DIRECTIONS for the question: Read the following passage and answer.
It has long been customary to prepare a balance sheet for the financial year. This gives a bird’s eye view of the state of the firm at the end of that year. It provides a static view of the business. Comparison of the returns over a period of years provides information regarding the progress which is being made. And the dynamic view is more important for the purpose of estimating future prospects than the static.
But in such accounts the unit is the Firm, or an establishment or department under the control of that firm, the unit with which the Firm itself works is the product which it makes and sells, and the balance sheet is built up from the series of transactions connected with that unit. The achievement of cost accountancy is to provide a continuous balance sheet for the product or process unit, and thereby to afford information of extreme value to the Firm.
A good system of cost accounting serves many purposes. First it enables the manufacturer, by weekly examining one special card, to read the past history of the production of any article. He may compare costs at different times, or under different methods of manufacture, and so locate waste and inefficiency. By comparing a group of cards, each giving the factory history of one article or process, he is able to determine the relative profitableness of different classes of work. This knowledge in turn enables him to determine the line of most profitable advance if he decides to extend his factory, or the most advantageous class of work to surrender to his competitors if there is no room for further expansion. It is not suggested that a good system of costing is a guarantee of profit. Success in business will depend upon the qualities of the manufacturer. “Business” is an art, not a science. No amount of scientific knowledge will compensate for the absence of the personal qualities necessary in industry. Nevertheless detailed and accurate information will serve as a valuable guide, and will give the business “instinct” far greater scope than it would otherwise enjoy. Elaborate accounts provide that information, and thus represent, within limits, economy rather than waste.
Moreover, as one authority and pioneer states, they serve “as an undoubted moral check: a proper cost system is a silent, unseen power felt by every employee, a power he himself willingly or unwillingly puts and keeps in operation; it works alongside of him, and is automatic and inexorable.” This very power of checking results sometimes forms one of the obstacles in getting a cost system introduced. Managers and clerical staff who work away in rule-of-thumb fashion, guessing and approximating, charging too much here and too little there, dread the revelations which would result from the searchlight effect of a scientific record.
Finally, cost accounting is an indispensable preliminary to estimating any scientific plan. Many manufacturers still underrate the importance of the function of the estimating clerk. Foolish price-cutting inevitably follows, and contracts which appear at first not unprofitable are ultimately found to be extremely unremunerative. It is assumed that during a period of depression, contracts which cover prime or direct costs are less unprofitable than idleness. Even when normal conditions are restored, the firm is apt to make wrong estimates of the additional costs of manufacture.
Q. Which of the following sentences contain the crux of the passage?
DIRECTIONS for the question: Read the following passage and answer.
It has long been customary to prepare a balance sheet for the financial year. This gives a bird’s eye view of the state of the firm at the end of that year. It provides a static view of the business. Comparison of the returns over a period of years provides information regarding the progress which is being made. And the dynamic view is more important for the purpose of estimating future prospects than the static.
But in such accounts the unit is the Firm, or an establishment or department under the control of that firm, the unit with which the Firm itself works is the product which it makes and sells, and the balance sheet is built up from the series of transactions connected with that unit. The achievement of cost accountancy is to provide a continuous balance sheet for the product or process unit, and thereby to afford information of extreme value to the Firm.
A good system of cost accounting serves many purposes. First it enables the manufacturer, by weekly examining one special card, to read the past history of the production of any article. He may compare costs at different times, or under different methods of manufacture, and so locate waste and inefficiency. By comparing a group of cards, each giving the factory history of one article or process, he is able to determine the relative profitableness of different classes of work. This knowledge in turn enables him to determine the line of most profitable advance if he decides to extend his factory, or the most advantageous class of work to surrender to his competitors if there is no room for further expansion. It is not suggested that a good system of costing is a guarantee of profit. Success in business will depend upon the qualities of the manufacturer. “Business” is an art, not a science. No amount of scientific knowledge will compensate for the absence of the personal qualities necessary in industry. Nevertheless detailed and accurate information will serve as a valuable guide, and will give the business “instinct” far greater scope than it would otherwise enjoy. Elaborate accounts provide that information, and thus represent, within limits, economy rather than waste.
