Administrator, Author at GetMCQs

2949. __________ layout is not flexible.

Product

stationary

functional

combined

✅ The correct answer is A.
Product layout is not flexible. It is the disadvantage of product layout.

2950. Under perfect competition

AC=AVC

AR=AC

AR=MC

AR=MR

✅ The correct answer is D.
Under perfect competition AR=MR. If the market price is unaffected by variations in the firm’s output, then the firm’s demand curve, its AR curve and MR curve will coincide in the same horizontal line.

2951. Universal Life Insurance is associated with

Universal Life Insurance is associated with Germany

Universal Life plan was first introduced in the UK

France is the home of universal Life policies

USA is known for introducing such policies

✅ The correct answer is D.
Universal life insurance (often shortened to UL) is a type of cash value life insurance, sold primarily in the United States. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest.

2952. If risk can be eliminated with help of diversification, then relevant risk is

smaller than stand-alone risk

larger than stand-alone risk

smaller than diverse risk

larger than diverse risk

✅ The correct answer is A.
If risk can be eliminated with help of diversification, then relevant risk is smaller than stand-alone risk. Standalone risk measures the dangers associated with a single facet of a company’s operations or by holding a specific asset, such as a closely-held corporations. In portfolio management, standalone risk measures the undiversified risk of an individual asset. Relevant risk is the fluctuation of returns caused by the macroeconomic factors that affect all risky assets.

2953. Department which provides assisting services to internal departments is classified as

supply department

support department

production department

allocation base department

✅ The correct answer is B.
Department which provides assisting services to internal departments is classified as support department.

2954. Who will notify the rate of tax to be levied under CGST?

GST Council suo moto

Central Government suo moto

State Government suo moto

Central Government as per the recommendations of the GST Council

✅ The correct answer is D.

2955. Which function is basis of control?

Planning

Organizing

Controlling

staffing

✅ The correct answer is A.
Planning is basis of control. Planning and controlling are closely related to each other. After a plan becomes operational, control is necessary to measure progress, to uncover deviations from the targets and to take corrective steps.

277. Accounts payable has ____ balance

Credit

Debit

Unfavorable

Favorable

✅ The correct answer is A.
Accounts payable has Credit balance. Since Accounts Payable is a liability account, it should have a credit balance.

2939. If budget sales units are 5000, ending inventory is 4000 units and beginning inventory is 1000, then budget production will be

4000 units

5000 units

8000 units

10000 units

✅ The correct answer is C.
Budget production = Budget sales + Ending inventory – Beginning inventory
= 5000 + 4000 – 1000 = 8000 units.

2941. Partnership may come into existence __________.

by the operation of law

by an express agreement only

by an express or implied agreement only

by inheritance of property

✅ The correct answer is C.
Partnership may come into existence by an express or implied agreement only.

Author name: Administrator