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Basic of Economics

An outside professional conducts an examination of company’s accounting records in order to determine whether the company is maintaining records according to the generally accepted accounting principles. What this examination is called ?

Basic of Economics, Economics Mcqs /
An outside professional conducts an examination of company’s accounting records in order to determine whether the company is maintaining records according to the generally accepted accounting principles. What this examination is called ?

A. Checking
B. Audit
C. Stock-taking
D. Accounting

An outside professional conducts an examination of company’s accounting records in order to determine whether the company is maintaining records according to the generally accepted accounting principles. What this examination is called ? Read More »

Basic of Economics, Economics Mcqs

Estimated value that is added to a product or material to each stage, of its manufacture or distribution, is known as ?

Basic of Economics, Economics Mcqs /
Estimated value that is added to a product or material to each stage, of its manufacture or distribution, is known as ?

A. Value addition
B. Excise
C. Value added
D. Tax on stage

Estimated value that is added to a product or material to each stage, of its manufacture or distribution, is known as ? Read More »

Basic of Economics, Economics Mcqs

The mark is imposed on goods or wrappers to show that the articles bearing this mark belong to a particular trader. What is this mark called ?

Basic of Economics, Economics Mcqs /
The mark is imposed on goods or wrappers to show that the articles bearing this mark belong to a particular trader. What is this mark called ?

A. Insignia
B. Patent mark
C. Trade Mark
D. Identification mark

The mark is imposed on goods or wrappers to show that the articles bearing this mark belong to a particular trader. What is this mark called ? Read More »

Basic of Economics, Economics Mcqs

What is defined as the active management of resources to provide the greatest present benefit without comprising the potential benefits to future generations ?

Basic of Economics, Economics Mcqs /
What is defined as the active management of resources to provide the greatest present benefit without comprising the potential benefits to future generations ?

A. Prudent development
B. Sustainable development
C. Managed economy
D. None of these

What is defined as the active management of resources to provide the greatest present benefit without comprising the potential benefits to future generations ? Read More »

Basic of Economics, Economics Mcqs

When supply exceeds demand, sellers must lower prices to stimulate sales, when demand exceeds supply, prices increase as buyers compete to buy goods. What this theory is called in economics?

Basic of Economics, Economics Mcqs /
When supply exceeds demand, sellers must lower prices to stimulate sales, when demand exceeds supply, prices increase as buyers compete to buy goods. What this theory is called in economics?

A. Cost push theory
B. Supply and Demand theory
C. Fundamental theory
D. Ricardo’s theory

When supply exceeds demand, sellers must lower prices to stimulate sales, when demand exceeds supply, prices increase as buyers compete to buy goods. What this theory is called in economics? Read More »

Basic of Economics, Economics Mcqs