Acid test is the same as
(a) Quick test
(b) Liquid test
(c) None of these
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Accounting
Audit and special audit are the same:
(a) In Insurance Company
(b) In Banking Company
(c) None of these
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An endowment insurance policy can be taken in respect of
(a) Fire insurance
(b) Accident insurance
(c) Life insurance
(d) None of these
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M & A stands for:
(a) Mergers & Analysis
(b) Mergers & Acquisitions
(c) Mergers & Allocation
(d) None of these
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Increase in income constitutes:
(a) Inflows
(b) Outflows
(c) None of these
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Expenditure incurred in procuring machinery is
(a) An admissible expenditure for tax purposes
(b) No admissible for tax purposes
(c) None of these
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Random sampling in auditing means
(a) Selection through convenience sampling
(b) Selection through scientific sampling approach
(c) None of these
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The latest computation of variances of manufacturing overheads is in one the following ways
(a) Two variance approaches
(b) Three variance approaches
(c) Four variance approaches
(d) None of these
Process Cost is very much applicable in
(a) Construction Industry
(b) Pharmaceutical Industry
(c) Air line company
(d) None of these
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Prime cost is calculated as under
(a) Manufacturing Cost/Cost of Goods Sold
(b) Direct Method plus factory overheads
(c) Direct labour + Direct Material
(d) None of these
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