All actual expenses in cash and kind incurred in production by owner operator

All actual expenses in cash and kind incurred in production by owner operator
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While Computing the actual cost of any asset falling within a block, direct cost attributable to bring the asset to its present location and working condition for its intended use(i.e. expenses incurred for acquiring the asset e.g. freight, insurance, etc.) a) Be added to the purchase price b) Be subtracted from the purchase price c) Be subtracted from WDV d) Be claimed as revenue expenditure

Description : While Computing the actual cost of any asset falling within a block, direct cost attributable to bring the asset to its present location and working condition for its intended use(i.e. expenses incurred ... from the purchase price c) Be subtracted from WDV d) Be claimed as revenue expenditure

Last Answer : b) Be subtracted from the purchase price

Opportunity cost of production of a commodity is - (1) the cost that the firm could have Incurred when a different technique was adopted (2) the cost that the firm could have incurred under a different method of production (3) the actual cost incurred (4) the next best alternative output

Description : Opportunity cost of production of a commodity is - (1) the cost that the firm could have Incurred when a different technique was adopted (2) the cost that the firm could have incurred under a different method of production (3) the actual cost incurred (4) the next best alternative output

Last Answer : (4) the next best alternative output Explanation: The concept of opportunity cost is based on scar-city and choice. The opportunity cost of a commodity is the next best alternative commodity ... to produce alternative goods and services. If one commodity is produced another commodity is sacrificed.

Opportunity cost of production of a commodity is (1) the cost that the firm could have incurred when a different technique was adopted (2) the cost that the firm could have incurred under a different method of production (3) the actual cost incurred (4) the next best alternative output

Description : Opportunity cost of production of a commodity is (1) the cost that the firm could have incurred when a different technique was adopted (2) the cost that the firm could have incurred under a different method of production (3) the actual cost incurred (4) the next best alternative output

Last Answer : the next best alternative output

Can you get a tax write-off for moving expenses incurred for moving to a new state because of a new job opportunity that you took?

Description : Can you get a tax write-off for moving expenses incurred for moving to a new state because of a new job opportunity that you took?

Last Answer : It’s a work expense so I wouldn’t see why not. Document everything and save all your receipts.

The endorser expresses that he/she would not be liable for any expenses incurred by endorsee or any holder, in case of dishonour of the instrument the endorsement is called __________ A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Sans recourse Endorsement

Description : The endorser expresses that he/she would not be liable for any expenses incurred by endorsee or any holder, in case of dishonour of the instrument the endorsement is called ... Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Sans recourse Endorsement

Last Answer : E. Sans recourse Endorsement Explanation: The endorser expresses that he would not be liable for any expenses incurred by endorsee or any holder, in case of dishonour of the instrument the endorsement is called Sans recourse Endorsement.

Ashwin purchased a second hand machine for Rs.1 lakh. Over the first year after its purchase. He incurred an expense of Rs.20000 in maintaining it. At the end of the first year he sold it for Rs.80000. Find his profit/loss percentage. If 25% of the total cost price (i.e., purchased price + expenses) is to be deducted on account of depreciation. a)12.5% profit b)12.5% loss c)11 1/9% profit d)11 1/9% loss

Description : Ashwin purchased a second hand machine for Rs.1 lakh. Over the first year after its purchase. He incurred an expense of Rs.20000 in maintaining it. At the end of the first year he sold it for Rs.80000. Find his ... account of depreciation. a)12.5% profit b)12.5% loss c)11 1/9% profit d)11 1/9% loss

Last Answer : d)11 1/9% loss 

A sales invoice is a source document that a. provides support for goods purchased for resale. b. provides evidence of incurred operating expenses. c. provides evidence of credit sales. d. serves only as a customer receipt.

Description : A sales invoice is a source document that a. provides support for goods purchased for resale. b. provides evidence of incurred operating expenses. c. provides evidence of credit sales. d. serves only as a customer receipt.

Last Answer : c. provides evidence of credit sales.

Which of the following cannot be treated as revenue expenditure? A. Cost of goods purchased for resale. B. Wages paid for the erection of plant and machinery. C. Obsolescence cost. D. Expenses incurred by way of repairs of existing assets which do not in any way add to their earning capacity.

