Which standard ensures consistency in classifying cash flows from operating, investing, and financing activities in India? MCQ with Answer and Explanation
Explanation:
The e-Payroll module in PFMS is designed to digitize the generation, processing, and payment of salary bills for government employees, ensuring transparency and reducing paperwork.
S1: Marginal costing distinguishes between fixed and variable costs. S2: Absorption costing distinguishes between fixed and variable costs. Which statement(s) is/are correct?
Explanation:
Marginal costing strictly separates costs into fixed and variable components. Absorption costing (traditional costing) charges all manufacturing costs (both fixed and variable) to the product, without this strict separation for decision making. S1 is correct, S2 is incorrect.
Explanation:
Real and Personal accounts reflect assets, liabilities, and equity; they are not closed but carried forward to the next period as opening balances.
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