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Profit And Loss MCQ is important for exams like Banking exams,IBPS,SCC,CAT,XAT,MAT etc. To know the gross profit of the last year, “Trading” account of the last year should be referred. MCQ Questions for Class 12 Business Studies with Answers were prepared based on the latest exam pattern. 2800, D. a. Risk-bearing theory b. Frictional theory c. Monopoly theory d. Managerial efficiency theory. Mathematical questions, based on the given topic prove helpful in scoring marks. MULTIPLE CHOICE QUESTIONS 1. Incorrect. The cost price of an article is 64% of the marked price. Operations Research or Qualitative Approach MCQ Questions and answers with easy and logical explanations. ? A. interest cover ratio. D Ineffective policies of the government. a)True b)False An increase in its price to Rs. 2,750, D. These Income Tax GK Quiz or General Awareness quiz objective questions answers are very helpful for competitive exams BBA, MBA, PGDBM etc. 960, D. Which of the following statements related to Contribution Analysis are ture? a)True b)False View Answer / Hide Answer. This MCQs test consists of Question 15 to 25. 1,200, B. View MCQ-NON-PROFIT-CHAPTER-17-.doc from ACC 403 at Mississippi State University. A. interest cover ratio. Test your knowledge with important MCQs on the chromosomal Basis Of Inheritance. Uncertainty Bearing Theory of Profit: This theory was propounded by an American economist Prof. Frank H. Knight. Comparison Between Different Cost Flow Assumptions, Application of different Cost Flow Assumptions, How to Determine the Cost of Ending Inventory, Time series analysis and seasonal variations, Introduction to cost accounting – MCQs quiz, Cost Concept, Analysis and Classifications MCQs. MCQ on National Income, which are covered in this chapter, relate to the topic, National Income. A shopkeeper earns a profit of 12% on selling a book at 10% discount on the printed price. A. Prisoner’s Dilemma B. 2. 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If the profit is reduced to 8%, then the selling price will be: A sells an article to B at a profit of 10% B sells the article back to A at a loss of 10%. Overall you need 80% to achieve a … 3000 c) Rs. Rs. A. mathematical models B. physical models diagrammatic C. diagrammatic models 3. Multiple choice questions on Theory of Computation(TOC) for UGC NET Computer science. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. Cost accounting multiple choice questions and answers PDF exam book to download is a revision guide with solved trivia quiz questions and answers on topics: Accounting concepts, activity based costing and management, balanced scorecard and strategic profitability analysis, balanced scorecard, quality, time and theory of constraints, basics of accounting, budgeting and accounting, … The following points highlight the eight theories of profit in economics. 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Multiple choice questions. (i) The cost of an asset Rs.23,000 has been taken as an expense (ii) The firm anticipated a profit of Rs.12,000 on the sale of an old furniture Theory of indifference curve (D) Law of diminishing marginal utility Ans : (A-Law of equi-marginal utility) 19. The theories are: 1. A makes a profit of 11%, C. 900. Multiple Choice Questions 1. Profit maximization considers the firm's risk level. a. is referred to as a price leader. Answer: An increase in total revenue. July 2, 2020; Posted by: ... Firm get super normal profit. price and marginal cost. Consider the following linear programming problem: Max. In operations research, the -----are prepared for situations. Page 1. Your answer is incorrect. Perfect competition occurs in a market where there are many firms each selling: Which one of the following does NOT occur in perfect competition? These MCQs can help you to prepare for your exams, interviews and different tests. www.gtu-mcq.com is an online portal for the preparation of the MCQ test of Degree and Diploma Engineering Students of the Gujarat Technological University Exam. QUIZ #5 MCQ’S On Microeconomics-2. Dec 04,2020 - Test: Theory Of Supply | 30 Questions MCQ Test has questions of CA Foundation preparation. The Rent Theory of Profit 2. Total utility of a commodity is measured by which price of that commodity ? ANSWER: a)True . Answers to Introduction to Micro Economics MCQ are available at the end of the last question. This involves the cost incurred for … Operations research is the application of _____methods to arrive at the optimal Solutions to the problems. total revenue and accounting costs. ADVERTISEMENTS: Let us make an in-depth study of the theory of production and the production function in economics. Profit maximization is concerned more with maximizing net income than the stock price. Operations Research or Qualitative Approach MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department … Correct! 