The difference between standard cost and actual cost is called: MCQ with Answer and Explanation

Explanation:
Direct taxes, like Income Tax and Wealth Tax, are levied directly on the income and wealth of individuals or entities. The burden of direct taxes cannot be shifted to someone else. S1 is correct, S2 is incorrect.

Explanation:
Keyman insurance policy proceeds/surrender value are taxable as business income.

Explanation:
At a macro level, social accounting (or national income accounting) measures the economic activity, income, and expenditure of a nation.