GCL:
FILL IN THE BLANKS:
1. __________ means a statement given by judge on grounds of a decree or order.
STATE WITH REASONS(true or false):
1. The expressions 'equality before law' and 'equal protection of laws' used in Article 14 of the Constitution of India have same meaning.
2. The court of an assistant sessions judge can pass a sentence of imprisonment for a term exceeding 10 years.
3. An arbitral tribunal while conducting its proceedings is not bound to follow the procedure agreed to by the parties.
COMPANY ACCOUNTS, COST AND MANAGEMENT ACCOUNTING:
State with reasons(true or false)
1. Service costing is used in industries producing goods.
2. Variable cost per unit keeps on varying with rise in output.
3. Piece rate system of wages is suitable when quality of goods produced is of extreme importance.
4. Escalation clause in a contract provides that the contract price is fixed.
5. Rent on own building is not included in cost accounts.
Fill in the blanks:
a. Material loses due to abnormal reasons should be transferred to __________
b. Re-ordering level = Maximum consumption x __________
c. Cost which are ascertained after they have been incurred are known as _________
d. the ratio of total liquid assets to current liabilities is known as _________
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