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 : 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
Last Answer : C. Both a and b
Description : Profit-Volume ratio is also known as A. Contribution ratio B. Contribution/Sales ratio C. Marginal Income percentage D. All of the above
Last Answer : D. All of the above
Description : Margin of safety is equal to A. Actual sales – Sales at Breakeven point B. Actual sales + Sales at Breakeven point C. Actual sales x Sales at Breakeven point D. Actual sales / Sales at Breakeven point
Last Answer : A. Actual sales – Sales at Breakeven point
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 : 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 : The factor which limits the volume of output of different products of an understanding at a particular point of time is known as… A. Key factor B. BEP C. Contribution D. None
Last Answer : A. Key factor
Description : Direct material cost + direct labor cost + other variable costs is equal to… A. Contribution B. Total cost C. Marginal cost D. Sales
Last Answer : A sales forecast is only......
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 : Determine Contribution if Sales is Rs 1,50,000 and P/V ratio is 40%. A. Rs 60,000 B. Rs 70,000 C. Rs 30,000 D. None of the above
Last Answer : A. Rs 60,000
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 : 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 : 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 : When contribution is negative but less than 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. All of above are false
Last Answer : C. There will be loss less than fixed costs
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 : 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 : How is Contribution Margin calculated? a. Material Cost – Labor Cost b. Price*(Material Cost-Labor Cost) c. Price – (Material cost + Labor cost) d. Price – Material Cost e. Profit –(Material Cost + Labor Cost)
Last Answer : c. Price – (Material cost + Labor cost)
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
Description : Absorption costing is also known as A. Historical costing B. Total costing C. Both a and b D. None of the above
Description : Marginal costing is also known as A. Direct costing B. Variable costing C. Both a and b D. None of the above
Description : Turnover ratios are also known as A. Activity ratios B. Performance ratios C. Both a and b D. None of the above
Description : Cash Flow Statement is also known as A. Statement of Changes in Financial Position on Cash basis B. Statement accounting for variation in cash C. Both a and b D. None of the above
Description : Which statement is true? 1) The balance of payments depends on the principle of double-entry accounting. 2) Decrease in assets and increase in liabilities of net worth represent credits or sources of funds. 3) The balance of ... period of time. A. Only 1 B. Only 2 C. Only 3 D. 1, 2 and 3
Last Answer : D. 1, 2 and 3
Description : A primary objective of dual exchange rates is to allow a country the ability to insulate its balance of payments from net: A. Current account transactions B. Unilateral transfers C. Merchandise trade transactions D. Capital account transactions
Last Answer : D. Capital account transactions
Last Answer : D. Capital account transaction
Description : A country’s Current Account: A. Balance equals the change in its net foreign wealth. B. Balance equals the change in its foreign wealth. C. Surplus equals the change in its foreign wealth. D. Deficit equals the change in its foreign wealth. E. None of the above.
Last Answer : A. Balance equals the change in its net foreign wealth.
Description : In agricultural sector net value added is estimated by A. Income method B. Expenditure method C. Production method D. All the three
Last Answer : C. Production method
Description : Nominal GDP is A. The total value of goods and services net of exports B. The total value of goods and services produced during periods of low unemployment C. The total value of goods and services measured at current prices D. The total value of goods and services produced at full employment.
Last Answer : C. The total value of goods and services measured at current prices
Description : When National Income is calculated with reference to a base year, it is called: A. Nominal National Income B. Net National Income C. Real National Income D. Gross National Income
Last Answer : C. Real National Income
Description : To get the Net National Product, we deduct what from the Gross National Product: A. Direct Taxes B. Imports C. Interim payments D. Loss
Last Answer : D. Loss
Description : National Income is the: A. Net National Product at market price B. Net National Product at factor cost C. Net Domestic Product at market price D. Net Domestic Product at factor cost
Last Answer : C. Net Domestic Product at market price
Description : Operating ratio is calculated by A. (Operating Cost/Gross sales)*100 B. (Operating Cost/Gross sales)*100 C. (Operating cost/Net sales)*100 D. None of the above
Last Answer : C. (Operating cost/Net sales)*100
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 : Identify the statement that is consistent with utilitarian ethical theory: A. Adhering to a set of principles may well forbid an act that would otherwise provide overall net good consequences. B. No act is ever ... lying are wrong of their very nature, the kind of acts they are. No amount of n
Last Answer : B. No act is ever morally right or wrong in all cases, in every situation. It will all depend on the act's consequences.