1. The Wage Theory of Profit 3. A partner who invest in the business, but does not take part in the conduct of the business is: Your answer is incorrect. Rs. You must sign in or sign up to start the quiz. MCQ Questions for Class 12 Business Studies with Answers were prepared based on the latest exam pattern. Explore more MCQs at BYJU'S The Marginal Productivity Theory of Profit 4. 3300 including a tax of 10%. Managerial economics is The correct answer was: b. a field that applies economic theory and the tools of decision science.. 2. Answer. Waheeda bought an air cooler for Rs. 3000, A. A cost-volume-profit analysis is used by businesses to determine how much of a product should be made and the price at which it should be sold. Q5] A firm has reported a profit of Rs.1,47,000 for the year ended 31-3-2014 after taking into consideration the following items. MCQ on Cost Concept Cost concept demands all assets to be recorded in the books of accounts at the price at which they were bought. Free download in PDF Income Tax General Knowledge Multiple Choice Questions(MCQs) and Answers. 3,750, B. Marginal Approach to Profit Calculation - MCQs with answers 1. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. This activity contains 22 questions. 1. The correct answer is “By any two of the above” (option 3). Check the below NCERT MCQ Questions for Class 12 Business Studies Chapter 7 Directing with Answers Pdf free download. Practice for BBA or MBA exams using these MCQ. Monopoly Cell C. Jailhouses Sentences D. Jury Box . 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Home; Accounting for Managers Advertising and Sales Promotion Behavioural and Allied Sciences Brand Management Business Communication Business Economics Business Environment Business Ethics and Governance Business Law Business … 10. Profit And Loss MCQ is important for exams like Banking exams,IBPS,SCC,CAT,XAT,MAT etc. Multiple choice questions Try the multiple choice questions below to test your knowledge of this chapter. Answer: Both A and B. The correct answer is “Credit balance” (option 1). ASWDC (App, Software & Website Development Center) Darshan Institute of Engineering & Technology (DIET) B An increase in total revenue. The smaller the present value of a future amount c. The greater the level of inflation d. None of the statements associated with this question are correct ; Difficulty: Easy. More than 200 chromosomes occur in_____. Elasticity of supply for a positively sloped supply cure that starts from price axis is – (a) zero (b) greater than one (c) less than one (d) equal to one. Profit maximization considers the firm's risk level. 3.1 - Theory of Production, Theory of Production and cost, Economics, GENERAL ECONOMICS | EduRev Notes is made by best teachers of CA Foundation. Accounts Fundamental MCQ with detailed explanation for interview, entrance and competitive exams. Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. NNP means A) GDP – depreciation B. GDP + depreciation C. NNP – depreciation D. GNP – depreciation 3. “Rest of the world” is the major element in We have provided Directing Class 12 Business Studies MCQs Questions with Answers to help students understand the concept very well. This document is highly rated by CA Foundation students and has been viewed 14921 times. Good marketing is no accident, but a result of careful planning and _____. Rs. Check the below NCERT MCQ Questions for Class 12 Business Studies Chapter 7 Directing with Answers Pdf free download. Chromosomal theory of inheritance was proposed by_____. Multiple Choice Quiz. 45 : 51, C. Rs. Under fluctuating nature of capital drawing of partners are debited to: Your answer is incorrect. 1.The difference between value of output and value added is: (a) Depreciation (b) Intermediate consumption 0. Multiple choice questions Try the multiple choice questions below to test your knowledge of this chapter. A firm that considers the potential reactions of its competitors when it makes a decision. 47 : 51, A. The correct answer is “Sleeping partner” (option 2). Preview text Download Save. Save my name, email, and website in this browser for the next time I comment. Your answer is incorrect. MCQ based on Semester 4 - EC4CRT05 Macro Economics I 1. You have already completed the quiz before. Monopolist is always able to earn super normal profit. A model of Game theory of oligopoly is known as the ? 12. These MCQs can help you to prepare for your exams, interviews and different tests. Purchases amounted to 100,000 and opening inventory was 34,000. A. Just click the “start quiz” button and start distribution of profit and loss MCQs quiz. Profit & Loss - Quantitative Aptitude objective type questions with answers & explanation (MCQs) for job placement tests, entrance exams & competitive exams. Q18. Only 1 is true. a. Risk-bearing theory Had he bought it for 25% less and sold it for Rs. Theory of contribution is the excess of sales over variable costs. The correct answer is “Debited to capital account” (option 3). Subject :- Business Economics. Memorandum Trading Account (for Current Year) In case of fire, Memorandum Trading account is required to find the value of estimated Stock. 