The 'Cost Accounting Standards' are issued by: MCQ with Answer and Explanation

Explanation:
Profit on sale of a capital asset (like long-term investment) is capital profit. Profit on sale of goods is revenue.

Explanation:
Vouching is the primary audit procedure involving the inspection of vouchers (receipts, invoices) to verify the authenticity of transactions. It ensures transactions are authorized, accurate, and recorded. Both are correct.

Explanation:
PFMS ensures transparency, tracking of fund utilization down to the lowest level, and Direct Benefit Transfers directly into beneficiaries' accounts.