S1: Standard costing is a technique of cost ascertainment. S2: Standard costing is a technique of cost control. Which statement(s) is/are correct? MCQ with Answer and Explanation
S1: Standard costing is a technique of cost ascertainment. S2: Standard costing is a technique of cost control. Which statement(s) is/are correct?
A. Neither S1 nor S2
B. Both S1 and S2
C. S1 only
D. S2 only
Answer: Option D
Solution (By JKSSB Mock Tests)
Standard costing is primarily a technique of cost control and performance evaluation, not just cost ascertainment. While it involves setting standards, its main purpose is to compare actuals with standards to find variances. S1 is incorrect, S2 is correct.
S1: PFMS is a platform for all direct benefit transfers. S2: PFMS is integrated with the Core Banking System of banks. Which statement(s) is/are correct?
Explanation:
PFMS is the primary platform for Direct Benefit Transfers (DBT) under various government schemes. It is integrated with the Core Banking Systems (CBS) of all banks to ensure seamless and direct credit to beneficiaries' accounts. Both are correct.
Explanation:
A joint venture is formed for a specific, short-term purpose and terminates upon completion, making it a temporary partnership. Unlike a company, it does not have a separate legal entity distinct from its co-venturers. S1 is correct, S2 is incorrect.
No comments yet. Be the first to start the discussion!