Commerce · all questions

Costing
practice.

Practice every MCQ with options. Use Show answers when you want the correct option and solution.

1,309

Questions

54/66

Page

Pick an option on a question to see the right answer and solution.

Q1061

. . . . . . . . costs are partly fixed and partly variable in relation to output.

Select an option to see the answer and solution.

Q1062

Under applied or over applied factory overhead should be:

Select an option to see the answer and solution.

Q1063

The margin of safety may be defined as

Select an option to see the answer and solution.

Q1064

. . . . . . . . is a budget which is updated continuously by adding a further period (a month/quarter) and deducting a corresponding earlier period.

Select an option to see the answer and solution.

Q1065

Which of the following is not an activity listed in the statement of cash flows?

Select an option to see the answer and solution.

Q1066

EOQ is computed by:

Select an option to see the answer and solution.

Q1067

Maintenance charges are in the nature of . . . . . . . . expenses.

Select an option to see the answer and solution.

Q1068

When is the net present value negative,

Select an option to see the answer and solution.

Q1069

The use of LIFO method is suitable when prices are:

Select an option to see the answer and solution.

Q1070

Match the following.

List-I	List-II
a. Marginal cost	1. . . . . . . . . = Contribution ÷ Sales
b. P/V ratio	2. Contribution = Selling price - . . . . . . . .
c. Profit	3. . . . . . . . . = Sales (1 - P/V ratio)
d. Variable costs	4. Margin of safety = . . . . . . . . ÷ P/V ratio

Select an option to see the answer and solution.

Q1071

Assertion (A) Cash flow statement as per the financial statements as well is incapable in revealing the overall financial position of a firm.
Reason (R) Cash is an important constituent of the working capital based on the recorded facts only.

Select an option to see the answer and solution.

Q1072

Elements of cost are

Select an option to see the answer and solution.

Q1073

. . . . . . . . is the maximum possible alternative earning that might have been earned if the productive capacity is put to some alternative use.

Select an option to see the answer and solution.

Q1074

A capital investment is one that

Select an option to see the answer and solution.

Q1075

Which of the following are the benefits of responsibility accounting?
I. It facilitates the centralization of decision-making.
II. It provides a system of closer control.
III. It measures the performance of individuals in an objective manner.
IV. It develops a sense of cost-consciousness among managers and their subordinates.

Select an option to see the answer and solution.

Q1076

In automobile, . . . . . . . . costing is used.

Select an option to see the answer and solution.

Q1077

Match the items in List-I with the items in List-II and indicate the correct answer.

List-I	List-II
a. Debt-equity ratio	1. Net profit before interest and tax/Interest on long-term loans
b. Proprietary ratio	2. Equity share capital + Reserves/Preference share capital + Interest bearing finance
c. Interest coverage ratio	3. Long-term debts/Shareholder's Funds
d. Capital gearing ratio	4. Shareholder's Funds/Total Assets

Select an option to see the answer and solution.

Q1078

Inventory turnover in days = Days during the period ÷ . . . . . . . .

Select an option to see the answer and solution.

Q1079

The statement prepared under process costing is called

Select an option to see the answer and solution.

Q1080

Which aspect of business is affected the most by implementing JIT?

Select an option to see the answer and solution.

Prev 52 53 54 55 56 Next