CAT Questions

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A bank account under financial inclusion scheme Pradhan Mantri Jan Dhan Yojana (PMJDY) can be opened in any bank branch or business correspondent outlet. PMJDY is a government-run financial inclusion scheme aimed at ensuring access to services such as banking, savings, deposits, remittance, credit, insurance and pension at an affordable price. Bank accounts under the Jan Dhan scheme can be opened with zero balance. In other words, the account holder need not maintain any particular account balance to keep the account account. The government recently doubled the overdraft limit on Jan Dhan accounts. The overdraft limit of Jan Dhan accounts now stands at Rs 10,000, double than the previous limit of Rs 5,000, according to an official statement released last week. 

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

Revenue should be recognized when it is realized or when it is earned. When a service is performed something is earned and revenue should be recognized.

Oil change intervals as specified by the vehicle manufacturer are maximum time and mileage intervals.