Which audit assesses whether management's policies and procedures are operating efficiently? MCQ with Answer and Explanation
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Question #1
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In Cost-Volume-Profit (CVP) analysis, 'Angle of Incidence' represents:
Correct Answer: Option C
Explanation:
A wider angle of incidence on a break-even chart indicates a higher rate of profit generation once the break-even point is crossed.
A wider angle of incidence on a break-even chart indicates a higher rate of profit generation once the break-even point is crossed.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Journal Proper' is used to record:
Correct Answer: Option D
Explanation:
Journal proper is for opening entries, closing entries, transfer entries, rectification entries, etc.
Journal proper is for opening entries, closing entries, transfer entries, rectification entries, etc.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which of the following is a direct tax?
Correct Answer: Option C
Explanation:
Income tax is a direct tax as the burden falls directly on the taxpayer. GST, excise, customs are indirect taxes.
Income tax is a direct tax as the burden falls directly on the taxpayer. GST, excise, customs are indirect taxes.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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