Management Accounting Online Test Questions Part 5
21. Folio refers to the _____ of the books of original entry or the ledger.
b. Page number
22. Which of the following is true about the nature of Ideal Standards?
i] They are generally practical
ii] They are generally theoretical
iii] They usually show an unfavourable trend
iv] They usually don't show variances
a. i and ii
b. i and iv
c. ii and iii
d. ii and iv
23. What type of a statement is Profit & Loss statement?