In 'Standard Costing', the formula for 'Material Usage Variance' is: MCQ with Answer and Explanation
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Question #1
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PFMS portal is used for:
Correct Answer: Option C
Explanation:
PFMS facilitates direct benefit transfers and real-time tracking of government funds.
PFMS facilitates direct benefit transfers and real-time tracking of government funds.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'GST on Virtual Digital Assets' is:
Correct Answer: Option B
Explanation:
GST on services related to VDA is generally 18%.
GST on services related to VDA is generally 18%.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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S1: The Purchases Return Book records returns of goods purchased on credit. S2: The Purchases Return Book is also called the Returns Outwards Book. Which statement(s) is/are correct?
Correct Answer: Option A
Explanation:
The Purchases Return Book records goods returned to suppliers that were originally purchased on credit. It is also known as the Returns Outwards Book because goods are going out of the business. Both statements are correct.
The Purchases Return Book records goods returned to suppliers that were originally purchased on credit. It is also known as the Returns Outwards Book because goods are going out of the business. Both statements are correct.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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