MGT101(Financial Accounting ) Grand Quiz solution Fall 2020

  Today we will talk about the MGT101  Quiz solution. If you have any doubts about the answer or if you know any answer, you can -You can - tell us in our comment section۔ Let's read and solved Quiz MGT101 solution fall 2020. 

MGT101 Quiz With Solution

So Start Quiz MGT101 Grand Quiz Solution Part 1 

Q1to

Q1:Total assets - Total liabilities =?

• Cost of sales
• Expenses
• Resources
• Owners Equity

Q2:Which of the following is TRUE regarding Discount Received from a creditor?

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• it is an Expense
• it is an income
• it is a Cash payment
• it is a Cash receipt

Q3:The favorable balance as per cash book (bank column)is:

• Debit balance as per cash book
• Credit balance as per cash book
• debit balance as per bank starement
• unfavorable balance as per bank statement

Q4:---------- is the art of recording classifying and summarizing the transactions and event of a business and interpreting the results thereof-

• Book- keeping
• Accounting 
• Management
• Auditing