1003. Flexible budget amount is added to flexible budget variance to calculate

by
static result
actual result
secondary result
primary result
✅ The correct answer is B.
Flexible budget amount is added to flexible budget variance to calculate actual result. A flexible budget, also called a variable budget, is financial plan of estimated revenues and expenses based on the current actual amount of output.

1001. Partial or completed units of manufactured goods, that do not meet customer specifications and get sold at reduced price or simply discarded, are called

by
spoilage
rework
scrap
equivalence
✅ The correct answer is A.
Partial or completed units of manufactured goods, that do not meet customer specifications and get sold at reduced price or simply discarded, are called spoilage. Spoilage is waste or scrap that occurs during the manufacturing process.

88. Which of the following capital is required for the registration of the company?

by
Issued capital
Subscribed capital
Authorized capital
Reserve capital
✅ The correct answer is C.
Authorized capital is required for the registration of the company. The authorized capital of a company (sometimes referred to as the authorized share capital, registered capital or nominal capital, particularly in the United States) is the maximum amount of share capital that the company is authorized by its constitutional documents to issue (allocate) to shareholders.

87. An increase in the value of fixed asset is referred to as:

by
Depreciation
Appreciation
Market capitalization
Reverse depreciation
✅ The correct answer is B.
An increase in the value of fixed asset is referred to as Appreciation. Appreciation, in general terms, is an increase in the value of an asset over time. The increase can occur for a number of reasons, including increased demand or weakening supply, or as a result of changes in inflation or interest rates.

997. What is lien?

by
An underwriting decision where increased death benefit would be payable
An underwriting decision where decreased death benefit would be payable
A decision which does not alter the death benefit
None of the three
✅ The correct answer is B.
A lien is a legal right granted by the owner of property, by a law or otherwise acquired by a creditor. A lien serves to guarantee an underlying obligation, such as the repayment of a loan. If the underlying obligation is not satisfied, the creditor may be able to seize the asset that is the subject of the lien. A lien is an underwriting decision where decreased death benefit would be payable.

996. If market interest rate rises above coupon rate then bond will be sold

by
equal to return rate
seasoned price
below its par value
above its par value
✅ The correct answer is C.
If market interest rate rises above coupon rate then bond will be sold below its par value. Once a bond is issued the issuing corporation must pay to the bondholders the bond’s stated interest for the life of the bond.