Answer the questions

shsaeed · 10-07-2007, 07:16 PM

1 . Which one of the following is a Current Liability
Bonds Payable
Mortgage Payable
Accounts Payable
Premium on Bonds Payable

2 . Which one of the following is an Operating Expense
Loss from fire
Interest Expense
Depreciation Expense
Credit Card Expense

3 . Which one of the following is a Long term Asset
Stationary
Machinery
Cash
Accounts Receivable

4 . Which one of following is an Owner's Equity
Withdrawls
Purchases
Cash
Commissions Earned

5 . Which one of the following is a Intangible Asset
Treasury Stock
Stationary
Change Fund
Copyright

6 . Which one of the following is a Longterm liability
Mortgage Payable
Discount on Bonds Payable
Dividents Payable
Interest Payable

7 . Which one of the following is a Intangible Asset
Change Fund
Freewill
Patents
Petty Cash

8 . Which one of the following is a Contra Long Term Asset
Accumulated Depreciation
Allowance for Doubtful Accounts
Premium on Bonds Payable
Discount on Notes Payable

9 . Which one of the following is a Cuurent Liability
Dividends Payable
Discount on Notes Payable
Discount on Bonds Payable
Mortgage Payable

10 . Which one of the following is a Contra Revenue
Accumulated Depreciation
Purchases Discount
Sales Discount
Discount on Notes Payable

Muhammad Asim Saeed Sheikh

shsaeed · 10-08-2007, 01:11 AM

I think this forum is full of qualified accountants.
Is no one can able to answer these questions?
i think everyone can get 100% marks.

noman · 10-08-2007, 02:14 AM

my answers....

1-accounts payable
2-depreciation
3-machinery
4-quetion is unclear
5-copyright
6-mortgage payable
7-patents
8-acc.depreciation
9-dividend payable
10-sales discount

shsaeed · 10-08-2007, 03:20 AM

<center>CONGRATULATIONS</center>
<center>Mr. Noman</center>

You Got 9/10

Muhammad Asim Saeed Sheikh

shsaeed · 10-08-2007, 03:24 AM

The Answer Of 4 Is Withdrawls.

Owners' Equity
Interest of the owners in the assets of the business represented by capital contributions and retained earnings.

shsaeed · 10-08-2007, 03:27 AM

1 . Which one of the following is a Capital Expense
Petrol and oil for motor vehicle
Cost of new Machinery
Rates on factory
Repainting office

2 . Which one of the following is a Revenue Expense
Petrol and oil for motor vehicle
Cost of new Machinery
Extension to factory
Solicitor's fees for purchase of new factory premises

3 . Which one of the following is a Capital Expense
Stationary
Purchase of new typewriters
Repairs to factory roof
Petrol and oil for motor vehicle

4 . Which one of the following is a Revenue Expense
Wages of staff installing new machinery
Purchase of new typewriters
Installation of air conditioning system in offices
Wages of office staff

5 . Which one of the following is a Capital Expense
Wages of staff installing new machinery
Stationary
Wages of staff using new machinery
Wages of office staff

6 . Which one of the following is a Revenue Expense
Extension to factory
Purchase of new typewriters
Replacement of typewriters
Cost of training course for staff using new machinery

7 . Which one of the following is a Capital Expense
Replacement of rotten windows in offices
Installation of air conditioning system in offices
Repainting office
Replacement of typewriters

8 . Which one of the following is a Revenue Expense
Extension to factory
Installation of air conditioning system in offices
Cost of new Machinery
Repairs to factory roof

9 . Which one of the following is a Capital Expense
Wages of staff using new machinery
Extension to factory
Repainting office
Repairs to factory roof

10 . Which one of the following is a Revenue Expense
Cost of training course for staff using new machinery
Repainting office
Cost of new Machinery
Installation of air conditioning system in offices

Muhammad Asim Saeed Sheikh

shsaeed · 10-08-2007, 05:03 PM

This is the second test is there anyone who can take.

