1453. In normal costing, budgeted rate is multiplied to an actual quantity, which have been used as allocation base to calculate

by
budget overhead applied
manufacturing overhead applied
labour overhead applied
none of above
✅ The correct answer is B.
In normal costing, budgeted rate is multiplied to an actual quantity, which have been used as allocation base to calculate manufacturing overhead applied.

1433. Normal profit is called normal because

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It is neither very high nor very low
It is minimum acceptable to the producer
It is minimum which buyer wants to pay
It is the maximum allowed by government
✅ The correct answer is B.
Normal profit is called normal because It is minimum acceptable to the producer. Normal profit is a situation where a firm makes sufficient revenue to cover its total costs and remain competitive in an industry.

1431. Calculation of product cost, gathering information for planning and analyzing information for decisions making are features of

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information accounting
cost accounting
analyzing accounts
marketing costs
✅ The correct answer is B.
Calculation of product cost, gathering information for planning and analyzing information for decisions making are features of cost accounting. Cost accounting is an accounting method that aims to capture a company’s costs of production by assessing the input costs of each step of production as well as fixed costs, such as depreciation of capital equipment.

1429. Type of partnership in which liabilities are limited for business owners is classified as

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unlimited partnership
limited partnership
joint corporate
joint venture
✅ The correct answer is B.
Type of partnership in which liabilities are limited for business owners is classified as limited partnership. A limited partnership (LP) not to be confused with a limited liability partnership exists when two or more partners unite to conduct a business in which one or more of the partners is liable only up to the amount of their investment.

1427. The optimum point is an _________ size of a firm.

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Ideal
Average
Over
Extra
✅ The correct answer is A.
The optimum point is an Ideal size of a firm. The optimum firm refers to the best or ideal size of the firm. More specifically optimum or best firm is considered as one that has set up a plant with lowest possible cost and is also operating it at its lowest average cost point.

1424. When is an insurance company put to real test?

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At the point of accepting proposal
At the time of payment of claim
At the time of deciding sum insured
At the time of announcement of bonuses
✅ The correct answer is D.
An insurance company put is to real test at the time of announcement of bonuses. Bonus refers to an extra amount of money one receives in addition to the base amount. The same concept also holds true with bonuses payable in a life insurance policy.

1423. In financial planning, formula MAX [current price of stock-strike price, 0] is used to calculate

by
option return rate
exercise value
option value
stock value
✅ The correct answer is B.
In financial planning, formula MAX [current price of stock-strike price, 0] is used to calculate exercise value. The exercise value is the value that an option buyer will get from the option on exercising it.