Q.35 _______ refers to the system of cost accounting under which costs are determined in advance on the basis of pre-determined standards.Ans A. Standard costingB. Budgetary controlC. Marginal costingD. Absorption costingCorrect Ans Provided: A
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Q.41 Calculate the cash breakeven point in units from the following particulars: Selling price per unit ₹10Variable cost per unit ₹6Fixed costs ₹5,000Fixed costs include ₹2,000 as depreciation, 50% of which has been taken as variable ...
Q.39 Children Education Allowance is exempted up to:Ans A. 200 per month per child up to a maximum of two childrenB. 200 per month up to a maximum of one childC. 100 per month up to a maximum ...
Q.2 The process of computation of income under the head ‘Income from house property’ starts with the determination of annual value of the property and the concept of annual value and the method of determination is laid down ...
Q.16 Which of the following is the Accounting Standard for Depreciation Accounting?Ans A. AS-3B. AS-6C. AS-10D. AS-13Correct Ans Provided: B
Q.56 Which of the following statements is NOT true?Ans A. A share warrant is issued only when shares are fully paid, whereas share certificate can be issued even when shares are partly paid.B. A share warrant is not ...
Q.49 _______ is employed in industries where work is undertaken against the specific order from the customer.Ans A. Contract costingB. Job costingC. Process costingD. Batch costingCorrect Ans Provided: B
Q.24 Total fixed costs are ₹20,000 and there are 4 products having a total sales value of ₹1,00,000 and total variable costs of ₹60,000. Calculate the composite break-even point.Ans A. ₹1,00,000B. ₹40,000C. ₹60,000D. ₹50,000Correct Ans Provided: D
Q.1 The income chargeable under the head ‘Salaries’ is computed after making which of the following deductions? I. Standard Deduction II. Entertainment Allowances III. Professional TaxAns A. Only II and IIIB. I, II and IIIC. Only ...
Q.34 In case of a foreign company, when the total income exceeds ₹1 crore but does not exceed ₹10 crore, surcharge is payable at the rate of _______.Ans A. 3%B. 5%C. 4%D. 2%Correct Ans Provided: D
