Detailed SolutionSlope coefficient of cost function is zero because it intersects the
Costing
x-axis at one
y-axis at constant
x-axis at constant
y-axis at one
Answer is Right!
Answer is Wrong!
22. Number of observations in regression analysis is considered as
degree of possibility
degree of average
degree of variance
degree of freedom
Answer is Right!
Answer is Wrong!
Detailed SolutionNumber of observations in regression analysis is considered as
23. The Learner index measures
Market power
Price
Price-marginal cost
None of the above
Answer is Right!
Answer is Wrong!
24. Discarded material substances having some value is ________.
waste
scrap
defective
spoilage
Answer is Right!
Answer is Wrong!
Detailed SolutionDiscarded material substances having some value is ________.
25. Standard costing is more widely applied in . . . . . . . . industries.
process and engineering
jobbing industries
construction industry
All of these
Answer is Right!
Answer is Wrong!
Detailed SolutionStandard costing is more widely applied in . . . . . . . . industries.
26. Process of assigning direct or indirect cost to any cost object is known as
cost assignment
cost expectation
event assignment
probability assignment
Answer is Right!
Answer is Wrong!
Detailed SolutionProcess of assigning direct or indirect cost to any cost object is known as
27. Defectives ________.
cannot be rectified and made into good units
can be rectified and mad made into good units
can be a part of finished product
can be termed as spoilage
Answer is Right!
Answer is Wrong!
28. If the beginning balance in the raw materials inventory account for the month was Rs. 25,000, the ending balance was Rs. 22,000 and material used during the month was Rs. 1,30,000. What is the amount of materials purchased during the month?
Rs. 1,77,000
Rs. 1,30,000
Rs. 1,27,000
Rs. 1,33,000
Answer is Right!
Answer is Wrong!
29. Method of estimation of cost function, by making opinions and analysis about cost and cost drivers is classified as
conference method
inference method
pricing method
manufacturing method
Answer is Right!
Answer is Wrong!
30. Which of the following is not a feature of budgetary control?
A tool for management control
An instrument of delegation and authority
An instrument for evaluating the overall performance
A statement of budget and forecasts
Answer is Right!
Answer is Wrong!
Detailed SolutionWhich of the following is not a feature of budgetary control?