Police Recruitment Exams - Sub-Inspector & Constable (State Police & Delhi Police)

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Q1.

[General Accounting Principles - Recruitment Question #1] Which fundamental accounting concept stipulates that revenue must be recognized in the accounting period in which it is earned, regardless of when cash is received?

(A)

Conservatism / Prudence Concept

(B)

Cost Historical Concept

(C)

Cash Basis Concept

(D)

Accrual Concept / Revenue Realization Principle

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Q2.

[EPFO & Industrial Relations - Recruitment Question #3] Under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, what is the standard statutory contribution rate payable by both employer and employee for eligible establishments?

(A)

12% of basic wages, dearness allowance and retaining allowance

(B)

8.33% of total cost to company (CTC)

(C)

10% of gross total salary

(D)

15% of basic salary strictly

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