Que. 1 : Q1) _____________refers to unit(s) responsible for preparation of budgets and application of budgetary control.
1. a) Budget centre
2. b) Expense centre
3. c) Cost centre
4. d) Income centre
Que. 2 : Q2) Which ratio are the ratios between operating expenses(i.e. manufacturing overhead, office and selling expense) and sales?
1. a) Liquidity ratio
2. b) Activity ratio
3. c) Loss ratio
4. d) Operating ratio
Que. 3 : Q3) The GATT was signed in 1947 and continued until 1994, when it was replaced by the_______ in 1995.
1. a) Kyoto protocol
2. b) Davos World Economic Forum
3. c) World Trade Organisation
4. d) International Labour Organisation
Que. 4 : Q4) What is also known as gilt-edged securities?
1. a) Bonds
2. b) Debentures
3. c) Shares
4. d) Government securities
Que. 5 : Q5) Which Accounting standard says that Cash-flow statement shall be only under Direct Method?
1. a) Accounting standard 3
2. b) Accounting standard 13
3. c) Accounting standard 17
4. d) Accounting standard 19
