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Annual Budget
The terms of trade measure:
The income of one country compared to another
The GDP of one country compared to another
The quantity of exports of one country compared to another
Export prices compared to import prices
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Comment
Annual Budget
A subsidy paid to the producers:
Shifts the supply curve
Shifts the demand curve
Leads to a contraction in supply
Leads to an contraction of supply
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rikazzz
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Annual Budget
If injections are greater than withdrawals:
National income will increase
National income will decrease
National income will stay in equilibrium
Prices will fall
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rikazzz
Comment
Annual Budget
“Reduction inflation is a more important objective than economic growth” is an example of:
Normative economics
Positive economics
Objective economics
Reality economics
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rikazzz
Comment
Annual Budget
Which of the following budgets would not form part of the master budget?
Cash budget
Income statement
Sales budget
Statement of financial position
Author:
rikazzz
Comment
Annual Budget
If annual consumption is 9000 units, the cost of reordering is £120 and the storage and holding cost per unit is £1.50, then the economic order quantity would be:
1200 units
600 units
849 units
765 units
Author:
rikazzz
Comment
Annual Budget
If the exchange rate is above the equilibrium level:
There is excess demand and the exchange rate will fall
There is excess supply and the exchange rate will fall
There is excess demand and the exchange rate will rise
There is excess supply and the exchange rate will rise
Author:
rikazzz
Comment
Annual Budget
The acronym OPT is budgeting would refer to:
Other people’s time
Organization, people, time
Optimized production technology
Optimized purchasing technology
Author:
rikazzz
Comment
Annual Budget
A fall in the value of the pound is likely to decrease spending on imports if:
The price elasticity of demand for imports is price elastic
The price elasticity of demand for imports is price inelastic
The price elasticity of demand for imports has a unit price elasticity
The price elasticity of demand for exports is price elastic
Author:
rikazzz
Comment
Annual Budget
An increase in income should:
Shift demand for an inferior product outwards
Shift demand for an inferior product inwards
Shift supply for an inferior product outwards
Shift supply for an inferior product inwards
Author:
rikazzz
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