Author name: Administrator

65. Interest on debentures is calculated on

Purchase value of debentures
Market value of debentures
Face value of debentures
All of the above
✅ The correct answer is C.
Interest on debentures is calculated on Face value of debentures. This interest amount is paid periodically, generally yearly or half-yearly. The interest is a charge against the profit of the company.

685. A member of a company is __________.

Promoter
Registered shareholder
Director
Broker
✅ The correct answer is B.
A member of a company is Registered shareholder. A shareholder is a person who buys and holds shares in a company having a share capital. They become a member once their name is entered on the register of members.

689. Firm’s promise to pay and is backed or guaranteed by bank is classified as

customer’s acceptance
banker’s acceptance
federal acceptance
treasury acceptance
✅ The correct answer is B.
Firm’s promise to pay and is backed or guaranteed by bank is classified as banker’s acceptance. A banker’s acceptance (BA) is a short-term debt instrument issued by a company that is guaranteed by a commercial bank. Banker’s acceptances are issued as part of a commercial transaction.

691. Income elasticity of demand for normal goods is always

1
Negative
More than 1
Positive
✅ The correct answer is D.
Income elasticity of demand for normal goods is always Positive. A positive income elasticity of demand is associated with normal goods; an increase in income will lead to a rise in demand.

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

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.

662. Discretionary income is not maximised by

Debt restructuring
Transfer of loans
Restructuring of investment
Purchase of insurance policy
✅ The correct answer is D.
Discretionary income is not maximised by purchase of insurance policy. Some people use credit cards to purchase discretionary goods, but increasing personal debt is not the same as having discretionary income.
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