781. The Basic accounting equation is___________?
A: Asset = Expense + Income
B: Assets = Capital + Liabilities
C: Assets = Cash + Capital
D: Assets = Expenses + Capital
782. The normal balance of a rent expense account is_____________?
A: Debit balance
B: Credit balance
C: Cash balance
D: Neither debit nor credit balance
783. Revenue and expense accounts are referred to as______________?
A: Nominal accounts
B: Real account
C: Cash accounts
D: Banks account
784. The real accounts are accounts of Assets, liabilities, and _?
A: Expenses
B: Revenues
C: Capital
D: Drawing
785. Building account is classified as _ account?
A: Nominal
B: Real
C: Cash
D: Capital
786. Expected annual usage of a particular raw material is 2,00,000 units and the economic order quantity is 10,000 units. The invoice cost of each unit is Rs. 500, and the cost to place one order is Rs. 80 The average inventory is:
A. 1,00,000 Units
B. 5,000 Units*
C. 10,000 Units
D. 7,500 Units
787. Taking the data in Q 3.21 Above, the estimated annual ordering cost is:
A. Rs, 1,600
B. Rs, 10,000
C. Rs. 3,200
D. Rs, 5,000
788. One the basis of data given in Q 3.21, the number of orders to be placed in each year is:
A. 10
B. 50
C. 20
D. 100
789. When material prices are showing a rising trend, which method of pricing will show a lower cost of production:
A. FIFO
B. LIFO
C. Weighted average
D. Replacement price
790. In periods of rising prices, Which method of pricing shows higher stock values:
A. FIFO
B. LIFO
C. Weighted average
D. Replacement price
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