Moreover, as one authority and pioneer states, they serve “as an undoubted moral check: a proper cost system is a silent, unseen power felt by every employee, a power he himself willingly or unwillingly puts and keeps in operation; it works alongside of him, and is automatic and inexorable.” This very power of checking results sometimes forms one of the obstacles in getting a cost system introduced. Managers and clerical staff who work away in rule-of-thumb fashion, guessing and approximating, charging too much here and too little there, dread the revelations which would result from the searchlight effect of a scientific record.
Finally, cost accounting is an indispensable preliminary to estimating any scientific plan. Many manufacturers still underrate the importance of the function of the estimating clerk. Foolish price-cutting inevitably follows, and contracts which appear at first not unprofitable are ultimately found to be extremely unremunerative. It is assumed that during a period of depression, contracts which cover prime or direct costs are less unprofitable than idleness. Even when normal conditions are restored, the firm is apt to make wrong estimates of the additional costs of manufacture.
Q. The author suggests that even a good system of cost accounting can be a deterrent because
1 Crore+ students have signed up on EduRev. Have you? Download the App |
DIRECTIONS for the question: Read the following passage and answer.
It has long been customary to prepare a balance sheet for the financial year. This gives a bird’s eye view of the state of the firm at the end of that year. It provides a static view of the business. Comparison of the returns over a period of years provides information regarding the progress which is being made. And the dynamic view is more important for the purpose of estimating future prospects than the static.
But in such accounts the unit is the Firm, or an establishment or department under the control of that firm, the unit with which the Firm itself works is the product which it makes and sells, and the balance sheet is built up from the series of transactions connected with that unit. The achievement of cost accountancy is to provide a continuous balance sheet for the product or process unit, and thereby to afford information of extreme value to the Firm.A good system of cost accounting serves many purposes. First it enables the manufacturer, by weekly examining one special card, to read the past history of the production of any article. He may compare costs at different times, or under different methods of manufacture, and so locate waste and inefficiency. By comparing a group of cards, each giving the factory history of one article or process, he is able to determine the relative profitableness of different classes of work. This knowledge in turn enables him to determine the line of most profitable advance if he decides to extend his factory, or the most advantageous class of work to surrender to his competitors if there is no room for further expansion. It is not suggested that a good system of costing is a guarantee of profit. Success in business will depend upon the qualities of the manufacturer. “Business” is an art, not a science. No amount of scientific knowledge will compensate for the absence of the personal qualities necessary in industry. Nevertheless detailed and accurate information will serve as a valuable guide, and will give the business “instinct” far greater scope than it would otherwise enjoy. Elaborate accounts provide that information, and thus represent, within limits, economy rather than waste.
Moreover, as one authority and pioneer states, they serve “as an undoubted moral check: a proper cost system is a silent, unseen power felt by every employee, a power he himself willingly or unwillingly puts and keeps in operation; it works alongside of him, and is automatic and inexorable.” This very power of checking results sometimes forms one of the obstacles in getting a cost system introduced. Managers and clerical staff who work away in rule-of-thumb fashion, guessing and approximating, charging too much here and too little there, dread the revelations which would result from the searchlight effect of a scientific record.
Finally, cost accounting is an indispensable preliminary to estimating any scientific plan. Many manufacturers still underrate the importance of the function of the estimating clerk. Foolish price-cutting inevitably follows, and contracts which appear at first not unprofitable are ultimately found to be extremely unremunerative. It is assumed that during a period of depression, contracts which cover prime or direct costs are less unprofitable than idleness. Even when normal conditions are restored, the firm is apt to make wrong estimates of the additional costs of manufacture.
