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Q:

Accounting principles are generally based on

A) Convenience in recording B) Practicability
C) Subjectivity D) All of the above
 
Answer & Explanation Answer: B) Practicability

Explanation:
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Filed Under: Accounting and Finance
Exam Prep: Bank Exams

Q:

Calculate the accounting profits for a firm, if its economic profits for the year are Rs 60 crores, total implicit costs are Rs 18.5 crores and total explicit costs are Rs 35 crores

A) Rs 113.5 crores B) Rs 43.5 crores
C) Rs 76.5 crores D) Rs 78.5 crores
 
Answer & Explanation Answer: D) Rs 78.5 crores

Explanation:
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Filed Under: Indian Economy
Exam Prep: Bank Exams

Q:

A man was slowly counting but unfortunately he miscounted. A little later he suffered a sharp pain is his back. Why?

Answer

The man want to buy a shirt went to a shop. He was counting the pins as he removed them from a new shirt. unfortunately, he missed one and wore.

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Subject: Logic Puzzles Exam Prep: Bank Exams

Q:

What is the accounting year of the Reserve Bank of India ?

A) April-­March B) July-­June
C) October-­September D) January­-December
 
Answer & Explanation Answer: B) July-­June

Explanation:
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Filed Under: Indian Politics
Exam Prep: Bank Exams

Q:

From the given alternatives, select the word which CANNOT be formed using the letters of the given word.

Accounting

A) Count B) Actually
C) Acting D) Ant
 
Answer & Explanation Answer: B) Actually

Explanation:
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Filed Under: Logical Sequence of Words
Exam Prep: Bank Exams

Q:

Managerial accounting information is generally prepared for

A) creditors B) regulatory agencies
C) shareholders D) managers
 
Answer & Explanation Answer: D) managers

Explanation:

Managerial accounting information is generally prepared for managers of an organization. It is also known as cost accounting, is the process of identifying, measuring, analyzing, interpreting, and communicating information to managers for the pursuit of an organization's goals. 

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Filed Under: Accounting and Finance
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

Q:

A major purpose of cost accounting is to

A) measure, record and report product costs B) classify all the product costs
C) to provide information to stockholders for investment decisions D) All of the above
 
Answer & Explanation Answer: A) measure, record and report product costs

Explanation:

A major purpose of cost accounting is to measure, record and report product costs.

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Filed Under: Business Awareness
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

Q:

Managerial Accounting is also called

A) Control accounting B) Management accounting
C) Cost accounting D) Both B & C
 
Answer & Explanation Answer: D) Both B & C

Explanation:

Managerial Accounting is also called as Management accounting or Cost accounting. It is the process of identifying, measuring, analyzing, interpreting, and communicating information to managers of an organization. Then that managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions.

 

managerial_accounting_is_also_called1561444774.jpg image

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Filed Under: Accounts Payable
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO