S1: SEBI regulates the primary and secondary capital markets in India. S2: SEBI was established by a legislative act of Parliament. Which statement(s) is/are correct? MCQ with Answer and Explanation
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Question #1
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A favourable variance in materials cost indicates that:
Correct Answer: Option C
Explanation:
Favourable means beneficial to profit, which happens when actual costs are lower than standard expected costs.
Favourable means beneficial to profit, which happens when actual costs are lower than standard expected costs.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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If Cost of Goods Sold (COGS) is Rs 1,50,000 and Gross Profit is 20% on Sales, what is the Sales value?
Correct Answer: Option A
Explanation:
If GP is 20% on sales, COGS is 80% on sales. Sales = COGS / 80% = 1,50,000 / 0.8 = Rs 1,87,500.
If GP is 20% on sales, COGS is 80% on sales. Sales = COGS / 80% = 1,50,000 / 0.8 = Rs 1,87,500.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Under the Companies Act 2013, the 'National Company Law Tribunal' (NCLT) has the power to approve schemes of amalgamation. Before approving, it must receive a report from:
Correct Answer: Option B
Explanation:
Section 232 of the Companies Act requires the NCLT to receive a report from the Official Liquidator or a designated expert regarding the affairs of the company and whether the scheme prejudices the interests of members or creditors.
Section 232 of the Companies Act requires the NCLT to receive a report from the Official Liquidator or a designated expert regarding the affairs of the company and whether the scheme prejudices the interests of members or creditors.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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