Commerce · all questions

Costing
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Q1161

During a period of rising prices, which of the following inventory pricing methods tends to produce higher cost of goods sold?

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Q1162

Target price is subtracted from per unit target operating income to calculate

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Q1163

Standard costing is more widely applied in . . . . . . . . industries.

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Q1164

A technique, which accumulates and tracks costs of business function in value chain attributed to each market, offering from R and D to final customer support, is called

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Q1165

When actual loss is . . . . . . . . than the estimated loss, the difference between the two is considered to be abnormal gain.

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Q1166

What is the basic difference between a static budget and a flexible budget?

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Q1167

Return on Investment (RoI) is computed as

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Q1168

Which of the following methods of stock valuation results in lower valuation of inventory and lower income when prices are rising:

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Q1169

Under Merrick's multiple piece rate system, 120% of the ordinary piece rate is given to workers whose level of performance is between . . . . . . . . of the standard output.

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Q1170

Under Merrick's multiple piece rate system, 110% of the ordinary piece rate is given to workers whose level of performance is between . . . . . . . . of the standard output.

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Q1171

Break-even point is also known as . . . . . . . . point.

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Q1172

Tender price expresses-

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Q1173

An automobile service unit uses . . . . . . . . costing.

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Q1174

. . . . . . . . is the excess of overheads absorbed over the actual amount of overheads incurred.

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Q1175

Economic capacity of a plant represents its:

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Q1176

Unsuccessful research expenditure should be . . . . . . . . cost accounts.

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Q1177

'EOQ' is used in:

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Q1178

Match the following.

List-I	List-II
a. Debtor's turnover ratio	1. Solvency ratio
b. Proprietary ratio	2. Liquidity ratio
c. Operating ratio	3. Activity ratio
d. Acid test ratio	4. Profitability ratio

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Q1179

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

List-I	List-II
a. Absolute cost advantage theory	1. The empirical evidence based on US export of labour-intensive goods challenging the factor endowment theory.
b. Comparative cost advantage theory	2. A country with a direct cost advantage in the production of a product on account of greater efficiency.
c. Factor endowment theory	3. A country should produce and export a commodity that primarily involves a factor of production in abundance within the country.
d. Leontief paradox	4. A country should specialize in the production and export of a commodity in which it possesses the greatest relative advantage.

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Q1180

The principle types of inventories are raw materials and, . . . . . . . . and finished goods.

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