Indian Economy Questions

Cost variance is nothing but the difference between the actual incurred cost and the estimated standard cost. This can be occured due to any changes in the volume of goods or services ordered. 

A favorable cost variance occurs when the actual incurred cost is less than the standard cost estimated before the production.

Deficit financing implies public expenditure in excess of public revenue.

"GDP price index" measures changes in the value of final output produced in the nation.

If expenses are paid in cash then the assets will decrease.

According to the report by the Commerce Ministry ‘Logistics Ease Across Different States (LEADS)’, Gujarat has topped the Logistic Index Chart, an indicator of the efficiency of logistics services necessary for promoting exports in particular, and economic growth in general. Gujarat is followed by Punjab, Andhra Pradesh, Karnataka and Maharashtra on the index.