Which Statement About the Congress Party Is INCORRECT

question 4

Multiple Choice

Which statement about the Congress Party is INCORRECT?

• A) It was the dominant party until the late 1960s in large part because it grew out of the independence movement.
• B) Its ideological stance has varied over the years, but it is generally known today as a centrist secular party.
• C) It has been fairly centralized since the term of Indira Gandhi.
• D) It has been the dominant party in every coalition government.
• E) It is associated with the Nehru - Gandhi dynasty.

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Definitions:

Accounts Receivable-Year 2

The amount of money owed to a company by its customers for goods or services delivered or used but not yet paid for in the second fiscal year.

Realized Gross Profit

The total profit a company makes from its sales after deducting the cost of goods sold, but only on transactions completed within the reporting period.

Deferred Gross Profit-Year 2

The portion of profit from installment sales recognized in the second year, not immediately at the time of sale, due to revenue recognition principles.

Cost Of Installment Goods Sold

The cost assigned to goods that have been sold on installment, including both the cost of manufacturing and a portion of interest on the installment sales.