Q. The passage does not suggest that a good system of cost accounting
DIRECTIONS for the question: Read the following passage and answer.
It has long been customary to prepare a balance sheet for the financial year. This gives a bird’s eye view of the state of the firm at the end of that year. It provides a static view of the business. Comparison of the returns over a period of years provides information regarding the progress which is being made. And the dynamic view is more important for the purpose of estimating future prospects than the static.
But in such accounts the unit is the Firm, or an establishment or department under the control of that firm, the unit with which the Firm itself works is the product which it makes and sells, and the balance sheet is built up from the series of transactions connected with that unit. The achievement of cost accountancy is to provide a continuous balance sheet for the product or process unit, and thereby to afford information of extreme value to the Firm.
A good system of cost accounting serves many purposes. First it enables the manufacturer, by weekly examining one special card, to read the past history of the production of any article. He may compare costs at different times, or under different methods of manufacture, and so locate waste and inefficiency. By comparing a group of cards, each giving the factory history of one article or process, he is able to determine the relative profitableness of different classes of work. This knowledge in turn enables him to determine the line of most profitable advance if he decides to extend his factory, or the most advantageous class of work to surrender to his competitors if there is no room for further expansion. It is not suggested that a good system of costing is a guarantee of profit. Success in business will depend upon the qualities of the manufacturer. “Business” is an art, not a science. No amount of scientific knowledge will compensate for the absence of the personal qualities necessary in industry. Nevertheless detailed and accurate information will serve as a valuable guide, and will give the business “instinct” far greater scope than it would otherwise enjoy. Elaborate accounts provide that information, and thus represent, within limits, economy rather than waste.
Moreover, as one authority and pioneer states, they serve “as an undoubted moral check: a proper cost system is a silent, unseen power felt by every employee, a power he himself willingly or unwillingly puts and keeps in operation; it works alongside of him, and is automatic and inexorable.” This very power of checking results sometimes forms one of the obstacles in getting a cost system introduced. Managers and clerical staff who work away in rule-of-thumb fashion, guessing and approximating, charging too much here and too little there, dread the revelations which would result from the searchlight effect of a scientific record.
Finally, cost accounting is an indispensable preliminary to estimating any scientific plan. Many manufacturers still underrate the importance of the function of the estimating clerk. Foolish price-cutting inevitably follows, and contracts which appear at first not unprofitable are ultimately found to be extremely unremunerative. It is assumed that during a period of depression, contracts which cover prime or direct costs are less unprofitable than idleness. Even when normal conditions are restored, the firm is apt to make wrong estimates of the additional costs of manufacture.
Q. In this context ‘a searchlight effect’ would
DIRECTIONS for the question: Read the following passage and answer.
It has long been customary to prepare a balance sheet for the financial year. This gives a bird’s eye view of the state of the firm at the end of that year. It provides a static view of the business. Comparison of the returns over a period of years provides information regarding the progress which is being made. And the dynamic view is more important for the purpose of estimating future prospects than the static.
But in such accounts the unit is the Firm, or an establishment or department under the control of that firm, the unit with which the Firm itself works is the product which it makes and sells, and the balance sheet is built up from the series of transactions connected with that unit. The achievement of cost accountancy is to provide a continuous balance sheet for the product or process unit, and thereby to afford information of extreme value to the Firm.
A good system of cost accounting serves many purposes. First it enables the manufacturer, by weekly examining one special card, to read the past history of the production of any article. He may compare costs at different times, or under different methods of manufacture, and so locate waste and inefficiency. By comparing a group of cards, each giving the factory history of one article or process, he is able to determine the relative profitableness of different classes of work. This knowledge in turn enables him to determine the line of most profitable advance if he decides to extend his factory, or the most advantageous class of work to surrender to his competitors if there is no room for further expansion. It is not suggested that a good system of costing is a guarantee of profit. Success in business will depend upon the qualities of the manufacturer. “Business” is an art, not a science. No amount of scientific knowledge will compensate for the absence of the personal qualities necessary in industry. Nevertheless detailed and accurate information will serve as a valuable guide, and will give the business “instinct” far greater scope than it would otherwise enjoy. Elaborate accounts provide that information, and thus represent, within limits, economy rather than waste.
