Description : Expenditure incurred on exempted income is …………. as deduction. A) Fully Allowed B) Partly Allowed C) Not Allowed D) None of these
Last Answer : C) Not Allowed
Description : Mutawalli of the waqf associated with the waqf sacrifice wants to keep the property in the share company so that he can sacrifice from its income ; Would it be fair ?
Last Answer : There is no difficulty in holding waqf property in a stock company which does not transact interest ; If the company is trustworthy and can be sacrificed from the profit. GOD is the bestower
Description : Near a castle without a moat, a well-known queen was captured and held hostage by a dark and powerful enemy force. Several of her loyal servants tried to break through enemy lines to free her ... this well-known queen and the lowly servant who performed the greatest sacrifice to save her? -Riddles
Last Answer : The queen was the white queen, and the servant who was sacrificed was a white pawn who had reached the back row of the black chess pieces—and was subsequently promoted/exchanged for the captured white queen.
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.
Description : Selling cost have to be incurred in case of - (1) Perfect Competition (2) Monopoly (3) Monopolistic Competition (4) None of the given options
Last Answer : (3) Monopolistic Competition Explanation: Selling costs are the expenses on advertisement, salesmanship, free sampling, free service, door-todoor canvassing, and so on. There is no selling problem under ... . They are incurred to persuade a buyer to purchase one product in preference to another.
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.
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.
Description : What is selling cost? (1) Cost incurred on transportation of commodities to market (2) Cost incurred on promoting the sale of the product (3) Cost incurred on commission and salaries personnel (4) Cost incurred on advertisement
Last Answer : (2) Cost incurred on promoting the sale of the product 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.
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.
Description : In corporate costs, cost incurred to finance construction of new equipment are classified as A. treasury costs B. discretionary costs C. human resource management costs D. corporate administration costs
Last Answer : A. treasury costs
Description : Cost incurred towards __________ in a chemical plant is a component of the utilities cost. (A) Water supply (B) Running a control laboratory (C) Property protection (D) Medical services
Last Answer : (A) Water supply
Description : The profit earned after selling a wrist watch for `5080 is the same as the loss incurred after selling the same wrist watch for `4650. What is the cost price of the wrist watch? a) `4685 b) `4875 c) `4695 d) `4785 e) `4865
Last Answer : Cost price of the watch = 5080 + 4650 / 2 = 9730 / 2 = `4865 Answer: e)
Description : The profit earned after selling a Laptop for Rs.1,754/- is the same as loss incurred after selling the article for Rs.1,492/-. What is the cost price of the article? a) Rs. 1,239/- b) Rs. 1,456/- c) Rs. 1,786/- d) Rs. 1,623/- e) Rs. 1,345/-
Last Answer : Let the C.P. of a Laptop = Rs. x 1754 - x = x - 1492 2x = 3246 x = 3246 / 2 = 1623 Answer: d)
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
Description : The profit after selling a pair of trousers for Rs 863 is same as loss incurred after selling the same pair of trousers for Rs 631. What is the cost price of the trousers? 1. Rs7472. Rs 800 3. Rs 763 4. Cannot be determined
Last Answer : 1. Rs7472
Description : The profit earned after selling a wrist watch for Rs 4,080 is the same as the loss incurred after selling the same wrist watch for Rs 3,650. What is the cost price of the wrist watch? 1. Rs 3,785 2. Rs 3,800 3. Rs 3,775 4. Rs 3,865
Last Answer : 3865
Description : Following information is available of PQR for year ended March, 2013: 4,000 units in process, 3,800 units output, 10% of input is normal wastage, Rs. 2.50 per unit is scrap value and Rs. 46,000 incurred towards total process cost ... be:- (a) Rs. 2,500 (b) Rs. 2,000 (c) Rs. 4,000 (d) Rs. 3,500
Last Answer : (a) Rs. 2,500
Description : In case of joint products, the main objective of accounting of the cost is to apportion the joint costs incurred up to the split off point. For cost apportionment one company has chosen Physical Quantity Method. Three joint ... 20,000 (b) Rs. 60,000 (c) Rs. 1,80,000 (d) None of the these
Last Answer : (c) Rs. 1,80,000
Description : The following information is available for the W hotel for the latest thirty day period. Number of rooms available per night 40 Percentage occupancy achieved 65% Room servicing cost incurred Rs. 3900 The room servicing cost per occupied room- ... (a) Rs 3.25 (b) Rs 5.00 (c) Rs 97.50 (d) Rs 150.00
Last Answer : (b) Rs 5.00
Description : Calculate the most appropriate unit cost for a distribution division of a multinational company using the following information. Miles travelled 636,500 Tonnes carried 2,479 Number of drivers 20 Hours worked by drivers 35,520 Tonnes miles ... 800 (a) Rs .88 (b) Rs 1.50 (c) Rs 15.84 (d) Rs28, 140
Last Answer : (d) Rs28, 140
Description : A company calculates the prices of jobs by adding overheads to the prime cost and adding 30% to total costs as a profit margin. Job number Y256 was sold for Rs1690 and incurred overheads of Rs 694. What was the prime cost of the job? (a) Rs 489 (b) Rs 606 (c) Rs 996 (d) Rs 1300
Last Answer : (b) Rs 606
Description : Sunk costs are: (a) relevant for decision making (b) Not relevant for decision making (c) cost to be incurred in future (d) future costs
Last Answer : (b) Not relevant for decision making
Description : Abnormal cost is the cost: (a) Cost normally incurred at a given level of output (b) Cost not normally incurred at a given level of output (c) Cost which is charged to customer (d) Cost which is included in the cost of the productm
Last Answer : (b) Raw material, Finished goods
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.