musafir · 10-08-2007, 10:43 PM

1. Cost of new Machinery
2. Petrol and oil for motor vehicle
3. Purchase of new typewriters
4. Wages of office staff
5. Wages of staff installing new machinery
6. Replacement of typewriters
7. Installation of air conditioning system in offices
8. Repairs to factory roof
9. Extension to factory
10. Repainting office

shsaeed · 10-08-2007, 11:23 PM

<center>CONGRATULATIONS</center>
<center>Mr. MUSAFIR</center>

You Got 10/10

Ooo Bally Bally Ooo Shawa Shawa

Muhammad Asim Saeed Sheikh

shsaeed · 10-08-2007, 11:28 PM

1 . Which one of the following definition of Economics is associated to Prof. Robbins

Economics studies that part of individual and social action that is closely connected with the attainment and use of the material requisites of well being

Economics is the study of how people make choices under conditions of scarcity and the results of those choices for society.

Economics is a study of production, exchange, distribution and consumption of wealth

none of the above

2 . Which one of the following definition of Economics is associated to Adam smith

Economics studies that part of individual and social action that is closely connected with the attainment and use of the material requisites of well being

Economics is the study of how people make choices under conditions of scarcity and the results of those choices for society.

Economics is a study of production, exchange, distribution and consumption of wealth

none of the above 

3 . Which one of the following definition of Economics is associated to Prof. Marshall

Economics studies that part of individual and social action that is closely connected with the attainment and use of the material requisites of well being

Economics is the study of how people make choices under conditions of scarcity and the results of those choices for society.

Economics is a study of production, exchange, distribution and consumption of wealth

none of the above

4 . Which one of following defines Economic Surplus

Benefit of taking an action minus its cost

Cost of taking an action minus its benfit

Harm associated with taking an action minus its cost

none of the above 

5 . Which one of the following defines Marginal Benefit

Total benefit resulting from undertaking an activity divided by total units of such activity

Decrease in total benefit resulting from carrying out one additional unit of activity

Increase in total benefit resulting from carrying out one additional unit of activity

none of the above 

6 . Which one of the following defines Marginal Cost

Decrease in total cost that results from carrying out one additional unit of activity

Increase in total cost that results from carrying out one additional unit of activity

Total cost resulting from undertaking an activity divided by total units of such acitivity

none of the above

7 . Which one of the following defines Reservation price

The highest price someone is willing to pay to obtain a good or service

The lowest price someone is willing to pay to obtain a good or service

The median price someone is willing to pay to obtain a good or service

none of the above 

8 . Which one of the following defines Opportunity Cost

Value of the all other alternative together that must be forgone to undertake the activity

Value of the next worst alternative that must be forgone to undertake the activity

Value of the next best alternative that must be forgone to undertake the activity

none of the above

9 . Which one of the following defines Cost Benefit principle

An individual should not take action, if , and only if, the extra benefit from taking the action is atleast as great as the cost

An individual should take action regardless of the harm it entails

An individual should take action, if , and only if, the extra benefit from taking the action is atleast as great as the cost

none of the above

10 . Which one of the following defines Micro Economics

Mciro Economics is the study of individual choices under scarcity and its implications for the prices and quantities in individual markets

Mciro Economics is the study of the performance of national economies and the policies that government use to try to improve that performance

Micro Economics is the study of gross output of small and medium size manufacturing plants

none of the above

Muhammad Asim Saeed Sheikh

shsaeed · 10-08-2007, 11:30 PM

This is the third test hope very easy for everyone.

noman · 10-09-2007, 12:41 AM

whats your point mr.shsaeed?? u want to test ppl here or what?

shsaeed · 10-09-2007, 01:07 AM

just checking knowledge , r u never like it?

its only base , in further i ask some complex questions.
actually this will greatly help the students to get
in touch with basics.

shsaeed · 10-09-2007, 08:48 PM

Hurry Up GUYS plz take the test so i can give the next.