Top 150+ Solved Co-operative Management and Administration MCQ Questions Answer
Q. In the case of a society with unlimited liability, property statement of members showing theassets and liabilities of each individual member on the date of his admission with full details of the property including the survey number of the lands, is kept in ………………………..
a. liability register
b. loan ledger
c. suspense account register
d. register of declaration
Q. Every co-operative society shall maintain accounts and book for the purpose of recordingbusiness transactions by it and close them every year on …………………
a. 31st december, by the 31st january
b. 31st march, by the 30th april.
c. 30th june, by the 31st july
d. 30th september, by 31st october
Q. Every balance sheet of a co-operative society shall give …………………… view of the stateof affairs of the society as at the end of the Co-operative year.
a. a true and fair
b. actual
c. fair
d. overall
Q. Every Co-operative society shall submit to the …………………..annually within April eachyear a copy of each of the statements specified in the act.
a. auditor
b. directors
c. secretary
d. registrar
Q. A statement which contains a classified summary or list of all closing balances of the GeneralLedger is known as the ………………….
a. profit and loss account
b. balance sheet
c. trial balance
d. receipts and payments
Q. If the totals of two sides of trial balances agree, normally it signifies the ………………. of theaccounts.
a. correctness
b. accuracy
c. arithmetical accuracy
d. true and fair view
Q. The odd one out in the following is…………………….
a. fuel, oil electricity and other power charges.
b. store and spare parts consumed.
c. direct or indirect labour.
d. cost of goods purchased
Q. The odd one out in the following is…………………….
a. direct or indirect labour.
b. maintenance of factory, plant, machinery, tools, stores, etc.
c. insurance of factory building, tools, machinery et
d. value of closing stock.
Q. ……………..is not shown in Manufacturing Account.
a. factory lighting, water charges etc.
b. interest paid and due
c. rent, rates and taxes of the factory premises.
d. salaries of the technical staff and officers including works manager, factory superintendent etc.
Q. Cost of goods purchased, Net sale proceeds, Value of closing stock are shownin……………….
a. profit and loss account
b. trading account
c. manufacturing account
d. balance sheet
Q. Interest earned, Miscellaneous income, Commission, Profit in non-credit businessareshown on the credit side of ………
a. profit and loss account
b. trading account
c. manufacturing account
d. balance sheet
Q. ………………are the expenses paid on account of rent, rates and taxes, insurancepremiums, subscriptions membership fee etc. for periods that extent beyond the date of the balance sheet.
a. prepaid expenses
b. interest receivable
c. deferred revenue expenditure
d. outstanding expenses
Q. Expenses incurred but not paid, are called………….
a. prepaid expenses
b. interest receivable
c. deferred revenue expenditure
d. outstanding expenses
Q. Interest accrued up to the date of balance sheet are known as ………………..
a. prepaid expenses
b. interest receivable
c. deferred revenue expenditure
d. outstanding expenses
Q. When heavy expenditure is incurred and the benefits of which extend to periodsbeyond the date of the balance sheet, such expenditure should be equitably spread over the period during which the benefits of such expenditure would be available and are known as ………………….
a. prepaid expenses
b. interest receivable
c. deferred revenue expenditure
d. outstanding expenses