Description : Identify the statement that is consistent with utilitarian ethical theory: A. Adhering to a set of principles may well forbid an act that would otherwise provide overall net good consequences. B. No ... amount of net good consequences could ever justify them. D. The end never justifies the means.
Description : Total managerial remuneration cannot exceed ____% of net profit A. 11 B. 12 C. 13 D. 14
Last Answer : A. 11
Description : IBRD (International Bank for Reconstruction and Development) also known as A. Exim Bank B. World Bank C. International Monetary fund D. International Bank
Last Answer : B. World Bank
Description : The scare factors is also known as A. Key factor B. Abnormal factor C. Linking factor D. None of the above
Description : Debtors Turnover ratio is also known as (i) Receivables turnover ratio (ii) Debtors velocity (iii) Stock velocity (iv) Payable turnover ratio A. (i) and (ii) B. (i) and (iii) C. (ii) and (iii) D. (iii) and (iv)
Last Answer : A. (i) and (ii)
Description : Pre incorporation contract is also known as _________ A. Provisional B. Preliminary C. Illegal D. Legal
Last Answer : A. Provisional
Description : Pick out the wrong statement. (A) Gross margin = net income - net expenditure (B) Net sales realisation (NSR) = Gross sales - selling expenses (C) At breakeven point, NSR is more than the total production cost (D) Net profit = Gross margin - depreciation - interest
Last Answer : (C) At breakeven point, NSR is more than the total production cost
Description : aAfter gross profit is calculated, operating expenses are deducted to determine a. gross margin. b. operating income. c. gross profit on sales. d. net margin.
Last Answer : b. operating income.
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 : Deepak, Ashwani and Tarun jointly promised to pay ` 90,000 to Pradeep. Deepak was compelled by Pradeep to pay the entire amount of ` 90,000. Here: A. Deepak can file a suit against Pradeep for ... to Deepak. D. Pradeep is not justified here and is liable to refund the entire amount to Deepak.
Last Answer : B. Deepak is entitled to recover ` 30,000 each from Ashwani and Tarun
Description : In case of void agreements, collateral transactions are A. Also void B. Unenforceable C. Not affected D. Illegal
Last Answer : A. Also void
Description : When channel members assume responsibility for one or more of the marketing flows over at least two separate levels of distribution manufacturing and wholesaling, in fact, such systems are synonymous ... vertical marketing systems C. Administered vertical marketing systems D. None of the above
Last Answer : A. Corporate vertical marketing systems
Description : Transfer payments include : (1) Gifts received from a friend (2) rent free accommodation by the employer (3) net factor income from abroad (4) Employee's contribution to social security
Last Answer : (4) Employee's contribution to social security Explanation: A transfer payment is a oneway payment of money for which no money, good, or service is received in exchange. Governments ... payments include welfare (financial aid), social security, and government making subsidies for certain businesses
Last Answer : Employee's contribution to social security
Description : Which state of India is known as 'Tiger State'? A. Gujarat B. West Bengal C. Madhya Pradesh D. Assam
Last Answer : C. Madhya Pradesh
Description : The historic convention on Biological Diversity held in Rio de Janeiro in 1992 is known as: A. CITES Convention B. The Earth Summit C. G-16 Summit D. MAB Programme
Last Answer : B. The Earth Summit