The term 'Cut Motion' in Parliament refers to: MCQ with Answer and Explanation

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The term 'Cut Motion' in Parliament refers to:

A. Proposal to increase expenditure

B. Motion to reduce a demand for grant

C. Motion to increase tax

D. Motion to dissolve government

Answer: Option B

Solution (By JKSSB Mock Tests)

Cut motion is moved to reduce the amount of a demand for grant.

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

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Question #1

The 'Subsequent Events' in audit refer to:

A. Events before the balance sheet date

B. All future events

C. Events occurring between the balance sheet date and date of auditor's report

D. Events after auditor's report

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Correct Answer: Option C

Explanation:
Auditors consider events after the reporting period up to the date of the report.

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

Question #2

The 'Expected Error' in audit sampling is:

A. Actual error after testing

B. The error the auditor expects to find in the population

C. Error in the sample only

D. The maximum acceptable error

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Correct Answer: Option B

Explanation:
Expected error is estimated before testing; it affects sample size.

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Question #3

Prime Cost consists of:

A. Direct Material + Direct Labor + Factory Overheads

B. Indirect Material + Indirect Labor + Indirect Expenses

C. Factory Cost + Administrative Overheads

D. Direct Material + Direct Labor + Direct Expenses

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Correct Answer: Option D

Explanation:
Prime cost is the aggregate of all direct costs: direct materials, direct labor, and direct/chargeable expenses.

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

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