In standard costing, the Material Yield Variance is calculated as: MCQ with Answer and Explanation
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Question #1
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In the Balance Sheet, 'Loans and Advances' expected to be realised within 12 months are classified as:
Correct Answer: Option D
Explanation:
As per Schedule III, assets realisable within 12 months are current assets.
As per Schedule III, assets realisable within 12 months are current assets.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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PFMS is managed and implemented by:
Correct Answer: Option C
Explanation:
The Controller General of Accounts (CGA) under the Ministry of Finance administers the PFMS portal.
The Controller General of Accounts (CGA) under the Ministry of Finance administers the PFMS portal.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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If the Trial Balance totals do not match, the difference is temporarily transferred to:
Correct Answer: Option C
Explanation:
When the Trial Balance disagrees, the difference is placed in a Suspense Account to allow the preparation of final accounts. The suspense account is cleared once the errors are located and rectified.
When the Trial Balance disagrees, the difference is placed in a Suspense Account to allow the preparation of final accounts. The suspense account is cleared once the errors are located and rectified.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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