Cost Accounting

In a pure monopoly firm a firm can make abnormal profit at the long run equilibrium level due to

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Question:

In a pure monopoly firm a firm can make abnormal profit at the long run equilibrium level due to

A.

Price discrimination

B.

Cost effectiveness

C.

Banned entry of new firms

D.

Sales promotion

Answer» c. Banned entry of new firms

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Holder in due course means any person-

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Question:

Holder in due course means any person-

A.

Drawing the instrument

B.

Who for consideration became the possession of a promissory note

C.

Named in the instrument to whom or to whom order the money is directed to be paid

D.

None of the above.

Answer» b. Who for consideration became the possession of a promissory note

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

“If you contract to sell peas, you cannot oblige a party to have beans” – Thisstatement applies to:

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Question:

“If you contract to sell peas, you cannot oblige a party to have beans” – Thisstatement applies to:

A.

an implied condition as to be description of goods

B.

the implied condition as to fitness of goods for a particular purpose

C.

implied condition as to sample

D.

implied condition as to title

Answer» a. an implied condition as to be description of goods

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Which of the following function does money serve when used to purchase or sell different goods andservices?

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Question:

Which of the following function does money serve when used to purchase or sell different goods andservices?

A.

Store of value

B.

Medium of exchange

C.

Standard of value

D.

Display of power

Answer» b. Medium of exchange

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

The money supply affects the rate of interest; when the money supply increases, rate ofinterest will be decreased. It is explained by _____________

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Question:

The money supply affects the rate of interest; when the money supply increases, rate ofinterest will be decreased. It is explained by _____________

A.

Keynes

B.

Walker

C.

Robbins

D.

Crowther

Answer» a. Keynes

Note: The above multiple-choice question is for all general and Competitive Exams in India.