Costing

1. Which budget is prepared first of all?

Cash budget
Master budget
Budget for the key factor
Flexible budget

Join Our Telegram Channel
Subscribe on YouTube
all?" class="read-more button" href="https://exam.pscnotes.com/mcq/which-budget-is-prepared-first-of-all/#more-53505">Detailed SolutionWhich budget is prepared first of all?

2. Labour turnover means:

Turnover generated by labour
Rate of change in composition of labour force during a specified period
Either of the above

Detailed SolutionLabour turnover means:

3. Contract costing is most appropriate method of costing for ________.

construction industry
banking industry
textile mills
cement industry

Join Our Telegram Channel

42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube
________." class="read-more button" href="https://exam.pscnotes.com/mcq/contract-costing-is-most-appropriate-method-of-costing-for-________/#more-53471">Detailed SolutionContract costing is most appropriate method of costing for ________.

4. Economic Batch Quantity is an important point to be determined in industries where . . . . . . . . costing is employed.

job
batch
operation
output

Detailed SolutionEconomic Batch Quantity is an important point to be

Join Our Telegram Channel
Subscribe on YouTube
determined in industries where . . . . . . . . costing is employed.

5. An average inventory in units is multiplied with annual relevant carrying cost of each unit to calculate

annual irrelevant ordering costs
annual relevant carrying costs
annual relevant ordering costs
annual irrelevant carrying costs

Detailed SolutionAn average inventory in units is

Join Our Telegram Channel
Subscribe on YouTube
multiplied with annual relevant carrying cost of each unit to calculate

6. In income statement of merchandising costs, period cost includes all costs which are not related to

cost of resale goods
cost of manufacturing goods
timed resale of goods
cost of purchased goods

Join Our Telegram Channel
Subscribe on YouTube
button" href="https://exam.pscnotes.com/mcq/in-income-statement-of-merchandising-costs-period-cost-includes-all-costs-which-are-not-related-to/#more-53427">Detailed SolutionIn income statement of merchandising costs, period cost includes all costs which are not related to

7. A manager who is responsible for only cost of company belongs to

cost center
revenue center
profit center
investment center

Detailed

Join Our Telegram Channel
213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube
SolutionA manager who is responsible for only cost of company belongs to

8. The process of grouping of costs according to some common characteristics ________.

absorption
primary distribution
secondary distribution
classification

Detailed SolutionThe

Join Our Telegram Channel
24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube
process of grouping of costs according to some common characteristics ________.

9. . . . . . . . . is the oldest branch of accounting.

Financial accounting
Cost accounting
Management accounting
None of these

Join Our Telegram Channel
Subscribe on YouTube
href="https://exam.pscnotes.com/mcq/is-the-oldest-branch-of-accounting/#more-53371">Detailed Solution. . . . . . . . is the oldest branch of accounting.

10. Material abstract is also known as . . . . . . . .

material issue analysis sheet
bill of materials
stores ledger
None of the above

Detailed SolutionMaterial

Join Our Telegram Channel
Subscribe on YouTube
abstract is also known as . . . . . . . .

Page 1Page 2Page 3Page 4Page 5
Test 1Test 2Test 3Test 4Test 5Test 6Test 7Test 8Test 9Test 10Test 11Test 12Test 13Test 14Test 15Test 16Test 17Test 18Test 19Test 20Test 21Test 22Test 23Test 24