678. Hybrid costing system, which is applied to batches of similar products, but are not identical is classified as

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incremental costing system
split off costing system
inventoriable costing system
operation costing system
✅ The correct answer is D.
Hybrid costing system, which is applied to batches of similar products, but are not identical is classified as operation costing system. Operation costing, also known as service costing, is a costing method that combines process costing and job costing.

64. Difference of total of debit and credit side of the trial balance is transferred to

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Suspense A/c
Difference A/c
P & L A/c
Trading A/c
✅ The correct answer is A.
Difference of total of debit and credit side of the trial balance is transferred to Suspense A/c. Suspense accounts are used when your trial balance is out of balance or when you have an unidentified transaction. The suspense account is a general ledger account that acts as a holding account until the error is discovered or the unknown transaction is identified.

673. Which is true of Current Money method of dividend payment?

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Returns depend on when the investment was made
Different investment blocks get different returns
It is also called segmented or investment block method
All of the above
✅ The correct answer is D.
All the above are true regarding current money method of dividend payment.
Returns depend on when the investment was made, Different investment blocks get different returns and It is also called segmented or investment block method.

671. Which of the below policy can provide protection to home loan borrowers?

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Life Insurance
Disability Insurance
Mortgage Redemption Insurance
General Insurance
✅ The correct answer is C.
Mortgage Redemption Insurance (MRI) is an insurance policy that provides financial protection for home loan borrowers. It is basically a decreasing term life insurance policy taken by a mortgagor to repay the balance on a mortgage loan if he/she dies before its full repayment.