Administrator, Author at GetMCQs

2621. Compelling strategic plan, promoting coordination and providing framework of performance are

advantages of budget

disadvantages of budget

advantages of costing method

disadvantages of costing method

✅ The correct answer is A.
Compelling strategic plan, promoting coordination and providing framework of performance are advantages of budget.

2626. An ISO-product slopes

Downward to the left

Downward to the right

Upward to the left

Upward to the right

✅ The correct answer is B.
An ISO-product slopes downward to the right. They slope downward because MTRS of labour for capital diminishes. When we increase labour, we have to decrease capital to produce a given level of output.

2627. In calculation of net cash flow, deferred tax payments are classified as

non-cash revenues

non-cash charges

current liabilities

income expense

✅ The correct answer is B.
In calculation of net cash flow, deferred tax payments are classified as non-cash charges. A non-cash charge is a write-down or accounting expense that does not involve a cash payment.

2628. Which of the following is NOT a characteristic of perfect competition?

Free entry and exit of the firms

The demand curve of firm is horizontal

The marginal revenue curve is horizontal

An individual firm can influence the price

✅ The correct answer is D.
An individual firm can influence the price is not a characteristic of perfect competition. All goods in a perfectly competitive market are considered perfect substitutes, and the demand curve is perfectly elastic for each of the small, individual firms that participate in the market. These firms are price takers–if one firm tries to raise its price, there would be no demand for that firm’s product.

2629. The application document used for making the proposal is commonly known as the

Application form

Proposal form

Registration form

Subscription form

✅ The correct answer is B.
The application document used for making the proposal is commonly known as the ‘proposal form’.

2630. An example of shrinkage costs is

incoming freight

storage costs

insurance

clerical errors

✅ The correct answer is D.
An example of shrinkage costs is clerical errors. Shrinkage is the loss of inventory that can be attributed to factors such as employee theft, shoplifting, administrative error, vendor fraud, damage in transit or in store, and cashier errors that benefit the customer.

2631. It would be advantageous to go for a family floater rather than non-floater due to the reason that

Higher cover would help any family member in case of high cost treatment

Premiums are considerably lower than where cover is taken for individual members

Both A & B

None of the three

✅ The correct answer is C.
It would be advantageous to go for a family floater rather than non-floater due to the reason that higher cover would help any family member in case of high cost treatment and premiums are considerably lower than where cover is taken for individual members.

2633. A capital intensive enterprise requires __________.

more employees

less employees

male employees

female employees

✅ The correct answer is B.
A capital intensive enterprise requires less employees. Capital intensive refers to business processes or industries that require large amounts of investment to produce a good or service, and therefore have a high percentage of fixed assets (property, plant, and equipment (PP&E)).

2635. Cost of contract and profit or loss thereon are determined by preparing ________.

cost sheet

profit and loss a/c

trading a/c

separate ledger a/c

✅ The correct answer is D.
Cost of contract and profit or loss thereon are determined by preparing separate ledger a/c. A separate contract account is prepared for each contract.

2636. Revival of a policy is not a _________ right of the insured.

Conditional

Unconditional

Legal

Fundamental

✅ The correct answer is B.
Revival of a policy is not a unconditional right of the insured.

Author name: Administrator