The 'Anti-Dumping Duty' is imposed to: MCQ with Answer and Explanation

Question

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The 'Anti-Dumping Duty' is imposed to:

A. Promote exports

B. Reduce customs duty

C. Increase imports

D. Protect domestic industry from cheap imports sold below normal value

Answer: Option D

Solution (By JKSSB Mock Tests)

Anti-dumping duty is a trade remedy measure.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

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An audit that is conducted between two annual audits is called:

A. Continuous audit

B. Interim audit

C. Final audit

D. Statutory audit

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Correct Answer: Option B

Explanation:
Interim audit is performed in between the year, often for dividend declaration or half-yearly results.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

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Financial audit is conducted mainly to:

A. Calculate tax liability

B. Detect frauds and errors

C. Evaluate management performance

D. Express an opinion on the true and fair view of financial statements

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Correct Answer: Option D

Explanation:
The primary objective of a financial audit is to express an independent opinion on whether the financial statements present a true and fair view.

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Question #3

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The 'Performance Budgeting' technique focuses on:

A. Past performance

B. Inputs only

C. Cash flows

D. Outputs and outcomes

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Correct Answer: Option D

Explanation:
Performance budgeting links funding to results, emphasizing outputs and outcomes rather than just expenditure.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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