Costing
Short-term creditors
Long-term creditors
Shareholders
Both A and B
Answer is Right!
Answer is Wrong!
22. The cost accounting method to compute basic cost of a product or service is
Process costing
Contract costing
Uniform costing
Unit costing
Answer is Right!
Answer is Wrong!
Detailed SolutionThe cost accounting method to compute basic cost of a product or service is
23. If the total cost is Rs. 260 and the total variable cost is Rs. 60, what will be total fixed cost if output is (i) 100 units and (ii) 200 units?
Rs. 200 and Rs. 200
Rs. 100 and Rs. 200
Rs. 260 and Rs. 100
Rs. 160 and Rs. 100
Answer is Right!
Answer is Wrong!
24. Loss on incomplete contract is transferred to-
Profit and loss account
Execution work
Partly to both of them
Certified work
Answer is Right!
Answer is Wrong!
Detailed SolutionLoss on incomplete contract is transferred to-
25. In adjustment issues of costing, database must contain reliable measure of
fixed cost driver
cost driver and cost
cost driver and object
mixed cost driver
Answer is Right!
Answer is Wrong!
Detailed SolutionIn adjustment issues of costing, database must contain reliable measure of
26. Profits can be increased by 1. decreasing the selling price per unit. 2. increasing the selling price per unit. 3. decreasing the volume of sales. 4. increasing the volume of sales. 5. decreasing the fixed or variable expenses. 6. increasing the fixed or variable expenses. 7. giving more weightage for products having higher P/V ratio. 8. giving less weightage for products having higher P/V ratio. Select the correct answer
1, 3, 5 and 7
2, 4, 6 and 8
2, 4, 5 and 7
1, 3, 6 and 8
Answer is Right!
Answer is Wrong!
27. Match the following. List-I List-II a. Short-term 1. . . . . . . . . is a financing activity. b. Current liabilities 2. Cash flow statement is useful for . . . . . . . . financial planning. c. Amount of creditors 3. Increase in . . . . . . . . is a source of cash. d. Payment of dividends 4. Increase in the . . . . . . . . results in increase in cash.
a-4, b-3, c-2, d-1
a-2, b-3, c-4, d-1
a-3, b-2, c-4, d-1
a-3, b-4, c-1, d-2
Answer is Right!
Answer is Wrong!
28. Expenses incurred during production other than direct materials and direct labour are called . . . . . . . . factory expenses; those charged to production on estimated basis are called . . . . . . . .
actual, applied
applied, actual
indirect, direct
None of these
Answer is Right!
Answer is Wrong!
29. A group of individual indirect cost item is defined as
direct pool
cost pool
indirect pool
item pool
Answer is Right!
Answer is Wrong!
Detailed SolutionA group of individual indirect cost item is defined as
30. Which of the following is an investing activity?
Cash inflow from interest income
Cash inflow from dividend income
Cash outflow to acquire fixed assets
All of the above
Answer is Right!
Answer is Wrong!
Detailed SolutionWhich of the following is an investing activity?