Costing

1. Which budget is prepared first of all?

Cash budget
Master budget
Budget for the key factor
Flexible budget

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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?

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

construction industry
banking industry
textile mills
cement industry

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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

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to be 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

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button" href="https://exam.pscnotes.com/mcq/an-average-inventory-in-units-is-multiplied-with-annual-relevant-carrying-cost-of-each-unit-to-calculate/#more-53443">Detailed SolutionAn average inventory in units is 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

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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

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to" class="read-more button" href="https://exam.pscnotes.com/mcq/a-manager-who-is-responsible-for-only-cost-of-company-belongs-to/#more-53409">Detailed 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

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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 button" href="https://exam.pscnotes.com/mcq/the-process-of-grouping-of-costs-according-to-some-common-characteristics-________/#more-53386">Detailed SolutionThe 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

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branch of accounting." class="read-more button" 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

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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/material-abstract-is-also-known-as/#more-53363">Detailed SolutionMaterial abstract is also known as . . . . . . . .
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