Question38:-A and B are partners in a business sharing profit and loss in the ratio of 3:2 they admit a new partner C with 1/5
share in the profits. Calculate the new profit sharing ratio of the partners

Correct Answer:- Option-A
Question39:-General provision for doubtful debts in case of standard assets is to be made by a banking company ह
&:-0.1%
B:-0.40%
C:-1%
D:-0.25%
Correct Answer:- Option-B
Question40:-When actual loss is less than the normal loss, it is
A:-normal waste
B:-abnormal waste
C:-normal gain
D:-abnormal gain
Correct Answer:- Option-D
Question41:-. ... variance is that portion of material cost variance which is due to the difference between actual
quantity consumed and standard quantity specified
A:-material usage
B:-material yield
C:-material mix
D:-material cost variance
Correct Answer:- Option-A
Question42:-What will be the main reason for labour rate variance?
A:-inefficient workers
B:-defective tools, plant and machinery
C:-insufficient training of workers
D:-change in basic wage rate
Correct Answer:- Option-D
Questiond 3:-Subdivision of overhead volume variance are
A:-efficiency variance
B:-capacity variance
C:-calendar variance
D:-all the above
Correct Answer:- Option-D
Question44:-From the following budget, which gives a summary of all functional budget
A:-capital budget
B:-master budget
C:-flexible budget
D:-discretionary budget
Correct Answer:- Option-B

Correct Answer:- Option-C
Question46:-Operating costing is applicable in
A:-electricity companies
B:-water works
C:-shipping companies
D:-metal product companies
Correct Answer:- Option-D
Question47:-From the following which is not a part of job costing procedure
A:-production order
B:-cost of sales account