INCOME TAX II SYLLABUS FOR EVEN 2025

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PART A UNIVERSITY QUESTION PAPER AND ANSWERS

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  SHORT ANSWER QUESTIONS AND ANSWERS 1. Define Cost Accounting. Cost accounting is a systematic process of recording, classifying, analyzing, and reporting costs associated with a business's operations. Its primary goal is to help management in planning, controlling, and decision-making regarding cost efficiency and profitability.   2. What is meant by cost centre? A cost centre is a segment of an organization to which costs can be attributed. It can be a department, a production line, or an activity. Managers of cost centres are responsible for the costs incurred within their area but do not directly generate revenue . 3. Define EOQ. EOQ is an inventory management formula that determines the optimal order quantity to minimize the total inventory costs, including ordering costs and holding costs. It aims to strike a balance between frequent small orders and infrequent large orders. 4. Explain ABC analysis. s :  ABC analysis is an inventory categorization tec...
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UNIT 2 & 3 QUESTION BANK

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