(A) The intercepts of the budget line will increase.
(B) The intercepts of the budget line will decrease.
(C) The slope of the budget line may either increase or decrease.
(D) There will be no effect on the budget line.
An increase in income, holding prices constant, can be represented as:
(A) A change in the slope of the budget line.
(B) A parallel outward shift in the budget line.
(C) An outward shift in the budget line with its slope becoming flatter.
(D) A parallel inward shift in the budget line.
The slope of an indifference curve reveals:
(A) That preferences are complete.
(B) The marginal rate of substitution of one good for another good.
(C) The ratio of market prices.
(D) That preferences are transitive.
The capital of a non-profit organization is generally known as?
(A) Equity
(B) Accumulated Fund
(C) Finance Reserve
(D) Cash Fund
The receipts and payments account of a non-profit organization is a?
(A) Nominal Account
(B) Real Account
(C) Income Statement Account
(D) Financial Account
To obtain the amount of credit sales made during an accounting period, which account is generally used in single entry and incomplete records?
(A) Payable Account
(B) Total Revenue Account
(C) Debtors Account
(D) Stock Account
Under sales on return or approval basis, the ownership of goods is passed only?
(A) When the retailer gives his approval
(B) If the goods are not returned within specified period.
(C) Both (a) and (b)
(D) None of the above
Which of these expenses are not included in valuation of closing stock lying with the consignee?
(A) Freight and insurance
(B) Loading and unloading incurred
(C) Godown rent
(D) Custom duties