ATN ACADEMY

  MCQ ON ACCOUNTING 1. Which one of the following is an ingredient of the entity convention of accounting ? (A) The owner of a unit and the unit itself is one and the same (B) The owner and the unit are treated separately (C) No separate accounts for the unit is required (D) The unit is a private affairs of the owner, hence no accounting is required Answer: The owner and the unit are treated separately 2. Which one of the following accounting equations is correct ? (A) Assets = Owner’s Equity (B) Assets = Liabilities + Owner’s Equity (C) Assets = Liabilities – Owner’s Equity (D) Assets + Liabilities = Owner’s Equity Answer: Assets = Liabilities + Owner’s Equity 3. Which one of the following accounting conventions stipulates that contingent assets appear as a footnote in the balance sheet ? (A) Materiality (B) Consistency (C) Disclosure (D) Conservation. Answer: Disclosure  4. Which one of the following is not related to the convention of conservatism ? (A) Making provision for doubtful

  MCQ ON GENERAL MANAGEMENT 1. The Practice of Management written by __________. A. Peter F. Drucker. B. Terry. C. Louis Allan. D. Henry Fayol. ANSWER: A   2. Management is an organ, organs can be described and defined only through their functions. This definition was given by ____________. A. Peter F. Drucker. B. Terry. C. Louis Allan. D. Henry Fayol. ANSWER: A 3. Management is what a manger does_____________. A. Peter F. Drucker. B. Terry. C. Louis Allan. D. Henry Fayol. ANSWER: C 4. To manage is to forecast and plan, to organize, to compound, to co-ordinate and to control. This definition was given by____________. A. Peter F. Drucker. B. Henry Fayol. C. Louis Allan. D. Terry. ANSWER: B 5. Management is the art of getting things done through and with an informally organized_____________. A. Harold Koontz. B. Terry. C. Louis Allan. D. Henry Fayol. ANSWER: A 6. Management is the art and science of decision making and leadership _____. A. Harold Koontz. B. Donald J. Clough. C. Louis All