Correct Answer:
B. Excluding interest payments
A primary surplus means non-interest revenue exceeds non-interest expenditure.
November 13, 2026 · Accounting and Finance MCQs, Public Finance & Budgeting MCQs
Primary balance is the fiscal balance:
Related MCQs
EBIT is Rs. 200,000 and interest is Rs. 50,000. The degree of financial leverage is approximately:
A.
4.0
B.
0.75
C.
1.33
D.
1.25
Correct answer is:
C. 1.33
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The Departmental Accounts Committee (DAC) meeting is held to:
A.
Prepare the national budget
B.
Discuss and settle audit paras between audit and the department's Principal Accounting Officer
C.
Select new auditors
D.
Approve foreign loans
Correct answer is:
B. Discuss and settle audit paras between audit and the department's Principal Accounting Officer
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Drawings made by the owner of a sole proprietorship:
A.
Reduce the owner's equity (capital)
B.
Increase the owner's equity
C.
Are recorded as business expenses
D.
Are recorded as revenue
Correct answer is:
A. Reduce the owner's equity (capital)
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Contribution margin is Rs. 120,000 and operating income is Rs. 30,000. The degree of operating leverage is:
A.
0.25
B.
3
C.
90,000
D.
4
Correct answer is:
D. 4
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A just-in-time (JIT) system aims to:
A.
Keep large safety stocks
B.
Reduce inventory by producing or buying only when needed
C.
Produce in large batches for future demand
D.
Increase the number of suppliers
Correct answer is:
B. Reduce inventory by producing or buying only when needed
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Under IFRS 15, revenue is recognized when:
A.
A performance obligation is satisfied by transferring control of goods or services to the customer
B.
A contract is signed
C.
Cash is received in all cases
D.
The invoice is printed
Correct answer is:
A. A performance obligation is satisfied by transferring control of goods or services to the customer
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