If fixed costs are Rs 1,00,000, selling price is Rs 20, and variable cost is Rs 10 per unit, the Break-Even Sales in Rupees is: MCQ with Answer and Explanation
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Question #1
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Which working capital financing approach uses short-term funds to finance temporary current assets and long-term funds to finance permanent current assets?
Correct Answer: Option D
Explanation:
The matching approach synchronizes the maturity of the financing source with the life of the asset being financed.
The matching approach synchronizes the maturity of the financing source with the life of the asset being financed.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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S1: Prudence concept requires recognizing anticipated losses but not anticipated profits. S2: Materiality concept allows ignoring trivial items. Which statement(s) is/are correct?
Correct Answer: Option D
Explanation:
Prudence ensures conservatism by providing for all foreseeable losses but not anticipating profits. Materiality allows accountants to bypass strict accounting rules for insignificant items. Both are correct.
Prudence ensures conservatism by providing for all foreseeable losses but not anticipating profits. Materiality allows accountants to bypass strict accounting rules for insignificant items. Both are correct.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Assertion (A): Indirect Taxes are regressive in their impact. Reason (R): They are levied at a uniform rate irrespective of the income level of the consumer.
Correct Answer: Option A
Explanation:
Because indirect taxes (like GST) are charged flatly on goods, lower-income people pay a higher proportion of their income, causing a regressive effect.
Because indirect taxes (like GST) are charged flatly on goods, lower-income people pay a higher proportion of their income, causing a regressive effect.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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