[amp_mcq option1=”sold” option2=”rectified” option3=”purchased” option4=”None of these” correct=”option2″]
Costing
12. . . . . . . . . is a technique of stock control which leads to saving of time of the management because attention is required to be paid only to some of the items rather than on all the items.
[amp_mcq option1=”ABC Analysis” option2=”JIT Inventory System” option3=”VED Analysis” option4=”Perpetual Inventory System” correct=”option1″]
13. Relationship between change in activity and change in total costs is considered as
[amp_mcq option1=”fixed relationship” option2=”cause and effect relationship” option3=”ineffective relationship” option4=”variable relationship” correct=”option4″]
Detailed SolutionRelationship between change in activity and change in total costs is considered as
14. Costs associated with the labour turnover can be categorised into:
[amp_mcq option1=”Preventive Costs only” option2=”Replacement costs only” option3=”Both of the above” option4=”Machine costs” correct=”option3″]
Detailed SolutionCosts associated with the labour turnover can be categorised into:
15. Liquidity ratios are expressed in
[amp_mcq option1=”Pure ratio form” option2=”Percentage” option3=”Rate or time” option4=”None of the above” correct=”option1″]
16. First step in process costing system is to
[amp_mcq option1=”summarize flow of output” option2=”compute output in units” option3=”summarize total costs” option4=”compute cost for each equivalent unit” correct=”option1″]
17. Aspects of accounting for scrap includes
[amp_mcq option1=”physical tracking” option2=”non-inventoriable costing” option3=”inventory costing” option4=”both a and c” correct=”option4″]
18. Material control involves ________.
[amp_mcq option1=”consumption of material” option2=”issue of material” option3=”purchase of material” option4=”purchase, storage and issue of material” correct=”option4″]
19. GRN number refers to________.
[amp_mcq option1=”goods received note number” option2=”goods returned note number” option3=”goods shortage note number” option4=”goods requisition note number” correct=”option1″]
20. Variance, if used to alert managers before time of problem is called
[amp_mcq option1=”varied warning” option2=”times warning” option3=”managers warning” option4=”early warning” correct=”option4″]
Detailed SolutionVariance, if used to alert managers before time of problem is called