Total overheads incurred for running a canteen is re-apportioned among production Departments on what basis:
A. Floor area
B. Equitable
C. No. of employees (Correct)
D. Value of Plant
Accumulated profit is shown as a liability in the balance sheet. Which accounting concept is behind such a treatment?
A. Going concern
B. Business entity (Correct)
C. Accrual
D. Accounting period
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
Which of the following Accounting Standards relates to accounting for fixed assets ? (in India)
(A) AS 3
(B) AS 10
(C) AS 14
(D) AS 16
Answer.B
In which costing system future costs are considered and expressed in present-day value by applying discount rate?
A. Life Cycle Costing (Correct)
B. ABC (Activity Based Costing
C. Absorption Costing
D. Standard Costing
Which of the following is not the example of business-to-consumer (B to C) e-commerce?
A) Amazon.com
B) e-bay.com (Correct)
C) dell.com
D) lastminute.com
A large amount spent on special advertisement is–
(A) Capital Expenditure
(B) Revenue Expenditure
(C) Revenue Loss
(D) Deferred Revenue Expenditure
Answer: Deferred Revenue Expenditure