Description : Which of the following cannot be treated as revenue expenditure? A. Cost of goods purchased for resale. B. Wages paid for the erection of plant and machinery. C. Obsolescence cost. D. Expenses incurred by way of repairs of existing assets which do not in any way add to their earning capacity.

Last Answer : B. Wages paid for the erection of plant and machinery.

Which of the following is not deferred revenue expenditure? A. Heavy advertisement expenditure. B. Expenses incurred in removing the business to more convenient premises. C. Preliminary expenses. D. Depreciation on fixed assets.

Description : Which of the following is not deferred revenue expenditure? A. Heavy advertisement expenditure. B. Expenses incurred in removing the business to more convenient premises. C. Preliminary expenses. D. Depreciation on fixed assets.

Last Answer : D. Depreciation on fixed assets.

Cost of inventories includes A. Direct Material + Direct Expenses B. Direct Labour + Direct Expenses C. All costs of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition D. Direct material only

Description : Cost of inventories includes A. Direct Material + Direct Expenses B. Direct Labour + Direct Expenses C. All costs of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition D. Direct material only

Last Answer : C. All costs of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition

The expenses incurred on the setting up of the enterprise are called as _________. A. Cost of financing. B. Cost of promotion.. C. Cost of fixed assets. D. Cost of current assets.

Description : The expenses incurred on the setting up of the enterprise are called as _________. A. Cost of financing. B. Cost of promotion.. C. Cost of fixed assets. D. Cost of current assets.

Last Answer : B. Cost of promotion..

Sale of products from test run before production run is a) Deducted from actual cost b) Added to actual cost of assets c) Charged as pre-profits d) Charged as preliminary expenses

Description : Sale of products from test run before production run is a) Deducted from actual cost b) Added to actual cost of assets c) Charged as pre-profits d) Charged as preliminary expenses

Last Answer : a) Deducted from actual cost

The total cost of production which includes all cost items, actual as well as imputed.

Description : The total cost of production which includes all cost items, actual as well as imputed.

Last Answer : Ans. Cost C

How to Find Owner-Operator Trucking Jobs?

Description : How to Find Owner-Operator Trucking Jobs?

Last Answer : Becoming an owner-operator of your own trucking company can beexciting. You buy your own truck, set your own hours and becomeyour own boss. You can even start a fleet and hire your owndrivers. ... from working with companies before you venture out tostart your own business can be the best thing you'

Where do i find owner operator trucking jobs?

Description : Where do i find owner operator trucking jobs?

Last Answer : Simply contact a number of trucking companies in your area. There are a variety of trucking companies that are hiring for positions throughout the US currently.

How do I become an owner or operator of a trucking company?

Description : How do I become an owner or operator of a trucking company?

Last Answer : Anyone can start a trucking company. You just have to be able to buy the supplies, hire truckers, find jobs, and take the time to make the company run well and be productive. You can also ... company off another person. You can become an operator of a trucking company by applying to the company.

I am an owner operator of my own truck, are there any trucking jobs on the east coast for someone like me?

Description : I am an owner operator of my own truck, are there any trucking jobs on the east coast for someone like me?

Last Answer : Have a look at www.bigrigjobs.com. You should be able to find some trucking jobs on the east coast.

Where can I find owner operator trucking jobs?

Description : Where can I find owner operator trucking jobs?

Last Answer : You should visit www.owneroperatorjob.com for a listing of jobs in your area.

Are owner operator trucking jobs hard to complete?

Description : Are owner operator trucking jobs hard to complete?

Last Answer : You need a CDL. the jobs are the same as any, to deliver a load. They are harder to get and the costs are much higher than driving for a company.

What are some owner operator jobs i can get?

Description : What are some owner operator jobs i can get?

Last Answer : Find trucking owner operators jobs at the # 1 source for owner operator jobs. Independent contractors can find driving jobs with better trucking companies all ...

