Name the method of inventory accounting in which the oldest remaining items are assumed to have been first sold ?

A. fifo (first in first out)
B. lafo (last in first out)
C. first come first serve
D. none of these

Endorsement means anything written upon the back of the document What does means by Endorse ?

A. to verify signature
B. to verify the person holding cheque
C. to sign one’s name upon the back of cheque
D. to sign one’s name upon the front of cheque

There is method by which one currency is bought, sold or valued in terms of other currencies, gold or accounting units such as the Special Drawing Right of IMF. What is it called ?

A. currency exchange
B. currency value
C. currency value
D. exchange rate

Which money is called ‘Earnest’ Money ?

A. advanced payment to bind a contract or bargain
B. a token of something to come
C. a promise or assurance
D. all of these

Downsizing is______________?

A. to make in a smaller size
B. to make in a actual size
C. to make in a half size
D. none of the above

Different workers or group of workers separate the production works and trade into__________processes. What this separation is called?

A. divided labor
B. closed shop
C. division of labor
D. open shop

What does mean by Deed________________?

A. legal instrument used to grand a right
B. something done
C. legal instrument
D. none of the above

What is referred by the discount rate________________?

A. advance deduction of the interest in purchasing, selling or lending a commercial paper
B. state (central) bank’s interest rate on loans to its member banks
C. both of them
D. none of them

Which term is used for a bank account which can be operated at will ?

A. saving account
B. fixed account
C. current account
D. fluctuated account

What is Demand note ?

A. draft payable in lawful money upon demand
B. cheque payable in lawful money upon demand
C. security payable in lawful money upon demand
D. term deposit payable in lawful money upon demand