Current Affairs 2021 PDF

To crack any competitive exam like SSC, Railways, Insurance, UPSC, CLAT, Banking, State PSC Exams and other exams it is very important to answer all current affairs questions correctly. Gkseries Updates Current Affairs and Q&A packages in compiled and sorted topic wise to ensure easy accessibility of the information.

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Accounting - Questions and Answers for Competitive Exams | GkSeries

Questions
37. In funds flow statement, outflow of funds on account of operations is
  • [A] application of fund
  • [B] source of cash
  • [C] application of cash
  • [D] source of fund

Answer: Option [A]

38. In funds flow statement, repayment of long-term loans is
  • [A] application of fund
  • [B] source of cash
  • [C] application of cash
  • [D] source of fund

Answer: Option [A]

39. In adjusted P & L account, depreciation on fixed assets will be
  • [A] debited
  • [B] credited
  • [C] ignored
  • [D] deducted

Answer: Option [A]

40. Cash flow analysis is based on the
  • [A] capital
  • [B] fixed assets
  • [C] cash concept of funds
  • [D] working capital

Answer: Option [C]

41. In cash flow statement, increase in current asset
  • [A] increases cash
  • [B] decreases cash
  • [C] increases working capital
  • [D] decreases working capital

Answer: Option [B]

42. In cash flow statement, opening balances of bank balance is posted in which side of the statement
  • [A] sources of cash
  • [B] application of cash
  • [C] sources of funds
  • [D] application of funds

Answer: Option [A]

43. In cash flow statement, closing balances of bank balance is posted in which side of the statemen
  • [A] sources of cash
  • [B] application of cash
  • [C] sources of funds
  • [D] application of funds

Answer: Option [B]

44. Production cost under marginal costing includes
  • [A] prime cost only
  • [B] prime cost and fixed overhead
  • [C] prime cost and variable overhead
  • [D] prime cost, variable overhead and fixed overhead

Answer: Option [C]

45. Contribution margin is equal to
  • [A] fixed cost - loss
  • [B] profit + variable cost
  • [C] sales - fixed cost- profit
  • [D] sales - profit

Answer: Option [A]

46. P/V Ratio is an indicator of
  • [A] the rate at which goods are sold
  • [B] the volume of sales
  • [C] the volume of profit
  • [D] the rate of profit

Answer: Option [D]

47. An increase in variable costs
  • [A] increases p/v ratio
  • [B] increases the profit
  • [C] reduces contribution
  • [D] increases margin of safety

Answer: Option [C]

48. CVP analysis is most important for the determination of
  • [A] sales revenue necessary to equal fixed costs
  • [B] relationship between revenues and costs at various levels of operations
  • [C] variable revenues necessary to equal fixed costs
  • [D] volume of operations necessary to Break-even

Answer: Option [A]

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