Who has the final authority as to the disposition of the aircraft? a. The State b. The Operator c. The Commander d. The Owner

Description : Who has the final authority as to the disposition of the aircraft? a. The State b. The Operator c. The Commander d. The Owner

Last Answer : c. The Commander

The person having overall responsibility of an aircraft during flight is the: a. Pilot in command b. Operator c. ATC controller if the aircraft is in controlled airspace d. Owner of the aircraft

Description : The person having overall responsibility of an aircraft during flight is the: a. Pilot in command b. Operator c. ATC controller if the aircraft is in controlled airspace d. Owner of the aircraft

Last Answer : a. Pilot in command

Who has the final authority as to the disposition of the aircraft? a. The State b. The Operator c. The Commander d. The Owner

Description : Who has the final authority as to the disposition of the aircraft? a. The State b. The Operator c. The Commander d. The Owner

Last Answer : c. The Commander

The person having overall responsibility of an aircraft during flight is the: a. Pilot in command b. Operator c. ATC controller if the aircraft is in controlled airspace d. Owner of the aircraft

Description : The person having overall responsibility of an aircraft during flight is the: a. Pilot in command b. Operator c. ATC controller if the aircraft is in controlled airspace d. Owner of the aircraft

Last Answer : a. Pilot in command

Business question: When you buy into a business and become a partner, are you also buying the previous expenses/losses of the sole owner?

Description : Business question: When you buy into a business and become a partner, are you also buying the previous expenses/losses of the sole owner?

Last Answer : Your friend NEEDS a lawyer. That will make due diligence a lot easier.

Amount withdrawn by the owner for his personal expenses is called __________  (a) Drawings  (b) Personal expenses  (c) Cash  (d) Assets

Description : Amount withdrawn by the owner for his personal expenses is called __________  (a) Drawings  (b) Personal expenses  (c) Cash  (d) Assets

Last Answer : Amount withdrawn by the owner for his personal expenses is called __________ (a) Drawings (b) Personal expenses (c) Cash (d) Assets

Selling cost means: (1) Cost of selling a product (2) Cost incurred in transportation (3) Cost Incurred in advertisement (4) Cost Incurred on fact ors of production

Description : Selling cost means: (1) Cost of selling a product (2) Cost incurred in transportation (3) Cost Incurred in advertisement (4) Cost Incurred on fact ors of production

Last Answer : (3) Cost Incurred in advertisement Explanation: Selling cost is total cost of marketing, advertising, and selling a product. It differs from the production cost which is incurred to produce goods. Selling cost influences the commercial desire to purchase a commodity.

)Quality costs include : 1. the total of all costs incurred to assure the production and delivery of acceptable products and services. 2. Only costs classified as prevention, detection and corrective action. 3. Only the cost of scrap, rework due to defects, customer returns and warranty costs. 4. The expense of upper management

Description : )Quality costs include : 1. the total of all costs incurred to assure the production and delivery of acceptable products and services.  2. Only costs classified as prevention, detection and ... rework due to defects, customer returns and warranty costs.  4. The expense of upper management

Last Answer : 1. the total of all costs incurred to assure the production and delivery of acceptable products and services.

Which is appropriate description of Average Costs? a) The value of opportunities which have been lost by utilizing resources in particular service or health technology. b) The total costs (i.e. all the costs incurred in the delivery of a service) of a health care system divided by the units of production. c) Independent of the number of units of production and include heating, lighting and fixed staffing costs. d) The cost of the consumption of medicines is a good example of variable costs.

Description : Which is appropriate description of Average Costs? a) The value of opportunities which have been lost by utilizing resources in particular service or health technology. b) The total costs (i.e. all the ... costs. d) The cost of the consumption of medicines is a good example of variable costs.

Last Answer : b) The total costs (i.e. all the costs incurred in the delivery of a service) of a health care system divided by the units of production. 