Moreover, as one authority and pioneer states, they serve “as an undoubted moral check: a proper cost system is a silent, unseen power felt by every employee, a power he himself willingly or unwillingly puts and keeps in operation; it works alongside of him, and is automatic and inexorable.” This very power of checking results sometimes forms one of the obstacles in getting a cost system introduced. Managers and clerical staff who work away in rule-of-thumb fashion, guessing and approximating, charging too much here and too little there, dread the revelations which would result from the searchlight effect of a scientific record.
Finally, cost accounting is an indispensable preliminary to estimating any scientific plan. Many manufacturers still underrate the importance of the function of the estimating clerk. Foolish price-cutting inevitably follows, and contracts which appear at first not unprofitable are ultimately found to be extremely unremunerative. It is assumed that during a period of depression, contracts which cover prime or direct costs are less unprofitable than idleness. Even when normal conditions are restored, the firm is apt to make wrong estimates of the additional costs of manufacture.
Q. Inexorable means
DIRECTIONS for the question: Choose the option which is most Opposite in meaning of the underlined word as used in the context of the sentence.
Q. Observing his agitation, we tried to propitiate the speaker , so that work can go on smoothly.
DIRECTIONS for the question: Choose the option which is most Opposite in meaning of the underlined word as used in the context of the sentence.
Q. Muskan's ubiquitous smile, at home, helped to cheer us up in times of misery.
DIRECTIONS for the question: Choose the option which is most Opposite in meaning of the underlined word as used in the context of the sentence.
Q. His turpitude influenced the committee's decision about his promotion and evidence of the same has been found by the committe.
DIRECTIONS for the question: Choose the option which is most Opposite in meaning of the underlined word as used in the context of the sentence.
Q. Efforts at managing differences have, till date, been more episodic than otherwise; therefore both the parties should meet on continuous basis to solve the matter.
DIRECTIONS for the question: Select the meaning of the word in underlline.
Q. “The doctor’s interest in the medical case was mercenary” means that his interest was
DIRECTIONS for the question: Pick the best option which completes the sentence in the most meaningful manner
Q. The _____________ managed to deceive the entire village
DIRECTIONS for the question: Pick the choice which completes the sentence in the most meaningful manner
Q. She ordered the taxi driver, 'Drive faster, _______________?'
DIRECTIONS for the question: Choose the correct alternative to complete the meaning of the given sentence.
Q. Her written statement failed to be consistent ______________ what she had said earlier.
DIRECTIONS for the question: In the following sentence, there are two blank spaces. Below each four pairs of words have been denoted by numbers (A), (B), (C) and (D). Find out which pair of words can be filled up in the blanks in the sentence in the same sequence to make the sentence meaningfully complete.
Q. Although many of the members were ______________ about the impending deal, others were ___________ about the benefits it would bring.
DIRECTIONS for the question: For each of the words below, a contexual usage is provided. Pick the word from the alternatives given that is most appropriate in the given context.
Q. Rather contend for------- with the brave, than for wealth with the rich, or in rapaciousness with the covetous.
DIRECTIONS for the question: Identify the meaning of the given idiom/ phrase.
Q. To make castles in the air
DIRECTIONS for the question: Identify the meaning of the idiom/ phrase as used in the sentence.
Q. To fight tooth and nail
DIRECTIONS for the question: Identify the meaning of the idiom/ phrase as used in the sentence.
Q. He cannot make both ends meet
DIRECTIONS for the question: Identify the meaning of the idiom/ phrase as used in the sentence.
Q. There is no love lost between the two brothers.
DIRECTIONS for the question: Identify the meaning of the given idiom/ phrase.
