Administrator

3177. In respect of nomination, which of the following statements are correct?

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More than one person can be nominated
Nomination can be done either at the time of commencement or later
Nomination can be changed by making an endorsement
All of the above
✅ The correct answer is D.
All the above statements regarding nomination are true.
More than one person can be nominated, Nomination can be done either at the time of commencement or later and Nomination can be changed by making an endorsement.

3179. Which of the following funds provides for predominant investment in equities?

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Equity fund
Debt fund
Balanced fund
Money market fund
✅ The correct answer is A.
Equity fund provides for predominant investment in equities. An equity fund is a fund that invests in stocks, also called equity securities. Equity funds are practical investments for most people. The attributes that make equity funds most suitable for small individual investors are the reduction of risk.

3154. Corporate associations who have common bonds being employees of same firm are classified as

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credit unions
debit unions
preferred unions
solving unions
✅ The correct answer is A.
Corporate associations who have common bonds being employees of same firm are classified as credit unions. A credit union is a type of financial cooperative that provides traditional banking services.

3155. In income statement of merchandising costs, period cost includes all costs which are not related to

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cost of resale goods
cost of manufacturing goods
timed resale of goods
cost of purchased goods
✅ The correct answer is D.
In income statement of merchandising costs, period cost includes all costs which are not related to cost of purchased goods. The cost of goods purchased is the net cost of merchandise acquired.

302. The basic consideration(s) in distinction between capital and revenue expenditure is/are

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Nature of business
Effect on revenue generating capacity of the business
Purpose of expenses
All of the above
✅ The correct answer is D.
The basic considerations in distinction between capital and revenue expenditure are Nature of business, Effect on revenue generating capacity of the business and Purpose of expenses.