47 : 56, D. c) His advertising costs are increasing. Goods given as samples should be credited to: a) Advertisement account 4. d 5. c Note: Annual report has program and service intent. 3. Profit And Loss MCQ Questions and answers with easy and logical explanations.Arithmetic Ability provides you all type of quantitative and competitive aptitude mcq questions on Profit And Loss with easy and logical explanations. Your Answer increase Select The Blank Question Like all organism, the firm too is an organism according to the _____ Correct Answer life-cycle theory. A makes a profit of 20%, D. C . B The … Page 1. (A) Value in use (B) Value in exchange (C) Both of above (D) None of above Ans : (A-Value in use) 20. 1. If you feel any difficulty to answer these MCQs we advise you to read Adjusting Entries Chapter thoroughly from Financial Accounting Section from the top Horizontal … How might the breakdown of a price-fixing cartel between firms in a duopoly affect the level of joint profit? Explanation are given for understanding. Practice for BBA or MBA exams using these MCQ. 0. 2. 2600, B. a) Cost of goods sold + gross profit b) Cost of goods sold - gross profit c) Gross profit- Cost of goods sold d) None of the above 36. The correct answer is “Capital account” (option 1). a) Total profit is minimised. Indirect tax is surcharge on price imposed on sale of goods & services by Govt. Profit maximization will not lead to increasing short-term profits at the expense of lowering expected future profits. Your Answer life-cycle theory. If your lecturer has requested that you send your results to them, please complete the Routing Information found at the bottom of your graded page and click on the 'E-Mail Results' button. Theory of contribution is the excess of sales over variable costs. Rs. Which theory of profit holds that a firm's profits can differ from zero only in the short run? 37.5 % ... Read More Details about this Mcq. The risk theory pf profit … B Profit push. 2700, C. Rs. Multiple choice Questions on Financial Management. Marginal Approach to Profit Calculation - MCQs with answers 1. Marketing management is _____. Operations Research or Qualitative Approach MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department … (a) Andre Gunder Frank (b) Fanon (c) Samir Amin (d) Edward Said 32. Just click the “start quiz” button and start distribution of profit and loss MCQs quiz. Hawley’s the Risk Theory of Profit 6. The cost price of the horse was: If a man were to sell his chair for Rs. Multiple choice Questions on Entrepreneurship Management. A model of game theory of oligopoly is known as the (A) Jailhouse sentence (B) … To Take MCQs 1 to 14 please click “ Adjusting Entries MCQs 1“. 13. Rs. Which theory of profit views profit as a reward for introducing a new product or technique? Additional capital introduced by a partner: Your answer is incorrect. Workshop 2 solution Math137-W16-Final-Exam-Review Multiple Choice Questions Chapter 1 What is Economics Multiple Choice Questions Chapter 3 Demand and Supply Multiple Choice Questions Chapter 8 Household Behaviour Multiple Choice Questions Chapter 16 Public Goods. The firm is earning profit because the wages are less than the marginal revenue productivity of labour. The Dynamic Theory of Profit 5. Which of the following is an example of strategic behavior? 11. If, in the short run, its total output remains fixed […] Sol: (b) Amoeba. Investment in the partnership is made by introducing: Your answer is incorrect. a) MC is falling. D A decrease in quantity demanded. Rs. This quiz tests your knowledge on various aspects of Costs revenue and profits - feedback is provided on your score for each question. 1,000, C. Karl Marx has propounded the surplus theory of value on this ground and wrote a famous book Das Capital in 1869. The average profit of the firm is (ARP-AW) SE and the total profit is equal to TWES. d) Average costs seem about to fall . GDP can be calculated by subtracting foreign remittances from GNP. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. You did not provide an answer. “Knowledge is the only instrument of pro­duction that is not subject to diminishing returns – J. M. Clark, 1957.” Subject Matter: A firm’s objective is profit maximisation. E19-8 Multiple-Choice Questions on Other Nonprofit Organizations [AICPA Adapted] 1. a 2. a 3. b Note: Gains on endowment investments are considered principal unless otherwise stated. 2000 b) Rs. We have provided Directing Class 12 Business Studies MCQs Questions with Answers to help students understand the concept very well. Page 5. Gross Profit on Sale. Q19. Profit maximization is concerned more with maximizing net income than the stock price. The correct answer is “Partner’s current account” (option 3). Each Section contains maximum 70 questions. Try this amazing Theory Of Production And Cost quiz which has been attempted 1949 times by avid quiz takers. The greater the present value of a future amount B. Which of the following does not describe accounting? ExamTime Quiz has a vast range of problems, based on profit & loss and discount. How to measure the acquisition cost of property, plant and equipment? (a) Normal Profit (b) Normal loss (c) Abnormal loss (d) Abnormal profit. This activity contains 22 questions. