LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Select The Blank Question A ________ note is prepared when excess material is returned to stores. Correct Material returned Answer Your Answer Material returned True/False Question Correct Answer Your Answer

Accounting refers to the process of analyzing & interpreting the information already recorded in the books of accounts. True True

Multiple Choice Single Answer Question Labour turnover rate is best defined as : Correct Answer Your Answer True/False Question Correct Answer Your Answer True/False Question Correct Answer Your Answer The number of leavers replaced divided by the average of employees on the payroll The number of leavers replaced divided by the average of employees on the payroll The process of accounting split into three steams i.e. financial, cost, management accounting. True True

A business is an activity carried out with the intention of earning the profit. True True

Multiple Choice Single Answer Question Insurance premium of Rs.18,000/- was paid on 15th January, 2004. The policy period is one year from the date of payment of insurance. On 31st March, 2004 what amount should be debited to the Profit and Loss account as expenditure on account of insurance premium?