1179. Costs associated with storage of finished goods such as spoilage, obsolescence and insurance of goods are classified as

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carrying costs
purchasing costs
stock-out costs
ordering costs
✅ The correct answer is A.
Costs associated with storage of finished goods such as spoilage, obsolescence and insurance of goods are classified as carrying costs. Carrying costs are the costs of holding inventory and include maintenance, specifically in regard to perishable items, and storage costs.

1175. When you purchase copyrighted software, what actually are you paying for?

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The cost of the CDs, manuals, and development of the software
The cost of the CDs, manuals, and a share of the cost of the software development
A share of the cost of software development
All of the above
✅ The correct answer is D.
When we purchase copyrighted software, we are actually paying for The cost of the CDs, manuals, and development of the software, The cost of the CDs, manuals, and a share of the cost of the software development and A share of the cost of software development.

1172. In linear cost function, which is y = a + bx, y is classified as

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predicted fixed cost
predicted variable cost
predicted cost
predicted price
✅ The correct answer is C.
In linear cost function, which is y = a + bx, y is classified as predicted cost. It is the estimation of future cost levels based on historical cost behaviour characteristics, using such statistical techniques as linear regression.

1154. Which of the following is NOT true regarding ULIP?

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A unit holder can choose between different kinds of funds
Life insurer provides guarantee for unit values
Units may be purchased by payment of a single premium or by regular premium payments
ULIP policy structure is transparent with regards to the insurance expenses component
✅ The correct answer is B.
ULIP is a life insurance product which provides risk cover for the policy holder along with investment options to invest in any number of qualified investments such as stocks, bonds or mutual funds.

1150. Co-operative societies have _________ management.

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Government
Democratic
Autocratic
Private
✅ The correct answer is B.
Co-operative societies have Democratic management. The society is managed by a group known as “Board of Directors”. The members of the board of directors are the elected representatives of the society. The main purpose of a Co-operative Society is to provide service to its members.