Business Abbreviations MCQ questions and answers | GK Abbreviations

First In, First Out, commonly known as FIFO, is an asset-management and valuation method in which assets produced or acquired first are sold, used, or disposed of first.
For tax purposes, FIFO assumes that assets with the oldest costs are included in the income statement's cost of goods sold (COGS). The remaining inventory assets are matched to the assets that are most recently purchased or produced.

Exports are goods and services that are produced in one country and sold to buyers in another. Exports are incredibly important to modern economies because they offer people and firms many more markets for their goods. One of the core functions of diplomacy and foreign policy between governments is to foster economic trade, encouraging exports and imports for the benefit of all trading parties.

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization and is a metric used to evaluate a company’s operating performance. It can be seen as a proxy for cash flow from the entire company’s operations.

Earnings per share (EPS) is calculated as a company's profit divided by the outstanding shares of its common stock. The resulting number serves as an indicator of a company's profitability. It is common for a company to report EPS that is adjusted for extraordinary items and potential share dilution.

Direct Tax Code is set of rules that is going to replace the existing Income Tax Act (IT Act). It covers all taxes that is under the present IT Act including corporate income tax and personal income tax. Effort to create a DTC started from 2009 onwards.

CRISIL (formerly Credit Rating Information Services of India Limited) is an Indian analytical company providing ratings, research, and risk and policy advisory services and is a subsidiary of American company S&P Global.
CRISIL, was the first credit rating agency in India, introduced in 1988 by the ICICI and UTI jointly with share capital coming from SBI, LIC and United India Insurance Company. In April 2005, US based credit rating agency S&P acquired the majority shares of company.

Compound annual growth rate (CAGR) is the rate of return that would be required for an investment to grow from its beginning balance to its ending balance, assuming the profits were reinvested at the end of each year of the investment’s life span.

Business process re-engineering (BPR) is a business management strategy, originally pioneered in the early 1990s, focusing on the analysis and design of workflows and business processes within an organization. BPR aimed to help organizations fundamentally rethink how they do their work in order to improve customer service, cut operational costs, and become world-class competitors.

Business process outsourcing (BPO) is a business practice in which an organization contracts with an external service provider to perform an essential business task.

BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange located on Dalal Street in Mumbai (Bombay). Established in 1875, it is the oldest stock exchange in South Asia, and also the tenth oldest in the world. The BSE is the 9th largest stock exchange with an overall market capitalization of more than 2,18,730 billion on as of May 2021.