Author name: Administrator

55. An informal accounting statement that lists the ledger account balances at a point of time and compares the total of debit balances with the total of credit balances is known as

Income statement
Balance sheet
Trial balance
Cash Book
✅ The correct answer is C.
An informal accounting statement that lists the ledger account balances at a point of time and compares the total of debit balances with the total of credit balances is known as Trial balance. A trial balance is a bookkeeping worksheet in which the balance of all ledgers are compiled into debit and credit account column totals that are equal.

619. Which of the following can easily be compensated thro’ insurance?

Primary burden of risk
Secondary burden of risk
Both A & B
None of the above
✅ The correct answer is A.
Primary burden of risk can easily be compensated thro’ insurance. The primary burden of risk consists of losses that are actually suffered by households (and business units), as a result of pure risk events. These losses are often direct and measurable and can be easily compensated for by insurance.

56. An alternative term used for accumulated depreciation expenses?

Provision for depreciation
Cumulative depreciation
Targeted depreciation
Depletion
✅ The correct answer is A.
Provision for depreciation is an alternative term used for accumulated depreciation expenses. Depreciation expense is recognized on the income statement as a non-cash expense that reduces the company’s net income.

586. rate which is divided by compounding periods to calculate periodic rate must be

annuity return
deferred annuity return
nominal rate
semi-annual discount rate
✅ The correct answer is C.
Rate which is divided by compounding periods to calculate periodic rate must be nominal rate. Nominal interest rate refers to the interest rate before taking inflation into account. Nominal can also refer to the advertised or stated interest rate on a loan, without taking into account any fees or compounding of interest.

588. Differential piece wages means _______.

different wages for different level of performance
different wages for different time consumed
different wages for different level of output
different wages for different types of industries
✅ The correct answer is A.
Differential piece wages means different wages for different level of performance. A differential piece-rate system is a method of wage payment in which after tests have set a standard time for any task assigned the worker gets a high piece rate for completing the job within the allotted time and lower piece rate for completing the job beyond the allotted time.

597. Excess working capital results in ________.

Block of cash
Loosing interests
Lack of production
Lack of smooth flow of production
✅ The correct answer is A.
Excess working capital results in Block of cash. Excess working capital overall, though, is bad because it means that the amount of money available within the company is much more than what it needs for its operations.

600. Markets dealing with residential loans, industry real estate loans, agricultural loans and commercial loans are called

residential markets
mortgage markets
agriculture markets
commercial markets
✅ The correct answer is B.
Markets dealing with residential loans, industry real estate loans, agricultural loans and commercial loans are called mortgage markets. The mortgage market can seem complicated to the uninitiated. The fact is that it is not as complicated as it is ever-changing. Most people have no idea how the market works. By understanding this, you will get a better idea about mortgage programs that are offered by certain lenders. Armed with this new information, you can make an informed decision in your quest for the perfect mortgage.
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