Q841
Open questionThe purchase of machinery by issuing long-term notes payable should be reported as a
Select an option to see the answer and solution.
Commerce · all questionsCosting
Costing
practice.
Practice every MCQ with options. Use Show answers when you want the correct option and solution.
1,309
Questions
43/66
Page
Pick an option on a question to see the right answer and solution.
Q842
Open questionCash flow statement is useful for financial planning.
Select an option to see the answer and solution.
Q843
Open questionThe cost accounting method to compute basic cost of a product or service is
Select an option to see the answer and solution.
Q844
Open questionMatch the following.
| List-I (Variances) | List-II (Formulae) |
| a. MCV | 1. SP (RSQ - AQ) |
| b. MPV | 2. SP (SQ - AQ) |
| c. MUV | 3. AQ consumed (SP - AP) |
| d. MMV | 4. SC - AC |
Select an option to see the answer and solution.
Q845
Open questionFixed cost . . . . . . . . in the same proportion in which output changes.
Select an option to see the answer and solution.
Q846
Open questionFixed cost per unit . . . . . . . . with increase in output.
Select an option to see the answer and solution.
Q847
Open questionOn what basis are the selling and distribution overheads absorbed?
Select an option to see the answer and solution.
Q848
Open questionA group items in ABC system of inventory control are
Select an option to see the answer and solution.
Q849
Open questionWorks cost is a total of . . . . . . . .
Select an option to see the answer and solution.
Q850
Open questionFund flow refers to changes in
Select an option to see the answer and solution.
Q851
Open question. . . . . . . . helps in ascertaining costs beforehand.
Select an option to see the answer and solution.
Q852
Open questionAssertion (A): Only the relevant costs should be taken into consideration for decision-making.
Reason (R): All variable costs are relevant costs, and all fixed costs are irrelevant costs.
Reason (R): All variable costs are relevant costs, and all fixed costs are irrelevant costs.
Select an option to see the answer and solution.
Q853
Open questionResponsibility accounting aims to
Select an option to see the answer and solution.
Q854
Open questionIn process costing, the abnormal loss is treated as . . . . . . . . cost and written off to profit & loss account.
Select an option to see the answer and solution.
Q855
Open questionMaterial price variance = Actual usage (. . . . . . . .)
Select an option to see the answer and solution.
Q856
Open questionA company proposes to introduce a new product in the market. The company wants to maintain P/V ratio at 25%. If variable cost of the product is Rs. 300, then what will be the selling price?
Select an option to see the answer and solution.
Q857
Open questionWhat is the amount of fixed cost if the margin of safety is Rs. 80,000 profit is Rs. 20,000, and sales is Rs. 3,00,000?
Select an option to see the answer and solution.
Q858
Open questionCredit and collection cost is an item of:
Select an option to see the answer and solution.
Q859
Open question. . . . . . . . forms part of cost of production.
Select an option to see the answer and solution.
Q860
Open questionAverage cost method of valuing material issues is suitable when . . . . . . . .
Select an option to see the answer and solution.