BEFA II Mid Objective Bit Bank PDF

BEFA - II MID OBJECTIVE BIT BANK ================================ UNIT- III Production, Cost, Market Structures & Pricing ======================================================= 1. Production function is also known as [input output relationship.] 2. [Fixed] inputs are a factor affecting pro...

BEFA - II MID OBJECTIVE BIT BANK ================================ UNIT- III Production, Cost, Market Structures & Pricing ======================================================= 1. Production function is also known as [input output relationship.] 2. [Fixed] inputs are a factor affecting production. 3. The [Break-even point] is reached when total revenue equals total costs, resulting in neither profit nor loss. 4. [Break even] analysis refer to the study of cost price margin analysis. 5. Going rate price is kind of [competition based] pricing methods. 6. In [monopolistic] competition, firms produce products that are differentiated in terms of quality, features, and branding. 7. Tenders are based on [sealed bid] pricing. 8. [Promotion of brand loyalty] strategy is used by organizations to retain loyal customers to stiff competition 9. The pricing strategy where the company fixes very high price for its new product is called [Market skimming.] 10. [ Price Discrimination] refers to the practice of charging different prices to customers for the same good. UNIT - IV Financial Accounting ============================== 1. The Trading and Profit & Loss account is also called as [income statement.] 2. Accounting helps to [monitor business activities.] 3. The [Ledger] contains all the accounts and summarizes the transactions recorded in the journal. 4. [Fixed assets] are which purchased for permanent use in the business. 5. Management accounting starts where [financial accounting] ends. 6. Balance sheet is prepared to know the [financial position] of a business entity. 7. The moment transactions take place in business where do we record? Journal 8. Recording two aspects of each transaction is called [double entry system.] 9. Profit and Loss Account calculates [Net Profit or Net Loss] by deducting operating expenses from gross profit. 10. [Going concern concept] assumes that every business firm continues forever and it has a perpetual life. UNIT -V Financial Analysis through Ratios ========================================= 1. [Stock] is not included in the current assets. 2. [Turnover] ratios measure how efficiently a company uses its assets to generate sales. 3. [Solvency ratio] measures the long-term obligation of a firm. 4. [Purchase of fixed assets] is not a source of cash. 5. [Activity ratio] measures the efficiency or effectiveness with which offer manages its resources. 6. Funds Flow statement is prepared to analyze the changes in the company\'s [financial] position. 7. [Liquidity] ratios measure a company\'s ability to meet its short-term obligations. 8. [Profitability] ratio assesses overall efficiency of business concern. 9. A company's return on investment indicates its [Profitability.] 10. The statement of changes in financial position shows the [sources] and uses of funds.