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BEFA SUBJECT

Authored by V Rao

Business

University

Used 7+ times

BEFA SUBJECT
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25 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The break-even point can be defined as?

The level of activity at which there is neither profit nor loss

The level of activity where cash flow is zero

The level of activity where profits equal fixed costs

The level of activity where variable costs are covered by sales revenue

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Contribution margin is the difference between sales and____________?

Fixed cost

Variable cost

Profit

Revenue

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a Market structure called 'Monopoly’ there will be

One seller

Two sellers

Few sellers

Many sellers

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

1. The basic sequence in the accounting process can best be described as?

A) Transaction, journal entry, ledger account, trading, profit and loss account, trial balance

Transaction, ledger account, journal entry, trial balance, trading, profit and loss account

Transaction, journal entry, ledger account, trial balance, trading, profit and loss account

A) Transaction, journal entry, trial balance, ledger account, trading, profit and loss account

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following account will be credited, if business bought goods on credit from Mr. Z

Purchases account

Mr. Z account

Cash account

Sales account

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following items of balance sheet are useful in evaluating a company’s liquidity?

Current assets and other assets

Current assets and current liabilities

Current liabilities and plant and equipment

Current liabilities and plant and equipment

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Patents, trademarks and copy rights are

Current assets

Fixed assets

Intangible assets

Investments

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