41. An endowment insurance policy can be taken in respect of.?
A. Life insurance
B. Fire insurance
C. Accident insurance
D. None of these
C. Accident insurance
D. None of these
42. Discount for quick repayment of debt is normally referred as
A. Cash discount
B. Trade discount
C. Bulk discount
D. Prompt payment discount
43. Which of the following is the internal user of financial statements?
A. Creditor of the business
B. Government agency
C. Shareholder of the business
D. Manager of the business
44. Every business transaction affects at least ________ accounts.?
A. One
B. Two
C. Three
D. Infinite
45. The other name of journal is
A. Day book
B. Cash book
C. Ledger
D. T account
46. Verification includes.?
A. Checking Vouchers
B. Examining audit report
C. A & B
B. Examining audit report
C. A & B
D. None of the above
47. Process Cost is very much applicable in.?
A. Pharmaceutical Industry
B. Construction Industry
B. Construction Industry
C. Air line company
D. None of these
D. None of these
48. M & A stands for.?
A. Mergers & Analysis
B. Mergers & Acquisitions
C. Mergers & Allocation
D. None of these
B. Mergers & Acquisitions
C. Mergers & Allocation
D. None of these
49. Identify the asset from the following
A. Notes payable
B. Creditors
C. Cash and cash equivalent
D. Bank loan
50. Depreciation is based on.?
A. Declared life of asset by supplier
B. Normal life of asset
C. Economic life of asset
B. Normal life of asset
C. Economic life of asset
D. None of these