The primary regulator of Mutual Funds in India is: MCQ with Answer and Explanation

Explanation:
Trading account compares direct revenues (sales) with direct costs (purchases, direct expenses) to find the Gross Profit or Loss.

Explanation:
Standard costing uses predetermined (standard) costs to compare with actual costs, allowing for variance analysis and cost control.

Explanation:
A joint venture is formed for a specific, short-term purpose and terminates upon completion, making it a temporary partnership. Unlike a company, it does not have a separate legal entity distinct from its co-venturers. S1 is correct, S2 is incorrect.