811. A quantitative expression of management objectives is an:
A. Organizational chart
B.Management chart
C. Budget
D. Procedural chart
E. None of these

812. At break-even point of 400 units sold the variable costs were Rs. 400 and the fixed costs were Rs.200. What will be the 401 units sold contributing to profit before income tax?
A.Rs. 0.00
B.Rs. 0.50
C.Rs. 1.00
D.Rs. 1.50
E. None of these

813. In considering a special order situation that will enable a company to make use of currently idle capacity, which of the following cost will be irrelevant:
A. Materials
B. Depreciation
C. Direct labour
D. Variable factory overhead
E. None of these

814. Completion of a job is result in:
A. DR finished goods …….. CR WIP
B. DR Cost of goods ……… CR finished goods
C. DR WIP …………………….. CR FOH control
D. DR FOH control ………… CR FOH applied
E. None of these

815. AsperSection139oftheCompaniesAct2013,Companycanappoint____________as an auditor.
A.individual Chartered Accountant
B.Chartered Accountant Firm
C.Either of the above
D.individual Cost Accountant

816. Aspersection141oftheCompaniesAct,2013,apersonshallbeeligibleforappointment as an auditor of a company if he is a ___________.
A.Chartered Accountant whether having Certificate of Practice or not
B.Chartered Accountant having Certificate of Practice
C.Chartered Accountant or Cost Accountant having Certificate of Practice

817. Wherealimitedliabilitypartnershipisappointedasanauditorofacompany,whoshallbeauthorised to act and sign on behalf of the firm?
A.Any of the partners of the Firm.
B.Only the partners who are Chartered Accountants.
C.LLP cannot be appointed as an Auditor of a company.
D.Only the Managing Partner of the Firm.

818. Who among the following shall not bed is qualified from being appointed as an auditor ofthe company as per section 141 of the Companies Act 2013?
A.Person having business relationship with the company.
B.Person whose relative is a key management person or director.
C.Partner or employee of an officer or employee of the company.
D.None of the above

819. Theterm“businessrelationship”shallbeconstruedasanytransactionenteredintoforacommercial purpose, except commercial transactions which are in the nature of?
A.Professional services
B.Arm’s Length Price transactions
C.Both of the above
D. Related services

820. Apersonwhose________isadirectorinthecompanyshallbedisqualifiedtobeappointed as auditor of that company.
A.Step – Father
B.Spouse
C.Step – Brother
D.Any one of the above

NOTE
IF YOU THINK ANY OF THE MCQ ABOVE IS WRONG.
PLEASE COMMENT WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION IN COMMENT BOX.
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