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Intermediate Financial Accounting Quiz
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Intermediate Financial Accounting Quiz

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Questions and Answers

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

  • Cost competitiveness, cost management, efficient use of resources, and structured approach to cost accounting (correct)
  • Emphasis on tax planning and evasion
  • Maximizing profits and minimizing expenses
  • Promotion of traditional accounting methods
  • What is the primary obligation of the Institute of Cost Accountants of India?

  • Providing legal services to businesses
  • Promoting marketing strategies
  • Regulating the profession of Cost and Management Accountancy (correct)
  • Maximizing shareholder wealth
  • What year was the Institute of Cost Accountants of India established?

  • 1959 (correct)
  • 1980
  • 1965
  • 1972
  • What are professionals associated with the Institute known as?

    <p>Cost and Management Accountants (CMAs)</p> Signup and view all the answers

    What does the Institute provide for its students as part of its obligation?

    <p>Coaching facilities</p> Signup and view all the answers

    Study Notes

    Vision and Obligations of the Institute of Cost Accountants of India

    • The Institute of Cost Accountants of India pursues a vision of being a premier professional institution, committed to the development and regulation of the profession of cost accountancy.

    History and Establishment

    • The Institute of Cost Accountants of India was established in 1959.

    Professionals Associated with the Institute

    • Professionals associated with the Institute of Cost Accountants of India are known as Cost Accountants.

    Obligations to Students

    • As part of its primary obligation, the Institute provides technical guidance, training, and education to its students.

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    Description

    Test your knowledge of financial accounting with this intermediate-level quiz. Covering topics such as cost and management accountancy, this quiz is a great way to gauge your understanding of the subject.

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