Selling cost means: (1) Cost of selling a product (2) Cost incurred in transportation (3) Cost Incurred in advertisement (4) Cost Incurred on factors of production

Description : Selling cost means: (1) Cost of selling a product (2) Cost incurred in transportation (3) Cost Incurred in advertisement (4) Cost Incurred on factors of production 

Last Answer : Cost Incurred in advertisement

Fair value of Tangible fixed assets acquired in exchange of share shall be at its…………….. a) Actual cost b) Market Price c) Actual cost less expenses of exchange d) Market price less expenses of exchange

Description : Fair value of Tangible fixed assets acquired in exchange of share shall be at its…………….. a) Actual cost b) Market Price c) Actual cost less expenses of exchange d) Market price less expenses of exchange

Last Answer : a) Actual cost

Explicit cost refers to (a) Actual expenses of the firm to purchase or hire input it needed (b) Actual and notional expenses of the firm to purchase or hire input it needed (c) Notional expenses of the firm to purchase or hire input it needed ; (d) All the three

Description : Explicit cost refers to (a) Actual expenses of the firm to purchase or hire input it needed (b) Actual and notional expenses of the firm to purchase or hire input it needed (c) Notional expenses of the firm to purchase or hire input it needed ; (d) All the three

Last Answer : (a) Actual expenses of the firm to purchase or hire input it needed 

Where the asset is received as gift then cost of the asset will be a) Actual cost to previous owner b) Nominal Value c) WDV on date of receipt of gift d) None of the above

Description : Where the asset is received as gift then cost of the asset will be a) Actual cost to previous owner b) Nominal Value c) WDV on date of receipt of gift d) None of the above

Last Answer : c) WDV on date of receipt of gift

What kind of quality cost is incurred when an error is detected in a product prior to shipment? a) Prevention b) Internal Failure c) External Failure d) Appraisal

Description : What kind of quality cost is incurred when an error is detected in a product prior to shipment? a) Prevention b) Internal Failure c) External Failure d) Appraisal

Last Answer : Ans: b

(i) Depreciation is cash expenses.

Description : (i) Depreciation is cash expenses.

Last Answer : Correct the following statement and rewrite the statement : (i) Depreciation is cash expenses. ... v) Depreciation increases the value of an asset.

Income and expenses for the year 2012 are– Fee Received in Cash – Rs.24,000 Accrued Fee – Rs.6,000 Rent for Chamber Paid – Rs.6,000 Outstanding Rent – Rs.2,000 Salary Paid to Staff – Rs.6,000 Miscellaneous Expenses Paid – Rs.200 Salary paid in advance to staff included in the above : Rs. 1,000. What is the income under accrual basis ? (A) Rs. 11,800 (B) Rs. 13,200 (C) Rs. 16,800 (D) Rs. 30,000

Description : Income and expenses for the year 2012 are- Fee Received in Cash - Rs.24,000 Accrued Fee - Rs.6,000 Rent for Chamber Paid - Rs.6,000 Outstanding Rent - Rs.2,000 Salary Paid to Staff - Rs.6,000 Miscellaneous Expenses Paid - Rs. ... basis ? (A) Rs. 11,800 (B) Rs. 13,200 (C) Rs. 16,800 (D) Rs. 30,000

Last Answer : Answer: Rs. 13,200

What is a cash flow table in project management? A. A table portraying inflow of cash in a project B. A table portraying outgoing expenses of a project C. It is the tool that is used to study such cash flows by breaking inflows and outflows down, usually on a monthly basis D. A table portraying debts taken for a project

Description : What is a cash flow table in project management?  A. A table portraying inflow of cash in a project  B. A table portraying outgoing expenses of a project  C. It is the tool that is used ... inflows and  outflows down, usually on a monthly basis  D. A table portraying debts taken for a project

Last Answer : C. It is the tool that is used to study such cash flows by breaking inflows and  outflows down, usually on a monthly basis

Imprest Cash' in Business Terminology means 1. Cash maintained for Sunday expenses 2. Cash maintained for holidays 3. Cash maintained for closure of business 4. Cash maintained for top executive expenses 5. None of these

Description : Imprest Cash' in Business Terminology means 1. Cash maintained for Sunday expenses 2. Cash maintained for holidays 3. Cash maintained for closure of business 4. Cash maintained for top executive expenses 5. None of these

Last Answer : Cash maintained for top executive expenses

In the balance sheet, ending merchandise inventory is reported a. in current assets immediately following accounts receivable. b. in current assets immediately following prepaid expenses. c. in current assets immediately following cash. d. under property, plant, and equipment.

