The 'Labour Turnover' rate measures: MCQ with Answer and Explanation

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The 'Labour Turnover' rate measures:

A. Efficiency of workers

B. Absenteeism

C. Rate of change in labour force

D. Overtime

Answer: Option C

Solution (By JKSSB Mock Tests)

Labour turnover indicates the frequency of employees leaving and being replaced.

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

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Question #1

The 'Equalisation Levy' at 6% applies to:

A. Specified services like online advertisement provided by non-residents

B. E-commerce operators

C. All goods

D. All digital services

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Correct Answer: Option A

Explanation:
Equalisation levy at 6% is on consideration for specified digital services by non-residents; a separate 2% levy on e-commerce supply.

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Question #2

The main purpose of preparing a Trial Balance is:

A. To check the arithmetical accuracy of ledger accounts

B. To know the financial position

C. To detect frauds

D. To prepare final accounts

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Correct Answer: Option A

Explanation:
Trial balance ensures that total debits equal total credits, verifying posting and balancing accuracy.

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Question #3

Budgetary control system involves:

A. Fixing selling price

B. Only preparing cash budget

C. Setting long-term objectives

D. Comparing actual figures with budgeted figures

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Correct Answer: Option D

Explanation:
Budgetary control is the establishment of budgets relating to responsibilities of executives to the requirements of a policy and the continuous comparison of actual with budgeted results.

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