In the Union Budget, profits from public sector undertakings are taken under (a) Revenue receipts ; (b) Capital receipts (c) Monetized receipts ; (d) Planned expenditure

In the Union Budget, profits from public sector undertakings are taken under (a) Revenue receipts ; (b) Capital receipts (c) Monetized receipts ; (d) Planned expenditure
by

1 Answer

Answer :

(a) Revenue receipts
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A levy of excise duty on consumption of an item consumed will …………….. (a) Induce suppliers to pump in more quantity in the market; (b) Result in fall in the consumption of the commodity and lower total expenditure on it by the consumer ; (c) Lead to inflationary conditions ; (d) Place the consumer on lower indifference curve

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Which of the following methods is/are used for measuring national income? (a) Output method ; (b) Expenditure method ; (c) Income method ; (d) All of (a), (b) and (c) above.

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The …………………………….. measurement method of national income aggregates all the money spent by private citizens, firms and the government within the year. (a) Expenditure ;(b) Income ; (c) Input ; (e) Saving

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What is meant by income and expenditure in the current sector in the budget ?

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Total profit of a firm in a perfect competitive market is – (a) Total revenue less total cost ; (b) Marginal revenue less marginal cost; (c) Total revenue less marginal cost ; (d) Total revenue less variable cost

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What will happen if a firm in perfect competitive market, increase its output by 50% (a)Total sales revenue will also increase by 50% ; (b) (b)Selling price will come down by 50%; (c)Total sales revenue will decrease by 50% ; (d)Profit will increase by 25%

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Average Revenue of a monopolist firm is (a) Always more than the Marginal revenue ; (b) Always less than the Marginal revenue; (c) Equal to marginal revenue ; (d) Any of the above three possible

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For a monopoly firm market demand curve is (a) Marginal revenue curve itself ; (b) Average Revenue curve itself ; (c) Marginal cost curve (d) None

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Which of the following statement is true (a) In perfect competition Average and Marginal revenue are identical (b) In perfect competition Average and Marginal cost are identical (c) In perfect competition Average price and Marginal cost are identical (d) In perfect competition only normal profit can be earned by a firm

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A Monopoly‟s demand curve is (a) Same as its average revenue curve ; (b) Same as its supply curve; (c) Same as its cost curve ; (d) Same as that of the factor inputs

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Last Answer : (a) Same as its average revenue curve ;

A competitive firm maximizes its total profit when ……………… (a) Average cost equal average realization ; (b) Marginal cost equals Price; (d) Total revenue is the maximum ; (d) MR = AR

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Last Answer : (d) Total revenue is the maximum ;

Breakeven point refers to the situation when (a) Total revenue is equal to total cost ; (b) Total revenue is more than total cost (c) Total revenue is less than total cost ; (d) Total revenue is equal to total variable cost

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Last Answer : (a) Total revenue is equal to total cost ;

If in question No. 286 the price is reduced to `9 But the demand goes to 26 units what is the marginal revenue from sale of 26th unit (a) `7.4 ; (b) `(-16) ; (c) `16 ; (d) `257.4

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Last Answer :  (b) `(-16) ;

The demand for a product is 25 units when the price is `10, however the demand rises to 26 when the price is reduced to `9.9 per unit. The marginal revenue from production and sale of additional unit from 25 to 26 is (a) `7.4 ; (b) `(16) ; (c) `10 ; (d) `257.6

Description : The demand for a product is 25 units when the price is `10, however the demand rises to 26 when the price is reduced to `9.9 per unit. The marginal revenue from production and sale of additional unit from 25 to 26 is (a) `7.4 ; (b) `(16) ; (c) `10 ; (d) `257.6

Last Answer : (a) `7.4 ;

An increase in price will result in no change in total revenue if (a) Percentage change in price equal the percentage change in price (b) Percentage change in demanded is more than the percentage change in price (c) Percentage change in price is less than percentage change in demand (d) Change in price is more than change in demand in absolute terms

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Last Answer : (a) Percentage change in price equal the percentage change in price 

An increase in price will result in an increase in total revenue if (a) Percentage change in quantity demanded in greater than the percentage change in price (b) Percentage change in quantity demanded is less than the percentage change in price (c) Percentage change in quantity demanded is equal to the percentage change in price (d) None

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Last Answer : (b) Percentage change in quantity demanded is less than the percentage change in price  

A decrease in price will result in an increase in total revenue if (a) Percentage change in quantity demanded in greater than the percentage change in price (b) Percentage change in quantity demanded is less than the percentage change in price (c) Percentage change in quantity demanded is equal to the percentage change in price (d) None

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Last Answer : (a) Percentage change in quantity demanded in greater than the percentage change in price 

GDP at market price exceeds GDP at factor cost by the amount of revenue raised through ………………. (a) Direct taxes ; (b) Indirect taxes ; (c) Income tax ; (d) Tax on rents

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Warning signs that cause the auditor to question management integrity must be taken seriously and pursued vigorously. Which of the following may lead the auditor to suspect management dishonesty? a. The client has been named as a defendant in a product liability suit. b. The client has experienced a decrease in revenue from increased import competition. c. A new statutory regulation making customer licenses more difficult to obtain may adversely affect the client's operations. d. The president and chief executive officer of the client corporation has held numerous meetings with the controller for the purpose of discussing accounting practices that will maximize reported profits

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Price elasticity of demand of a product will be more inelastic if (a) It forms a major part of consumer house hold budget; (b) It forms a very small part of consumers household budget; (c) It is inferior ; (d) It is for mass consumption

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