Description : In the balance sheet, ending merchandise inventory is reported a. in current assets immediately following accounts receivable. b. in current assets immediately following prepaid expenses. c. in current assets immediately following cash. d. under property, plant, and equipment.

Last Answer : a. in current assets immediately following accounts receivable.

In terms of liquidity, merchandise inventory is a. more liquid than cash. b. more liquid than accounts receivable. c. more liquid than prepaid expenses. d. less liquid than store equipment.

Description : In terms of liquidity, merchandise inventory is a. more liquid than cash. b. more liquid than accounts receivable. c. more liquid than prepaid expenses. d. less liquid than store equipment.

Last Answer : c. more liquid than prepaid expenses.

What is working capital? a. The funds needed for the day to day running of the company b. The cash on hand at the end of the day c. Profits less current liabilities d. The amount of funds a company needs to run indefinitely e. Total sales less total expenses

Description : What is working capital? a. The funds needed for the day to day running of the company b. The cash on hand at the end of the day c. Profits less current liabilities d. The amount of funds a company needs to run indefinitely e. Total sales less total expenses

Last Answer : a. The funds needed for the day to day running of the company

Which of the following is not a cash outflow? A. Increase in Prepaid expenses B. Increase in debtors C. Increase in stock D. Increase in creditors

Description : Which of the following is not a cash outflow? A. Increase in Prepaid expenses B. Increase in debtors C. Increase in stock D. Increase in creditors

Last Answer : D. Increase in creditors

Cash flows include a) Cash payments only b) Cash receipts only c) Cash receipts and payments d) Cash and noncash incomes and expenses.

Description : Cash flows include a) Cash payments only b) Cash receipts only c) Cash receipts and payments d) Cash and noncash incomes and expenses.

Last Answer : c) Cash receipts and payments

Cash from operations is equal to------------------ a) net profit afer tax b) net profit plus increase in current asset c) net profit plus decrease in current liabilities d) net profit plus non-cash expenses plus decrease in current

Description : Cash from operations is equal to------------------ a) net profit afer tax b) net profit plus increase in current asset c) net profit plus decrease in current liabilities d) net profit plus non-cash expenses plus decrease in current

Last Answer : d) net profit plus non-cash expenses plus decrease in current

Preliminary expenses written off is-------- a) Cash transaction b) Non-cash transaction c) Credit transaction d) None of the above

Description : Preliminary expenses written off is-------- a) Cash transaction b) Non-cash transaction c) Credit transaction d) None of the above

Last Answer : b) Non-cash transaction

Increase in prepaid expenses--------------------cash a) Increases b) Added c) Decreases d) None of these

Description : Increase in prepaid expenses--------------------cash a) Increases b) Added c) Decreases d) None of these

Last Answer : c) Decreases

To arrive at funds from operation ,non-cash expenses must be added to---------- a) Net profit b) Gross profit c) Operating profit d) None of these

Description : To arrive at funds from operation ,non-cash expenses must be added to---------- a) Net profit b) Gross profit c) Operating profit d) None of these

Last Answer : a) Net profit

When a company adjusts price levels so that it can increase sales volume to levels that match the organisation's expenses, it is said to employ a ---- pricing objective. A)market share B)cash flow C)return on investment D)survival E)profit

Description : When a company adjusts price levels so that it can increase sales volume to levels that match the organisation's expenses, it is said to employ a ---- pricing objective. A)market share B)cash flow C)return on investment D)survival E)profit

Last Answer : D)survival

If marketers in an organisation set prices to recover research and development expenses and establish a premium quality image for its product, they have in mind which type of pricing objective? A)Survival B)Return on investment C)Market share D)Product quality E)Cash flow

Description : If marketers in an organisation set prices to recover research and development expenses and establish a premium quality image for its product, they have in mind which type of pricing objective? A)Survival B)Return on investment C)Market share D)Product quality E)Cash flow

Last Answer : D)Product quality