Q.4 Which of the following statements is/are true or false? (i) Under marginal costing, cost of production, work-in-progress and finished stock are valued at product cost.(ii) Under marginal costing, cost of production, work-in-progress and finished stock are valued ...
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Q.45 The output of process X was 2,500 units. The normal loss allowed was 10% of the input. The abnormal loss was 200 units. Calculate the input introduced in the process.Ans A. 2300B. 3000C. 2700D. 2500Correct Ans Provided: B
Q.23 The Section 2(24) of the Income Tax Act defines which of the following?Ans A. PersonB. AssesseeC. IndiaD. IncomeCorrect Ans Provided: D
Q.12 Section ________ requires income chargeable under the head ‘Profits and gains of business or profession’ or ‘Income from other sources’ to be computed in accordance with either the cash or mercantile system of accounting regularly employed by ...
Q.3 In a certain code language, ‘TABLE’ is written as ‘EBCMT’. How will ‘MANGO’ be written in that language?Ans A. OCNIMB. OQBIMC. OBOHMD. OCHIMCorrect Ans Provided: C
Q.74 Calculate basic EPS from the following information: Net profit for year 2022: ₹12,00,000No. of equity shares outstanding: 5,00,000 sharesAns A. 12B. 60C. 2.4D. 5Correct Ans Provided: C
Q.48 ABC Ltd. purchased stock costing ₹20 lakhs in October 2021. 75% of the stock purchased was sold till March 2022. The expected sale value is ₹5,50,000 and a commission Avneesh101% is to be paid to ...
Q.57 Which of the following organisations is/are best suited for job costing? (i) Automobile workshop(ii) Printing work(iii) Furniture manufacturing(iv) Interior decorationAns A. Only (i) and (ii)B. (i), (ii), (iii) and (iv)C. Only (i), (ii) and (iii)D. ...
Q.44 Which of the following statements is/are true or false? (i) The concept of Activity Based Costing was developed by Cooper and Kaplan.(ii) The concept of Activity Based Costing was developed by Marshal and John.Ans A. Both (i) ...
Q.51 Which of the following statement(s) is correct? I. The term assessment year has been defined under Section 2(9).II. Assessment Year means a period of 12 months commencing on 1 April every year.Ans A. Only IIB. Neither I ...
