Foundation Fundamentals of Financial and Cost Accounting Quiz
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Questions and Answers

What year was The Institute of Cost Accountants of India set up under an Act of Parliament?

  • 1965
  • 1980
  • 1972
  • 1959 (correct)

    • What is the primary obligation of The Institute of Cost Accountants of India?

  • Enrols students for legal courses
  • Provides coaching facilities to medical students
  • Conducts research in the field of Astrophysics
  • Regulates the profession of Cost and Management Accountancy (correct)

    • What specialized knowledge do the professionals associated with The Institute of Cost Accountants of India possess?

  • Conducting psychological counseling
  • Performing heart surgeries
  • Developing software applications
  • Evaluating operating efficiency and strategic management (correct)

    • What vision does The Institute of Cost Accountants of India pursue?

    <p>Cost competitiveness, cost management, efficient use of resources and structured approach to cost accounting</p> Signup and view all the answers

    When was The Institute of Cost Accountants of India established?

    <p>1959</p> Signup and view all the answers

    What is the current emphasis in the profession associated with The Institute of Cost Accountants of India?

    <p>Management of resources</p> Signup and view all the answers

    What is the primary obligation of The Institute of Cost Accountants of India?

    <p>Regulating the profession of Cost and Management Accountancy</p> Signup and view all the answers

    What is the vision pursued by The Institute of Cost Accountants of India?

    <p>Cost competitiveness, cost management, efficient use of resources, and structured approach to cost accounting</p> Signup and view all the answers

    What do the professionals regulated by The Institute of Cost Accountants of India specialize in?

    <p>Cost and Management Accountancy</p> Signup and view all the answers

    What does The Institute of Cost Accountants of India emphasize in the current context?

    <p>Management of resources, evaluating operating efficiency, and strategic management</p> Signup and view all the answers

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