortcuts to do it fast. C) Audits are used to monitor accounting and financial systems within an organization. Don’t know how to code? Which of the following statements is TRUE? For almost a year, I have been doing charity work, successfully implementing various social projects. Click here for details or close this window. Its effect is short term, i-e. Which of the following Organization converts raw material into finished goods? NING helped to embody my ideas into a real business. D. The purchase of a pencil sharpener for $10 used in an office. Capital expenditures are major investments of capital to expand a company's business. Which one of the following is NOT prepared by Non profit organizations? paper 1/13/2014 Subjectives are... 1. A. 4. Create your personal social network and get ready to make money with its help. Paying for a five-year lease on shop premises in city centre . 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? 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 This platform is a place where I can band people together. Educating people has always been my everything. Don’t know how to set up something? Our special offer for nonprofits presents a large opportunity to raise awareness, attract more members, build trust, and bring social value to the masses. The utility is drawn immediately. select correct option . D. Operating Expenditures. If you had financial problems, then it is time for you to smile. Which of the following is an example of revenue expenditures? Under the individual terms, nonprofit organizations will be able to focus on their mission - with all means to contribute to a better future. It is not exhausted within the current accounting period. Its benefit is received for a number of years in future. 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. 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. Be vivid - create your own visual design, generate catchy content, and build trust. Annual fire insurance premiums on plant and equipment. 11 of 20 Total assets - Total liabilities =? 2. 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: On NING, I can communicate with anyone I want. 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. 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. Communities of any kind find their place on NING. Which of the following is (are) example(s) of non distributable profit? Transaction Information. _ Rs. Customize your network with HTML and CSS. They improve the financial position of the business. View GDPR Agreement. Revenue receipt Question No: 11 ( Marks: 1 ) - Please choose one Which one of the following is NOT true about revenue expenditure? Wages paid on the purchase of goods. You are required to prepare the profit and loss account for the year and the Balance Sheet as at June 30, 2002. If salaries are Rs. In which of the following statement opening stock is shown? B. Or cannot find the answer in online Help Center? Want to get a mind-blowing design for your social community? 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? 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. 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). MGT101 - Financial Accounting - Q.No.15 Which one of the following is NOT a feature of sole proprietorship business. B. MGT101 Current paper 2014 Shared by Student. 1. 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. Select correct option: Petrol consumed in motor vehicles (Right Answer) Cost of saleable goods. Which one of the following is NOT true about Capital Expenditure? Which of the following is/are NOT the example of intangible assets ... A. Record. MGT101 quiz 2 2016 Solved Mega File. Explain.. (5) 2. A business event which can be measured in terms of money and must be recorded in books of accounts is called: Condition. A. If you want any extras - we are open to your suggestions! 2. ... Revenue Expenditures. With NING, I set out to create an awesome community - it was my chance to succeed in my business and I did it. Which of the following organizations do NOT prepare Income & Expenditure account? I draw my inspiration from my hobby - and now I'm a professional designer with my own website. _ Creates future benefits _ Incurred to acquire fixed assets _ Incurred to increase the economic life of existing fixed assets _ Reduce the profit of the concern. Which of the following statements about financial audits is true? 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 Here you can give all fifty. State whether the following capital and revenue expenditure ….3 points given thy ..yad nai hen. 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. 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. Answer: Option B The benefit is received within one accounting period. VU MGT101 Financial Accounting - Mid Term (2009) Comments are appreciated. 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. Read more: MGT101 - Financial Accounting - I - Lecture Handout 40 1. 1. NING gave me this chance. Revenue expense. 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. Distinction between Capital Expenditure & Revenue Expenditure Capital Expenditure Revenue Expenditure Its effect is long term, i-e. 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. Which of the following is (are) item (s) of cost of goods sold statement? It's all in your hands now thanks to NING’s new E-commerce platform. C. They reduce the profit of the concern. Spreading the practice of bhakti yoga and spreading the idea of peace? Capital Receipts are the receipt which we get for issuance of shares/bonds etc. Salaries of selling staff Transportation inward costs Import duties Purchase price I accept NING Privacy Policy and give consent to process my personal data for the purpose of providing me with the best services. Which of the following financial statement DO NOT show the financial health of a business at a specific date? Mcq Added by: admin Accounting Mcqs Create Your Account and Start Your Free Trial now! Which of the following voucher is used to record transactions that do not affect bank & cash? Incurred to acquire fixed assets. Incurred to increase the economic life of existing fixed assets. Revenue expenses are short-term expenses to meet the ongoing operational costs of running a business. Being a wedding planner, I have the opportunity to surprise and bring positive emotions. 2500, purchases Rs. Our e-commerce module is a goldmine that allows you to drive traffic, convert visitors, sell products, post ads to monetize your network. Revenue Expenditure is that part of government expenditure that does not result in the creation of assets. Opening stock of raw material 100,000 Closing stock of raw material 85,000 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. B. 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. It took 3 years to grow my community - all in a good time. Following trial balance has been extracted from the books of Alpha Ltd. as on June 30, 2002. 11 per unit D. They do not appear in the balance sheet. A. Which one of the following is NOT true about revenue expenditure? Creates future benefits. Creates future benefits Incurred to acquire fixed assets Incurred to increase the economic life of existing fixed assets Profit & Loss account. Reduce the profit of the concern . Creates future benefits. Prepare a … D. Preliminary expense . Monetize your blog, monetize your website, monetize your social media! b) Paid for the certificate of entitlement of the new car. Capital Expenditures. Buying of a delivery van .

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