Description : Excess of credit over to debit in Profit & Loss Account indicates _______
Last Answer : Excess of credit over to debit in Profit & Loss Account indicates _______ (a) Net Profit (b) Gross Profit (c) Gross Loss (d) Net Loss
Description : Cash Flow Statement is prepared from A. Profit and loss account B. Balance Sheet C. Additional Information D. All of the above
Last Answer : D. All of the above
Description : Which of the following statements are true? A. Contribution doesn’t include fixed cost whereas profit includes fixed cost. B. Contribution is not based on the concept of marginal cost. C. Contribution above breakeven point becomes profit. D. All of the above
Last Answer : C. Contribution above breakeven point becomes profit.
Description : The collection of a $900 account after the 2 percent discount period will result in a a. debit to Cash for $882. b. debit to Accounts Receivable for $900. c. debit to Cash for $900. d. debit to Sales Discounts for $18.
Last Answer : c. debit to Cash for $900.
Description : The collection of a $600 account within the 2 percent discount period will result in a a. debit to Sales Discounts for $12. b. debit to Accounts Receivable for $588. c. credit to Cash for $588. d. credit to Accounts Receivable for $588.
Last Answer : a. debit to Sales Discounts for $12.
Description : In case of a limited company, the term financial statements includes A. Profit and loss and balance sheet B. Profit and loss account, profit and loss appropriation account and balance sheet C. Balance sheet D. None of the above
Last Answer : B. Profit and loss account, profit and loss appropriation account and balance sheet C
Description : . Building a sustainable environment includes A. developing a green supply chain B. omitting hazardous emissions C. both a & b D. writing a code of ethics
Last Answer : C. both a & b
Description : Which of the following are characteristics of B.E.P? A. There is no loss and no profit to the firm. B. Total revenue is equal to total cost. C. Contribution is equal to fixed cost. D. All of the above.
Last Answer : D. All of the above.
Description : When contribution is positive but equal to fixed cost, A. There is loss equal to fixed costs B. There is loss more than fixed costs C. There will be loss less than fixed costs D. There will be neither profit not loss
Last Answer : D. There will be neither profit not loss
Description : Which of the following statements related to Contribution Analysis are ture? A. If contribution is zero, there is loss equal to fixed costs B. If contribution is negative, loss is less than fixed costs ... contribution is positive and more than fixed cost there will be profit. D. All of the above
Last Answer : A. If contribution is zero, there is loss equal to fixed costs
Description : If 20% discount is allowed on the marked price then the profit is 40%. If the discount is increased to 40% then what will be the profit percentage?
Last Answer : cp=100% profit=40% selling price= 140% marked price = 140% mp=140*100/80= 175 40%discount in mp= 175 *60/100 New sp=105 new profit%= new sp-cp/cp *100 =105-100/100*100 =5
Description : Marketers operate in which marketplaces: A. Consumer and business B. Global and non-profit C. a & b both D. None of the above
Last Answer : C. a & b both
Description : Major retailer types include the following EXCEPT ________. A. specialty store B. discount store C. catalog showroom D. the Internet
Last Answer : D. the Internet
Description : Which of the following see(s) the product, in a commodity market as very important and demand the deepest discount and the highest service? A. Bargain hunters B. Programmed buyers C. Relationship buyers D. Transaction buyers E. Gatekeepers.
Last Answer : A. Bargain hunters
Description : National Income ignores: A. Sales of a firm B. Salary of Employees C. Exports of the IT Sector D. Sale of land
Last Answer : D. Sale of land
Description : The following is (are) the indirect labour cost(s) A. Wages paid to storekeeper B. Salary of works manager C. Wages paid to gatekeeper D. All of the above
Description : The OECD A. Gathers and publishes data on the international economy. B. Provides financial assistance to developing countries. C. Approves international standards and product regulations. D. ... more developing countries than developed countries. E. Is a cartel of countries that export oil.
Last Answer : A. Gathers and publishes data on the international economy.
