Annual Budget

15 units

60 units

25 units

90 units

80% Favourable.

20% Favourable.

18% Favourable.

None of these

Expenses being paid on time

Not taking credit from suppliers

Cash sales

Cash drawings

A higher equilibrium price and output

A lower equilibrium price and higher output

A lower equilibrium price and output

A higher equilibrium price and lower output

Will cause an inward shift of demand

Will cause an outward shift of supply

May be caused by a fall in demand

Leads to a higher level of production

Cash sales are made when cash is received at the same time as the goods or services are delivered

Credit sales are made when the payment is received after the goods or services have been delivered

Cash purchases are those purchases foe which cash payment will be made at the same time as the goods or services are received

Credit purchases are when the goods or services have not yet been received by the business and payment has not yet been made

Just in time

Production budgeting

Economic order quantity

Total quantity management

Total revenue equals total costs

There is the biggest positive difference between total revenue and total cost

There is the biggest negative difference between total revenue and total cost

Profits are zero

75 rupees

75 rupees

73 rupees

None of these

Real GDP per capita

Real GDP

Real GDP (population)

Real GDP plus depreciation