The 'Operating Profit' is calculated as: MCQ with Answer and Explanation

Question
The 'Operating Profit' is calculated as:
A. Gross profit - Operating expenses
B. EBITDA - Depreciation
C. Sales - Cost of goods sold
D. Net profit + Interest
Answer: Option A
Solution (By JKSSB Mock Tests)
Operating profit = Gross profit - Operating expenses (administrative, selling).
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Practice More Accountancy and Book Keeping Questions

Question #1
Which of the following is a 'Liability of a Partner' in a general partnership?
A. Unlimited
B. Only for his own acts
C. Limited to firm's assets
D. Limited to his capital
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Correct Answer: Option A

Explanation:
In a general partnership, all partners have unlimited joint and several liability.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
The 'Deemed Exports' under GST are:
A. High sea sales
B. Supplies to SEZ
C. Supplies that do not leave India but are treated as exports for certain benefits
D. All interstate supplies
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Correct Answer: Option C

Explanation:
Deemed exports are specified transactions where goods supplied do not leave India, but the supplier is entitled to refund of GST.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
The 'Trial Balance' is a:
A. Principal book
B. Memorandum book
C. Statement
D. Subsidiary book
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Correct Answer: Option C

Explanation:
It is a statement, not a book of accounts.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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