Accounting by Non-Profit Organizations (NPOs) usually revolves around which system? MCQ with Answer and Explanation
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Question #1
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ESG Reporting focuses on an organization's performance regarding:
Correct Answer: Option A
Explanation:
ESG reporting discloses a company's non-financial impacts, assessing its sustainability, societal impact, and corporate governance practices.
ESG reporting discloses a company's non-financial impacts, assessing its sustainability, societal impact, and corporate governance practices.
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Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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A: Zero-Based Budgeting requires justification for all expenses. R: It starts with a zero base for every new period. Choose the correct option.
Correct Answer: Option D
Explanation:
ZBB requires managers to justify every item of expenditure from scratch. This is because it starts with a 'zero base' for each new period, rather than using the previous year's budget as a baseline. R correctly explains A.
ZBB requires managers to justify every item of expenditure from scratch. This is because it starts with a 'zero base' for each new period, rather than using the previous year's budget as a baseline. R correctly explains A.
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Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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In standard costing, the Material Yield Variance is calculated as:
Correct Answer: Option B
Explanation:
Material Yield Variance measures the difference between the actual output and the standard output expected from the actual input. It is calculated as (Standard Yield - Actual Yield) x Standard Cost per unit of Yield. A positive value indicates a favorable variance.
Material Yield Variance measures the difference between the actual output and the standard output expected from the actual input. It is calculated as (Standard Yield - Actual Yield) x Standard Cost per unit of Yield. A positive value indicates a favorable variance.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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