Government policies that focus on changing taxes and government spending are called:
(a) Fiscal policies
(b) Monetary policies.
(c) Incomes policies.
(d) Supply-side policies.
Answer: a
Who is Tax payer?
(a) Businessman
(b) Assessee
(c) Trust
(d) Farmer
Answer: b
The most important source of income of a government is:
(a) Foreign loans
(b) Sprinting of new money
(c) Sale of government property
(d) Taxes
Answer: d
What does the certification CA stand for (in Canada)?
(a) Accrued revenue
(b) Chartered Accountant
(c) All of the above
(d) Nome of the above
Answer: b
When you have yet to bill a customer for services rendered and have not received the money in the same financial period that the service was performed, then the transaction is recorded as a(n) ________ (assume accrual basis of accounting)?
(a) accrued revenue
(b) accrued expense
(c) unearned revenue
(d) prepaid expense
Answer: a
What are internal controls designed to do?
(a) only safeguard assets
(b) only ensue accurate accounting records
(c) only achieve maximum revenue
(d) safeguard assets and optimize the use of resources
Answer: d
Direct material opening inventory add net purchases is called
(a) Material consumed
(b) Material available for use
(c) Total material purchased
(d) Material ending inventory
Answer: b
Which of the following is to be called product cost
(a) Material cost
(b) Labor cost
(c) FOH cost
(d) All of these
Answer: d
Which of the following cannot be used as a base for the determination of overhead absorption rate?
(a) Number of units produced
(b) Prime cost
(c) Conversion cost
(d) Discount Allowed
Answer: d
A Blanket Rate is:
(a) A single rate which used throughout the organization departments
(b) A double rates which used throughout the organization departments
(c) A single rates which used in different departments of the organization
(d) None of the given options
Answer: a