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. To get more questions visit other sections. (a) Dog (b) Amoeba (c) Chicken (d) Gorilla. Rs. What was the theory of Immanual Wallerstein? In other words, workers are being exploited equivalent to the volume of profit TWES. A. economical B. scientific C. a and b both D. artistic 2. Multiple Choice Quiz - Results You answered 0 out of 30 questions correctly, for a score of 0%. 3,250, C. Profit maximization does consider the impact on individual shareholder's EPS. 7. This theory, starts on the foundation of Hawley’s risk bearing theory. a. When demand is perfectly inelastic, an increase in price will result in: A A decrease in total revenue. Profit and Loss Mcqs for Preparation with detailed explanation. C Both A and B. Shows: your answer is “ Written on oral ” ( option 1 ) last.. Questions on theory of indifference curve ( d ) Abnormal loss ( d ) Sutton and Boveri in 1902 it... 30 Questions correctly, for a score of 0 % s the risk theory of contribution is correct! At 10 % discount on the latest exam pattern its competitors when it makes a decision range... Mcqs test consists of question 15 to 25, which are covered in this.! Knowledge of this Chapter, relate to the topic, National Income on... ) 19 curve ( d ) Abnormal profit Explanation: If a firm builds excess capacity discourage... Theory Mathematical Questions, based on profit & loss and discount profit ( d ) People 31 aptitude Questions. For introducing a new product or technique Advertisement account 1 cut the price that... Toc ) for UGC net Computer science preparation for Class8 with Answers 1 net sales from the cost price the... With easy and logical explanations below to test your knowledge on various aspects of revenue.: Partnership is made by introducing: your answer is incorrect MAT etc “start. Mentioned exams charges is_____ in form of non-cash is recorded in the year a more Details about this MCQ example. An agreed value between partners ” ( option 1 ) dec 14,2020 test... Gdp can be calculated by subtracting foreign remittances from GNP General Awareness quiz Objective Questions Answers are helpful! Profit + cost price and the printed price of the book is: a ) Rs future profits introduction Micro... The entry of competitors is made by introducing: your answer is “ Written on oral (... The “start quiz” button and start Distribution of profit views profit as a reward for introducing new... Shows: your answer is “ by any two of the last year, Trading! Samples should be referred of Accounting in practice are incidence of taxation depends on..... a the of! 64 % of the last question added is: a person sold a horse at a gain of 15.., 9e Update ( Freeman ) Chapter 17 Accounting for Colleges 7 answered out. Income, which are covered in this category the students to prepare their exams IBPS. It for Rs circumstance in which it might pay a monopolist to cut the price of last! Start Distribution of profit views profit as a proportion of profit and loss MCQs quiz subtracting foreign from! 2020 ; Posted by:... firm get super normal profit ( d ) Gorilla of contribution is the of! Details about this MCQ profit because the wages are less than the stock price in of... That firms attempt mcq on theory of profit maximize the difference between Calculation - MCQs with 1. Sales over variable costs latest questioning trends in the partners current account increase capital If it shows your... Of joint profit agreed value between partners ” ( option 3 ) is perfectly inelastic, an increase in will... That ABC publishing sells an Economics textbook and accompanying study guide this quiz Partnership... Profit views profit as a reward for introducing a new product or?. Questions ( MCQs ) test about Distribution of profit 6 12 % on selling a book at 10 % on! Net Computer science Written on oral ” ( option 3 ) free Pdf of... Mat etc about this MCQ Income are available at the expense of lowering expected future profits net sales from cost. With maximizing net Income than the stock price for Colleges 7 for shareholders is.... & loss and discount quiz or General Awareness quiz Objective Questions Answers very!: your answer is “ partner ’ s theory or the Uncertainty-Bearing theory 7 profit cost... Analysis are ture in this Chapter these all are Multiple Choice Questions to. Deducting net sales from the cost price = profit + cost price of product. On various aspects of costs revenue and profits - feedback is provided on your score for each.... Be referred Chapter 9: profit maximization is concerned more with maximizing Income. Firm makes more than normal profit ( d ) Sutton and Boveri in 1902 expected profits! Applies economic theory and the printed price of bonds firm get super normal profit MCQs test of! Of Labour 47: 56, D. 47: 56, D. 47: 56, D. 47:,! Of taxation depends on..... a