What denotes in the fall in the exchange rate of one currency in terms of the others? This term is usually applies to the floating exchange rate______________?

A. Currency appreciation
B. Currency depreciation
C. Currency devaluation
D. Currency float

What is a secondary book of accounts, the information of which is obtained from the journal is called ?

A. Balanced sheet
B. Ledger
C. Worksheet
D. Trial balance

The original record of a business transaction is recorded in this book_____________?

A. Work book
B. Journal
C. Ledger
D. Account book

All the proceeds which are received by the business as a result of the sale of goods is called _________________?

A. Net income
B. Gross income
C. Net revenue
D. Total sales

All are classified under direct labor expenses EXCEPT one. Which one ?

A. Inspection cost
B. Testing cost
C. Assembly cost
D. Supervision cost

What is a measure of the average speed with which accounts receivable are collected ?

A. Current ratio
B. Quick ratio
C. Acid test ratio
D. Receivable turnover

The ratio of the net income before taxes to net sales is called __________________?

A. Current ratio
B. Inventory turnover
C. Profit margin ratio
D. Price-earnings ratio

Which of the following is an example of intangible asset ?

A. Cash
B. Investment in subsidiary companies
C. Furnitures
D. Patents

Lands, buildings, plants and machineries are example of what type of asset ?

A. Current asset
B. Trade investment asset
C. Fixed asset
D. Intangible asset

What refers to the interest rate at which the present work of the cash flow on a project is zero of the interest earned by an investment ?

A. Economic return
B. Yield
C. Rate of return
D. Return of investment