CAT Questions

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The Debit balance recovery is usually made by raising a credit memo for the regular vendors. However if there are no future transactions from the supplier, we ask the vendor to send the check / make an EFT for the amount due from him. When payment is made to the wrong vendor or payment made in excess, in that case overpayment has gone to the vendor, so for us it is vendor debit balance. For debit balance recovery, we can either follow- up with the vendor to send us the excess amount / refund back, or we can adjust that extra amount in future invoices submitted by that vendor. In case no future transactions, we have to follow-up with the vendor, failing which we have to write off this amount. 

Direct Materials doesn't come under Fixed Cost because it vary with changes in the activity level of a business.

Fixed Cost :

A fixed cost is a cost that does not change over the short-term, even if a business experiences changes in its sales volume or other activity levels.

It is of some importance to understand the extent and nature of the fixed costs in a business, since a high fixed-cost level requires a business to maintain a high revenue level in order to avoid generating losses.

Examples of Fixed Cost are:

Insurance, Salaries, Rent, Property Taxes,...

National Advisory Council is NOT a constitutional body.

The National Advisory Council (NAC) of India was an advisory body set up by the first United Progressive Alliance (UPA) government to advise the Prime Minister of India.

The Opening in a wall to let in air or light is nothing but a Window.

Let p be the principle amount

And R% be the rate of interest

Then, required ratio =P×4×R100P×6×R100 

⇒4PR6PR= 2:3

All shoes have a sole of some sort.Not all shoes are made of leather (choice b); nor do they all have laces (choice c).Walking (choice d) is not essential to a shoe.

India was re-elected as member of executive board of United Nations Educational, Scientific and Cultural Organization (UNESCO). Executive board is UNESCO's top decision-making body. The election was held at 39th session of General Conference of UNESCO in Paris, France. 

UNESCO is UN association that helps safeguard historical and cultural sites around the world. It is special multi-nation organization, framed in 1945 and situated in France. It promotes literacy and sex education as well as improving gender equality in countries around world. The General Conference determines policies and main lines of work of organisation. Its duty is to set programmes and budget of UNESCO. It also elects members of executive board and appoints, every four years, director-general.