Description : Carroll's model of social responsibility includes the social responsibilities categories _____________, ____________, and _____________ plus those at the discretion of the firm. ... ; economic responsibilities D. occupational safety; legal responsibilities; economic responsibilities v
Last Answer : B
Description : As per section 2(12), of the Sale of Goods Act, quality of goods includes A. State of goods B. Conditions of goods C. Both (a) and (b) D. None of above
Last Answer : C. Both (a) and (b)
Description : The discount allowed is a real account.
Last Answer : State whether the following statement are ‘True or False’ with reason : The discount allowed is a real account.
Description : Cash discount allowed to a debtor should be credited to a) Discount account b)Customer’s account c) Sales account d) Cash account
Last Answer : b)Customer’s account
Description : When the total of debit side of an account exceeds credit side, it is called __________ balance.
Last Answer : When the total of debit side of an account exceeds credit side, it is called __________ balance. (a) Debit (b) Credit (c) Nil (d) Real
Description : The profit made by David in selling his calculator for Rs.400 would be the same as the loss he would have made in selling it at a 25% loss. If he sold his calculator after offering a discount of Rs.100, find the percentage at which he marked it above the cost price. a)56.25% b)62.5% c)60% d)50%
Last Answer : a)56.25%
Description : Kumaran stores offered 60% discount on the marked price and there is a loss of 30%. If it is sold the MP, find the profit percentage?
Last Answer : MP= Rs X Sp= 40/100*x= 2x/5 CP= 2x/5*100/70=4x/7 Profit when sold at MP= x-4x/7 =3x/7 Profit% = (3x/7)/(4x/7)*100=75%
Description : The market price of a novel was 50% more than its cost price. Vadi was going to sell it at market price to a customer, but he showed vadi some defects in the novel, due to which vadi gave ... another discount that was equal to 14.5% of the cost price. What was the approximate profit/loss to vadi?
Last Answer : Let the cost price be Rs. 100 Then, market price is Rs. 150 Now, the first discount is of 33% Rs.150 =Rs. 50 Hence, its selling price = 150 - 50 = Rs. 100 since vadi's ... further discount will be equal to loss % The next discount of 14.5% will be the loss percentage to vadi
Description : What is the highest % discount(approximately) that a trader can offer on his marked price, so that he ends up selling at no profit or loss, if he initially marked his goods up by 60%?
Last Answer : Let CP= Rs 100 MP= Rs100+60=160 Discount= x% then, 160*[100-x/100] =100 100-x=100*100/160 x=37.5%
Description : Deepak selling a product at 48% discount, he incurs a loss of 10%. The marked price of the product is 15000 Rs. At what percent discount he should sell the product so as to have a profit of 30%.
Last Answer : Mp=15000==>Sp= 15000*0.52= 7800. Loss of 10% is there==>Cp= 7800/ 0.90= RS.8666.66 Profit of 30% = 6000*1.15=11266.66 Discount should be Rs2600 Discount % should be {2600/15000}*100 =17.3%
Description : Sekar gives the discount of 42% for nokia phone, after he marked the price 29% more than its cost price. find his loss or profit %?
Last Answer : Cp= 100 MP=129/100*100=129 Sp=129*42/100 =129-54.18 =74.82 Loss% = (100-74.82) = 25.18%
Description : By selling a mobile at 52% discount, a seller incurs a loss of 8%. The marked price of the product is 18000 Rs. At what percent discount the seller should sell the mobile so as to have a profit of 33%.
Last Answer : Since, Marked Price = 18000 Therefore, Selling Price = 18000*0.48 = 8640 Loss of 8% is there Therefore, Cost price = 8640/0.92 = 9391.30Rs To have profit of 33% The Selling Price should be = 9391. ... should be 18000 - 12490.42 = 5509.58Rs Discount% should be [5509.58/18000]*100 = 30.60 ≈ 31%.
