Economic Order Quantity (EOQ) is calculated to minimize: MCQ with Answer and Explanation

Question
Economic Order Quantity (EOQ) is calculated to minimize:
A. Material price variance
B. Selling costs
C. Total of ordering cost and inventory carrying cost
D. Factory rent
Answer: Option C
Solution (By JKSSB Mock Tests)
EOQ determines the optimal order size that perfectly balances and minimizes the costs of placing orders and holding inventory.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Question #1
S1: Depreciation is charged on all fixed assets except land. S2: Depreciation is charged on land if it is a freehold land. Which statement(s) is/are correct?
A. Neither S1 nor S2
B. S2 only
C. Both S1 and S2
D. S1 only
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Correct Answer: Option D

Explanation:
Depreciation is charged on all depreciable fixed assets. Land (specifically freehold land) has an unlimited useful life and is not depreciated. Leasehold land is depreciated over the lease term. S1 is correct, S2 is incorrect.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
The 'Baggage Rules' under Customs provide for:
A. Duty on all luggage
B. Duty-free allowances for passengers arriving in India
C. Duty on cargo
D. No allowance
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Correct Answer: Option B

Explanation:
Baggage Rules specify the quantity and value of goods that can be brought duty-free.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
The 'Green Accounting' is also known as:
A. Human resource accounting
B. Inflation accounting
C. Environmental accounting
D. Social accounting
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Correct Answer: Option C

Explanation:
Green accounting incorporates environmental costs and benefits.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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