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Cost Accounting

In the case of inferior goods, the consumer

» Fundamentals of Economics solved MCQs /
Question:

In the case of inferior goods, the consumer

A.

purchases less with increase in income

B.

purchases less with decrease in price

C.

purchases more with increase in income

D.

purchases more with decrease in price

Answer» a. purchases less with increase in income

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

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» Fundamentals of Economics solved MCQs

Opportunity cost is measured in terms of the

» Fundamentals of Economics solved MCQs /
Question:

Opportunity cost is measured in terms of the

A.

optional cost that has been avoided

B.

negative cost that has been sacrificed

C.

accounting cost that has been paid

D.

next best alternative that has been foregone

Answer» d. next best alternative that has been foregone

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

Opportunity cost is measured in terms of the Read More »

» Fundamentals of Economics solved MCQs

In a sale of goods, the doctrine of caveat emptor will not apply when there is

» Laws and Ethics solved MCQs /
Question:

In a sale of goods, the doctrine of caveat emptor will not apply when there is

A.

usage of trade

B.

consent by fraud

C.

buyers’ error of judgment

D.

Merchantable Quality

Answer» d. Merchantable Quality

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

In a sale of goods, the doctrine of caveat emptor will not apply when there is Read More »

» Laws and Ethics solved MCQs

The first case ‘doctrine of frustration’ as decided by the Supreme Court of India is

» Laws and Ethics solved MCQs /
Question:

The first case ‘doctrine of frustration’ as decided by the Supreme Court of India is

A.

BasantiBastralaya Vs. River Steam Navigation Co. Ltd.

B.

Raju Dhruv Dev Chand Vs. Raja Harmohinder Singh

C.

Sushila Devi Vs. Hard Singh

D.

Satyabrata Ghosh Vs. Mugneeram

Answer» d. Satyabrata Ghosh Vs. Mugneeram

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

The first case ‘doctrine of frustration’ as decided by the Supreme Court of India is Read More »

» Laws and Ethics solved MCQs