The 'Theory of Constraints' (TOC) in cost management focuses on: MCQ with Answer and Explanation

Explanation:
Audit risk = Inherent risk × Control risk × Detection risk.

Explanation:
Fictitious assets are deferred revenue expenditures (like preliminary expenses) that have no realizable value but are shown on the asset side of the balance sheet.

Explanation:
The accounting equation represents the balance sheet. It is derived from the Dual Aspect Concept, which states that every transaction has two equal and opposite effects, ensuring the equation always balances. R correctly explains A.