Self Studies
Self Studies
Self Studies
Self Studies
Selfstudy
Selfstudy

Fundamentals Areas of Business Test 18

Result Self Studies

Fundamentals Areas of Business Test 18
  • Score

    -

    out of -
  • Rank

    -

    out of -
TIME Taken - -
Self Studies

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Self Studies Self Studies
Weekly Quiz Competition
  • Question 1
    1 / -0
    ______ could be maximized by producing at large scale. 
    Solution
    The industrial revolution was the transition to new manufacturing process in the period from 1760 to sometime between 1820 and 1840. This transition includes going from hand production methods to  machine, new chemical manufacturing and iron production process. This gave rise to the development of machine tools and factory system. Due to the use of machine, large number of goods could be produced in a very short period of time. This increased the profitability of the products and company earned good revenue.
  • Question 2
    1 / -0
    In SCM, ________ production methods is similar except that the problem of rest/idle production/batch queuing is eliminated in _________.
  • Question 3
    1 / -0
    Producing on a large scale reduces the _________ of the product.
    Solution
    The industrial revolution was the transition to new manufacturing process in the period from 1760 to sometime between 1820 and 1840. This transition includes going from hand production methods to  machine, new chemical manufacturing and iron production process. This gave rise to the development of machine tools and factory system. Due to the use of machine, large number of goods could be produced in a very short period of time. Vast number of goods were produced in a smaller period of time due to which the average cost of production reduced. This increased the profitability of the products and company earned good revenue.
  • Question 4
    1 / -0
    In marketing the law of _________ is followed.
  • Question 5
    1 / -0
    Due to the demand of _______ goods, the demand exceeded the supply during the early days of industrial revolution.
    Solution
    The industrial revolution was the transition to new manufacturing process in the period from 1760 to sometime between 1820 and 1840. This transition includes going from hand production methods to  machine, new chemical manufacturing and iron production process. This gave rise to the development of machine tools, industrial goods and factory system.
  • Question 6
    1 / -0
    Which of the following is/are external users of accounting information?
    Solution
    There are various agencies or stake holders interested to know about the accounting information. These stakeholders may be internal and external. 
    Accounts are prepared by the organization by following the compliance of various acts. 
    Shareholders, creditors and government agencies are considered as the external agencies which are interested to know about the accounting information. 
    Various agencies are interested to know about the accounts to ensure that organization is following the various laws applicable. 
    These regulatory agencies may includes Income Tax Authorities, Company Law Board, Registrar of Companies, SEBI, RBI etc.
  • Question 7
    1 / -0
    Which of the following would be considered as external users of accounting information's?
    Solution
    There are number of users who are interested in the accounting information relating to the business. These users may be classified as internal and external users. 
    1) Owner
    2) Management
    3) Creditors
    4) Employees
    5) Investors/Shareholders
    6) Government
    7) Researchers
    Shareholders since not related to the management of business operations are considered as external users.
  • Question 8
    1 / -0
    Which of the following is/are the advantages of accounting?
    Solution
    Accounting plays an important and useful role for the businessman. Following are the points which shows the advantages of accounting:

    1) It helps in decision making relating to financial aspect
    2) It is helpful in comparison
    3) It provides information regarding costs
    4) It provides information to interested parties 
    5) It provides the evidence in the court of law
    6) It provides the value of the business.
  • Question 9
    1 / -0
    Which of the following are internal users of accounting information?
    Solution
    There are various agencies or stake holders interested to know about the accounting information. These stakeholders may be internal and external. 
    Accounts are prepared by the organization by following the compliance of various acts. Various agencies are interested to know about the accounts to ensure that organization is following the various laws applicable. 

    Board of directors, Partners and Mangers are considered as internal users. 
  • Question 10
    1 / -0
    Select the odd on in relation to users of accounting information.
    Solution
    Officers, Mangers and Board of directors are the team of employees and board. 

    Debtors are those to whom company has sold goods on credit. These are part of current assets. 
Self Studies
User
Question Analysis

  • Correct -

  • Wrong -

  • Skipped -

My Perfomance
  • Score

    -

    out of -
  • Rank

    -

    out of -
Re-Attempt Weekly Quiz Competition
Self Studies Get latest Exam Updates
& Study Material Alerts!
No, Thanks
Self Studies
Click on Allow to receive notifications
Allow Notification
Self Studies
Self Studies Self Studies
To enable notifications follow this 2 steps:
  • First Click on Secure Icon Self Studies
  • Second click on the toggle icon
Allow Notification
Get latest Exam Updates & FREE Study Material Alerts!
Self Studies ×
Open Now