41. An endowment insurance policy can be taken in respect
of.?
A. Life insurance
B. Fire insurance
C. Accident insurance
D. None of these
C. Accident insurance
D. None of these
42. Discount for quick repayment of
debt is normally referred as
A. Cash
discount
B. Trade discount
C. Bulk discount
D. Prompt payment discount
43. Which of the following is the
internal user of financial statements?
A. Creditor
of the business
B. Government
agency
C. Shareholder
of the business
D. Manager of
the business
44. Every business transaction affects
at least ________ accounts.?
A. One
B. Two
C. Three
D. Infinite
45. The other name of journal is
A. Day book
B. Cash book
C. Ledger
D. T account
46. Verification includes.?
A. Checking
Vouchers
B. Examining audit report
C. A & B
B. Examining audit report
C. A & B
D. None of the above
47. Process Cost is very much applicable in.?
A. Pharmaceutical Industry
B. Construction Industry
B. Construction Industry
C. Air line company
D. None of these
D. None of these
48. M & A stands for.?
A. Mergers & Analysis
B. Mergers & Acquisitions
C. Mergers & Allocation
D. None of these
B. Mergers & Acquisitions
C. Mergers & Allocation
D. None of these
49. Identify the asset from the
following
A. Notes
payable
B. Creditors
C. Cash and
cash equivalent
D. Bank
loan
50. Depreciation is based on.?
A. Declared life of asset by supplier
B. Normal life of asset
C. Economic life of asset
B. Normal life of asset
C. Economic life of asset
D. None of these
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