[amp_mcq option1=”stock-out costs” option2=”ordering costs” option3=”carrying costs” option4=”purchasing costs” correct=”option4″]
Detailed SolutionCosts of goods acquired from suppliers is classified as
Costing
122. Worker’s participation implies their right to take part in:
[amp_mcq option1=”Annual general meeting” option2=”Decision making” option3=”Share holding” option4=”Profit sharing” correct=”option2″]
Detailed SolutionWorker’s participation implies their right to take part in:
123. . . . . . . . . Accounting is not only a positive science but also a normative science because it includes techniques of budgetary control and standard costing.
[amp_mcq option1=”Financial” option2=”Cost” option3=”Both A and B” option4=”None of these” correct=”option2″]
124. The P/v ratio of a company is 50% and margin of safety is 40%. If present sales is Rs 30,00,000 then Break Even Point in Rs will be
[amp_mcq option1=”Rs 9,00,000″ option2=”Rs 18,00,000″ option3=”Rs 5,00,000″ option4=”None of the above” correct=”option2″]
125. . . . . . . . . are costs which have been applied against revenue of particular accounting period.
[amp_mcq option1=”Expenses” option2=”Income” option3=”Loss” option4=”None of these” correct=”option1″]
126. In marginal costing, contribution is equal to
[amp_mcq option1=”Sales – Fixed cost” option2=”Sales – Variable cost” option3=”Sales – Profit” option4=”Sales – Variable Cost + Fixed cost” correct=”option1″]
Detailed SolutionIn marginal costing, contribution is equal to
127. Third step in constant gross margin percentage NRV Method to allocate joint cost is to compute
[amp_mcq option1=”Gross margin percentage” option2=”total production cost of each product” option3=”allocated joint costs” option4=”cost of split off point” correct=”option1″]
128. Depreciation is . . . . . . . . expenditure.
[amp_mcq option1=”fixed” option2=”variable” option3=”adjustable” option4=”semi-variable” correct=”option1″]
Detailed SolutionDepreciation is . . . . . . . . expenditure.
129. A job is budgeted to require 3,300 productive hours after incurring 25% idle time. If the total labour cost budgeted for the job is Rs 36,300. What is the labour cost per hour( to the nearest cent)?
[amp_mcq option1=”Rs 8.25″ option2=”Rs 8.80″ option3=”Rs 11.00″ option4=”Rs 14.67″ correct=”option1″]
130. Labour turnover is ______.
[amp_mcq option1=”productivity of labour” option2=”efficiency of the labour” option3=”change in labour force” option4=”total cost of the labour” correct=”option3″]