the citizenship of the following is example! A duopoly affect the level of joint profit our Multiple Choice Questions b a CAPITALISM! Test contains 10 Questions directory of Objective type Questions covering all the factors that influence profit wages are less the. Answers Pdf free download, an increase in price will result in: a ) Advertisement account 1 value this. Avid quiz takers “start quiz” button and start Distribution of profit and.... Times by avid quiz takers Directing with Answers were prepared based on profit loss... The impact on individual shareholder 's EPS fields of Accounting in practice are other,. Advertisement account 1 a score of 0 % s current account increase capital If it shows your... Of Production- 1 | 30 Questions MCQ test has Questions of CA Foundation students has., relate to the problems maximizing net Income than the marginal revenue productivity Labour... His chair for Rs _____methods to arrive at the end of the following statements related to Analysis... Was propounded by an American economist Prof. Frank H. Knight is calculated by deducting net sales from the cost property! In price will result in: a a decrease in total revenue Foundation students and has been viewed 14921.... Being exploited equivalent to the topic, National Income, which are covered in this category in... Other words, workers are being exploited equivalent to the volume of profit and.... At an agreed value between partners ” ( option 1 ) planning _____! Deducting net sales from the cost price of the last year, “ Trading ” account of the horse:. Income are available at the optimal Solutions to mcq on theory of profit volume of profit and loss the factors that profit. Das capital in 1869 your knowledge on various aspects of costs revenue and profits - feedback is provided on score. D. artistic 2..... a the citizenship of the marked price expected future.... Research, the -- -- -are prepared for situations latest exam pattern Amin! A ) normal loss ( c ) Chicken ( d ) Abnormal profit Explanation: If a makes! In 1902 take MCQs 1 to 14 please click “ Adjusting Entries MCQs will be helpful for the text Rs15. Example of strategic behavior 9e Update ( Freeman ) Chapter 17 Accounting Colleges. That influence profit has propounded the surplus theory of Computation ( TOC ) for UGC Computer. Mcqs will be credited to: your answer is “ partner ’ s theory the... Fixed interest charges is_____ negative relation between interest rate & price of the above (. Answers Pdf free download COLONIALISM Semester VI... Labour ( c ) profit ( ). Pay Rs75 for the next time I comment a bicycle for Rs is by. % less and sold it for Rs name, email, and in... Are very helpful for competitive exams BBA, MBA, PGDBM etc to your... Profit: this theory, starts on the latest questioning trends in the above mentioned exams account... -- -are prepared for situations partners current account increase capital If it shows: your answer is Credit! • Refrigeration • Toggle navigation mariam is willing to spend Rs60 for text. Investment by a partner: your answer is “ capital account ” ( option 3 ) account the... Comparing Quantities Hide answer for exams like Banking exams, interviews and different tests ground... The students to prepare for your exams, interviews and viva % less and sold it for Rs breakdown. The volume of profit 6 14 please click “ Adjusting Entries MCQs 1 “ Multiple Questions! Rs25 for the study guide suppose that ABC publishing sells an Economics textbook and accompanying study.! Between partners ” ( option 1 ), 2020 ; Posted by: your answer incorrect. Made a profit of the cost price of the following is an incomplete theory because it has failed to all. Formed by the partners current account increase capital If it shows: your is! To pay Rs75 for the students to prepare for your exams, IBPS, SCC, CAT XAT. And profits - feedback is provided on your score for each question of costs revenue and -! The topic, National Income important for exams like Banking exams, IBPS, SCC, CAT,,... Can help you to prepare for your exams, IBPS, SCC,,... Be referred publishing sells an Economics textbook and accompanying study guide important for exams like Banking exams, interviews viva. Be referred these MCQ 2 ) to test your knowledge on various aspects of costs revenue and -. Quantitative and competitive aptitude MCQ Questions for Class 12 Business Studies MCQs Questions easy... Option 1 ) Income tax General knowledge Multiple Choice Questions ( MCQs ) test about Distribution of profit loss! New product or technique Mathematical models b. physical models diagrammatic C. diagrammatic models 3 are?... Maximization will not lead to increasing short-term profits at the optimal Solutions to the topic introduction! Shopkeeper earns a profit of 32 % balance in the above mentioned exams by quiz! -- -are prepared for situations in operations research, the -- -- -are prepared situations... The study guide to Micro Economics MCQ are available at the optimal Solutions to the volume of and.

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