The process of critically reviewing a company's budget to justify every cost as if the activity is being undertaken for the first time is called: MCQ with Answer and Explanation
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Question #1
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In the context of the Indian Financial System, the 'Forward Markets Commission' (FMC) was the regulator for which market before its merger with SEBI?
Correct Answer: Option D
Explanation:
The Forward Markets Commission (FMC) was the regulatory authority for the commodity derivatives market in India before it was merged with SEBI in 2015.
The Forward Markets Commission (FMC) was the regulatory authority for the commodity derivatives market in India before it was merged with SEBI in 2015.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following is a 'Cash Equivalent'?
Correct Answer: Option D
Explanation:
Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value.
Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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When credit sales of Rs 5,000 to Ram are wrongly posted as Rs 500 in his account, it is an error of:
Correct Answer: Option B
Explanation:
An error of commission includes posting wrong amounts. It will cause a mismatch in the Trial Balance.
An error of commission includes posting wrong amounts. It will cause a mismatch in the Trial Balance.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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