A partnership deed is: MCQ with Answer and Explanation
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Question #1
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A: EOQ (Economic Order Quantity) minimizes the total cost of inventory. R: EOQ balances ordering costs and carrying costs. Choose the correct option.
Correct Answer: Option A
Explanation:
EOQ is the order quantity that minimizes total inventory costs. It achieves this by finding the point where total ordering costs equal total carrying costs. R correctly explains the mechanism of EOQ.
EOQ is the order quantity that minimizes total inventory costs. It achieves this by finding the point where total ordering costs equal total carrying costs. R correctly explains the mechanism of EOQ.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'TDS' under GST is applicable to:
Correct Answer: Option C
Explanation:
GST TDS is deducted by certain government departments/agencies at 2% on contracts exceeding ₹2.5 lakh.
GST TDS is deducted by certain government departments/agencies at 2% on contracts exceeding ₹2.5 lakh.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which accounting concept requires that the life of the business be divided into smaller intervals for performance measurement?
Correct Answer: Option A
Explanation:
The Accounting Period Concept artificially breaks the continuous life of a business into standard intervals (usually 12 months) for reporting purposes.
The Accounting Period Concept artificially breaks the continuous life of a business into standard intervals (usually 12 months) for reporting purposes.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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