Q.Kith and Kin
DIRECTIONS for the question: A sentence is divided into four parts. Choose the part that is/are grammatically incorrect.
Q.The principal started his lecture with a pessimistic note.
DIRECTIONS for the question: A sentence is divided into four parts. Choose the part that is/are grammatically incorrect.
Q.We are going to launch this three-crores project within the next few months.
DIRECTIONS for the question: A sentence is divided into four parts. Choose the part that is/are grammatically incorrect.
Q.A great many student have been declared successful.
DIRECTIONS for the question: A sentence is divided into four parts. Choose the part that is/are grammatically incorrect.
Q.He / loved her / beside himself / No error
DIRECTIONS for the question: A sentence is divided into four parts. Choose the part that is/are grammatically incorrect.
Q."The Arabian Nights" / are indeed / an interesting book. / No error
DIRECTIONS for the question: The passage given contains blanks, choose the best choice in each case from the words in the options and mark your answer accordingly.
India’s small scale marketers and service providers __________ at designing their offers for a strange amalgam that India offers. My favorite example of this is a story narrated to me by a young lady who in a beauty parlour. This institution of arranged marriage is still fairly in India. Typically, there is a ‘girl viewing’ ceremony where the boy’s family and friends come to the home of the girl and have to be treated to high tea. The girl, formally dressed and, is made to serve the guests, so that her, posture and physical appearance can all be critically examined. Then she is asked a few questions about herself and her abilities
DIRECTIONS for the question: The passage given contains blanks, choose the best choice in each case from the words in the options and mark your answer accordingly.
India’s small scale marketers and service providersat designing their offers for a strange amalgam that India offers. My favorite example of this is a story narrated to me by a young lady who ___________ in a beauty parlour. This institution of arranged marriage is still fairly in India. Typically, there is a ‘girl viewing’ ceremony where the boy’s family and friends come to the home of the girl and have to be treated to high tea. The girl, formally dressed and, is made to serve the guests, so that her, posture and physical appearance can all be critically examined. Then she is asked a few questions about herself and her abilities.
DIRECTIONS for the question: The passage given contains blanks, choose the best choice in each case from the words in the options and mark your answer accordingly.
India’s small scale marketers and service providers at designing their offers for this strange amalgam. My favorite example of this is a story narrated to me by a young lady who in a beauty parlour. This institution of arranged marriage is still fairly ___________ in India. Typically, there is a ‘girl viewing’ ceremony where the boy’s family and friends come to the home of the girl and have to be treated to high tea. The girl, formally dressed and , is made to serve the guests, so that her, posture and physical appearance can all be critically examined. Then she is asked a few questions about herself and her abilities.
DIRECTIONS for the question: The passage given contains blanks, choose the best choice in each case from the words in the options and mark your answer accordingly.
India’s small scale marketers and service providers at designing their offers for this strange amalgam. My favorite example of this is a story narrated to me by a young lady who in a beauty parlour. This institution of arranged marriage is still fairly in India. Typically, there is a ‘girl viewing’ ceremony where the boy’s family and friends come to the home of the girl and have to be treated to high tea. The girl, formally dressed and _______, is made to serve the guests, so that her posture and physical appearance can all be critically examined. Then she is asked a few questions about herself and her abilities.
DIRECTIONS for the question: The passage given contains blanks, choose the best choice in each case from the words in the options and mark your answer accordingly.
India’s small scale marketers and service providers at designing their offers for this strange amalgam. My favorite example of this is a story narrated to me by a young lady who in a beauty parlour. This institution of arranged marriage is still fairly in India. Typically, there is a ‘girl viewing’ ceremony where the boy’s family and friends come to the home of the girl and have to be treated to high tea. The girl, formally dressed and , is made to serve the guests, so that her_______, posture and physical appearance can all be critically examined. Then she is asked a few questions about herself and her abilities.