193. Those cost which is incurred to prevent the labour turnover __________.

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A) management cost
B) replacement cost
C) preventive cost
D) compensation cost
✅ ANSWER: C
Those cost which is incurred to prevent the labour turnover is known as preventive cost. These are costs which are incurred to prevent excessive labour turnover. The aim of these costs is to keep the workers satisfied so that they may not leave the factory.

191. System which measures budget, action and plan of each responsibility center is known as

by
A) budgeted accounting
B) action accounting
C) planned accounting
D) responsibility accounting
✅ ANSWER: D
System which measures budget, action and plan of each responsibility center is known as responsibility accounting. Responsibility Accounting is a system of control where responsibility is assigned for the control of costs. The persons are made responsible for the control of costs.

189. The minimum wage is an example of

by
A) Price floor
B) Price ceiling
C) Equilibrium wage
D) Efficiency of labour
✅ ANSWER: A
The minimum wage is an example of Price floor. A price floor is the absolute minimum price at which a good or service (labor in this case) can be sold and it is usually set by the government. Price floors are set above the market equilibrium price of a good or service.

181. What is the meaning of the term non-medical underwriting?

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A) Taking health insurance
B) Buying a medical insurance without medical exam
C) Buying a life insurance without medical exam
D) None of the three
✅ ANSWER: C
Buying a life insurance without medical exam is the meaning of the term non-medical underwriting. No medical exam life insurance policies are term life insurance policies, often with a relatively low face value. You can obtain term life insurance quotes for no exam coverage with no medical exam and perhaps only a few medical questions. Your premiums may be higher based on your answers.

178. Which portal business model best describes Yahoo?

by
A) general purpose portal
B) affinity group based vertical market
C) focused content based vertical market
D) none of the above
✅ ANSWER: A
General purpose portal business model best describes Yahoo. Yahoo! is an Internet portal that incorporates a search engine and a directory of World Wide Web sites organized in a hierarchy of topic categories.

175. Which of the following statements is incorrect in case of a non-medical case?

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A) In a non-medical case, risk cannot be assessed in the absence of medical report
B) Risk assessment is possible in a non-medical proposal
C) More than 90% of people who submit proposals on their lives are accepted at ordinary rates
D) In preferred lives, the level of anticipated mortality is likely to be lower than even standard lives
✅ ANSWER: A
In a non-medical case, risk can be assessed in the absence of a medical report. No medical report is required in a non-medical case.

23. American companies prepare their financial statement in Dollars whereas Japanese companies produce financial statement in Yen. This is an example of:

by
A) Stable monetary unit concept
B) Unit of measurement concept
C) Money value concept
D) Current swap concept
✅ ANSWER: B
American companies prepare their financial statement in Dollars whereas Japanese companies produce financial statement in Yen. This is an example of Unit of measurement concept.