Description : Sales for desired profit is measured as A. (Fixed cost + profit)/ (P/V Ratio) B. (Fixed cost + profit) * (P/V Ratio) C. (Fixed cost - profit)/ (P/V Ratio) D. None of the above
Last Answer : A. (Fixed cost + profit)/ (P/V Ratio)
Description : Which of the following statements are true? A. P/V Ratio can never be used to measure break-even point B. Higher the P/V ratio less will be the profit and vice versa C. Concept of P/V ratio is also used to determine profit at a given volume of sales D. All of the above
Last Answer : C. Concept of P/V ratio is also used to determine profit at a given volume of sales
Description : Profit-Volume ratio is also known as A. Contribution ratio B. Contribution/Sales ratio C. Marginal Income percentage D. All of the above
Description : Using equation method, Break-even point is calculated as A. Sales = Variable expenses + Fixed expenses + Profit B. Sales = Variable expenses + Fixed expenses - Profit C. Sales = Variable expenses - Fixed expenses + Profit D. None of the above
Last Answer : A. Sales = Variable expenses + Fixed expenses + Profit
Description : Under absorption costing, managerial decisions are based on A. Profit B. Contribution C. Profit volume ratio D. None of the above
Last Answer : A. Profit
Description : In context of net operating profit, which of the following statements are true? A. If all costs are variable, the amount of profit obtained in marginal costing and absorption costing will be same. B. If ... same in absorption costing and marginal costing. C. Both a and b D. None of the above
Last Answer : C. Both a and b
Description : While computation of profit in marginal costing A. Total marginal cost is deducted from total sales revenues B. Total marginal cost is added to total sales revenues C. Fixed cost is added to contribution D. None of the above
Last Answer : A. Total marginal cost is deducted from total sales revenues
Description : Sales margin variance due to sales quantities is measured as A. Standard profit - Revised standard profit B. Revised standard profit - Budgeted profit C. Standard profit + Revised standard profit D. Revised standard profit + Budgeted profit
Last Answer : B. Revised standard profit - Budgeted profit
Description : Which of the following is responsibility center? A. Expense center B. Profit center C. Investment center D. All of the above
Description : Contribution margin center is also known as A. Expense center B. Profit center C. Investment center D. All of the above
Last Answer : B. Profit center
Description : In profit center revenue represents a monetary measure of output emanating from a profit center in a given period irrespective whether A. The revenue is realized or not B. The output is sold or not C. Both a and b D. None of the above
Description : Gross profit ratio is calculated by A. (Gross Profit/Gross sales)*100 B. (Gross Profit/Net sales)*100 C. (Net Profit/Gross sales)*100 D. None of the above
Last Answer : B. (Gross Profit/Net sales)*100
Description : Gross Profit ratio is also termed as A. Gross Profit Margin B. Gross Margin to net sales C. Both a and b D. All of the above
Description : Profit for the objective of calculating a ratio may be taken as A. Profit before tax but after interest B. Profit before interest and tax C. Profit after interest and tax D. All of the above
Description : Under the _____________, both internal and external corporate governance mechanisms are intended to induce managerial actions that maximize profit and A. shareholder value. B. Shareholder theory. C. Agency theory. D. Stakeholder theory. E. Corporate governance theory
Last Answer : A. shareholder value.
Description : Although the promotion mix is the company’s primary communication activity, the __________________ must be coordinated for greatest communication impact. A. Organizational culture B. Entire marketing mix C. Demand mix D. Profit variables in a company
Last Answer : B. Entire marketing mix
Description : Intermediaries sponsor their own brands because ________. A. private-label brands sell at higher volumes B. private-label brands are recognizable to the consumer as being widely available from many ... sold at lower prices yet generate a higher profit margin because of their lower cost structure
Last Answer : D. private-label brands can be sold at lower prices yet generate a higher profit margin because of their lower cost structure
Description : A distribution channel moves goods and services from producers to consumers. It overcomes the major time, place, and ______________ gaps that separate goods and services from those who would use them. A. possession B. profit C. image D. psychological
Last Answer : A. possession
Description : In marketing, ______ is the focal point. A. Profit B. Sales C. Customer D. All of the above
Last Answer : C. Customer
Description : Total managerial remuneration cannot exceed ____% of net profit A. 11 B. 12 C. 13 D. 14
Last Answer : A. 11
Description : Mark correct option a) The expression postage means the duty chargeable for the transmission by post of postal articles b) The expression postage stamps means any stamp provided by the [Central Government] ... room, carriage or place used for the purposes of the Post Office. d) All the above
Last Answer : d) All the above