Cost, which is related to specific cost object and economically traceable, will be classified as
A. direct cost
B. indirect cost
C. line cost
D. staff cost
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Material or anything for which cost is to be measured is known as
A. measurement object
B. cost object
C. accounting object
D. budget object
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Cost which is changed in proportion to level total volume is
A. fixed cost
B. variable cost
C. total cost
D. infeasible cost
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Costs are classified as fixed or variable on basis of
A. specific activity
B. given time period
C. common activity
D. both a and b
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Process of tracing direct costs and allocation of indirect costs is known as
A. cost assignment
B. direct assignment
C. indirect assignment
D. economic assignment
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Cost which remains unchanged, in proportion to level total volume of production is classified as
A. total cost
B. infeasible cost
C. fixed cost
D. variable cost
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In accounting, cost which is predicted to be incurred or future cost is known as
A. past cost
B. incurred cost
C. actual cost
D. budgeted cost
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Cost which is related to specific cost object and cannot be economically traceable is classified as
A. line cost
B. staff cost
C. direct cost
D. indirect cost
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Process of assigning indirect costs to any specific cost object is known as
A. economic cost
B. cost tracing
C. cost allocation
D. non-economic costs
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In accounting, resources sacrifice for achieving or fulfil specific objective is known as
A. source cost
B. sacrifice cost
C. treated cost
D. cost
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In production, variables such as level of activity or volume of company activity are known as
A. cost drivers
B. timed drivers
C. variable drivers
D. fixed drivers
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Relationship between change in activity and change in total costs is considered as
A. fixed relationship
B. cause and effect relationship
C. ineffective relationship
D. variable relationship
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Direct cost assignment for specific cost object is classified as
A. cost object line cost
B. cost tracing
C. cost object indirect cost
D. cost object staff cost
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In accounting, cost incurred in past or in historical financial statements is classified as
A. actual cost
B. budgeted cost
C. past cost
D. incurred cost
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Collection of cost data, according to accounting system in an organized way is classified as
A. system accumulation
B. accumulated data
C. cost accumulation
D. organized accumulation
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Which of following is an example of purchasing costs?
A. incoming freight
B. storage costs
C. insurance
D. spoilage
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If an average inventory is 2000 units, annual relevant carrying cost of each unit is $5, then annual relevant carrying cost will be
A. $5,000
B. $4,500
C. $5,500
D. $6,000
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If demand of one year is 25000 units, relevant ordering cost for each purchase order is 210 , c a r r y in g cos t o f o n e u ni t o f s t oc k i s 25 then economic order quantity will be
A. 678 packages
B. 648 packages
C. 658 packages
D. 668 packages
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Cost of product failure, error prevention and appraisals can be classified under
A. stocking costs
B. stock-out costs
C. costs of quality
D. shrinkage costs
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Activities related to coordinating, controlling and planning flow of inventory are classified as
A. decisional management
B. throughput management
C. inventory management
D. manufacturing management
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