A public corporation is set up–
(A) By a Special Act of Parliament
(B) By a special order of the Government
(C) Under Indian Companies Act, 1956
(D) By none of the above
Answer: By a Special Act of Parliament

The product range is widest in case of–
(A) Chain store
(B) Departmental store
(C) Speciality shop
(D) One price shop
Answer: Departmental store

An association of cement manufacturers is an example of–
(A) Diagonal combination
(B) Vertical combination
(C) Horizontal combination
(D) Lateral combination
Answer: Horizontal combination

Bad loans in banking terminology are generally known as–
(A) BPOs
(B) Prime Asset
(C) NPAs
(D) CBS
Answer: NPA’s

Recording of capital contributed by the owner as liability ensures the adherence of principle of–
(A) Consistency
(B) Going concern
(C) Separate entity
(D) Materiality
Answer: Separate entity

Indian Accounting Standard – 28 is related to–
(A) Accounting for taxes on income
(B) Financial Reporting of Interests in Joint Venture
(C) Impairment of Assets
(D) Provisions, Contingent Liabilities and Contingent Assets
Answer: Impairment of Assets

Accounting for Intangible Assets are related to–
(A) AS – 10
(B) AS – 12
(C) AS – 24
(D) AS – 26
Answer: AS – 26

The Doing Business Report” is prepared by which of the following organizations every year?
(A) World Bank
(B) Asian Development Bank (ADB)
(C) International Monetary Fund (IMF)
(D) World Trade Organization (WTO)
Answer: World Bank