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
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
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..
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.
Description : The cost incurred in first time reviews and testing is called --------- a) Red money b) Green money c) Blue money
Last Answer : Ans : c
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
Description : Selling cost have to be incurred in case of (1) Perfect Competition (2) Monopoly (3) Monopolistic Competition (4) None of the given options
Last Answer : Monopolistic Competition
Description : What is selling cost ? (1) Cost incurred on transportation of commodities to market (2) Cost incurred on promoting the sale of the product (3) Cost incurred on commission and salaries personnel (4) Cost incurred on advertisement
Last Answer : Cost incurred on promoting the sale of the product
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
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
Description : The opportunity cost of capital investment is (a) Sacrifice of current consumption ; (b) More consumption on luxury items; (c) Lower capital growth in future ; (d) Wastage of Resources
Last Answer : (a) Sacrifice of current consumption
Description : If a kid injures my daughter on the school playground, are his parents liable for any medical charges incurred?
Last Answer : answer:I agree that “time-out only” is bullshit. On the other hand…she really doesn’t need to see a doctor. I’d be at the school tomorrow talking to the principal. Save the pictures.
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.
Description : Expenditure incurred on purchase of fixed asset is ____________
Last Answer : Expenditure incurred on purchase of fixed asset is ____________ (a) Revenue Expenditure (b) ... Deferred Revenue Expenditure (d) None of these
Description : All actual expenses in cash and kind incurred in production by owner operator
Last Answer : Ans. Cost-A
Description : No Government Expenditure can be incurred in India except with the sanction of (1) the Parliament (2) the Prime Minister (3) the President (4) the Supreme Court
Last Answer : (1) the Parliament Explanation: Legislative prerogative over taxation, legislative control over expenditure and executive initiative in financial matters are some of the fundamental principles of the system of ... year, cause to be laid before Parliament, Annual Financial Statement (article 112).
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.
Description : The system of monitoring and control is more effective when, along with the time- frame, there is the linkage between the physical work to be performed in each activity and the financial expenditure to be incurred. (True/False)
Last Answer : Ans. True
Description : When will Pre Audit of Estimates is applicable a . on estimates of work of Government department executed through Civil wing b . The amount incurred for work is very high c Both cases
Last Answer : a . on estimates of work of Government department executed through Civil wing
Description : Special Contingencies can be incurred without the previous sanction of Superior authority The above said statement is -a. True b false
Last Answer : b false
Description : The government employee must submit his claim within -------- for reimbursement of the expenditure incurred on the Journey , if the advance has been drawn for availing LTC a. Three month b. Two month c. One month
Last Answer : c. One month
Description : he pressure drop per unit length of pipe incurred by a fluid 'X' flowing through pipe is Δp. If another fluid 'Y' having both the specific gravity & density just double of that of fluid 'X', flows through the same pipe ... then the pressure drop in this case will be (A) Δp (B) 2Δp (C) Δp 2 (D) Δp/2
Last Answer : (B) 2Δp
Description : For the same terminal conditions and fitting size, the least friction lossis incurred in a/an (A) T-joint (B) Union (C) 45° elbow (D) 90°bend
Last Answer : (B) Union
Description : Selling costs have to be incurred in case of A.Perfect competition B.Monopolistic competition C.Imperfect competition D.None
Last Answer : B.Monopolistic competition
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.
Description : Change in the capital A/c of proprietor may occur due to ______ a) Profit earned b) Loss incurred c) Capital Introduced d)All of theabove
Last Answer : d)All of theabove