Costing

22. Process of assigning indirect costs to any specific cost object is known as

economic cost
cost tracing
cost allocation
non-economic costs

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href="https://exam.pscnotes.com/mcq/process-of-assigning-indirect-costs-to-any-specific-cost-object-is-known-as/#more-48437">Detailed SolutionProcess of assigning indirect costs to any specific cost object is known as

23. Mathematical relationships exist between operating and financing activities that affect master budget are called

math plan model
financial planning models
operating plan models
master plan models

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button" href="https://exam.pscnotes.com/mcq/mathematical-relationships-exist-between-operating-and-financing-activities-that-affect-master-budget-are-called/#more-48426">Detailed SolutionMathematical relationships exist between operating and financing activities that affect master budget are called

24. Where actual loss in a process is less than the anticipated loss, the difference between the two is considered to be . . . . . . . .

abnormal loss
normal loss
abnormal gain
normal gain

Detailed SolutionWhere actual loss in a process

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is less than the anticipated loss, the difference between the two is considered to be . . . . . . . .

25. Such expenses which are included (even though they are not incurred) for taking managerial decisions are called . . . . . . . .

notional expenses
actual expenses
imputed
None of these

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. ." class="read-more button" href="https://exam.pscnotes.com/mcq/such-expenses-which-are-included-even-though-they-are-not-incurred-for-taking-managerial-decisions-are-called/#more-48388">Detailed SolutionSuch expenses which are included (even though they are
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not incurred) for taking managerial decisions are called . . . . . . . .

26. Which of the following activities should be shown separately in the cash flow statement prepared as per accounting standard-3? I. Cash flow from borrowing activities. II. Cash flow from operating activities. III. Cash flow from financing activities. IV. Cash flow from investing activities. V. Cash flow from miscellaneous activities.

I, II and III
I, III and V
II, III and IV
I, IV and V

Detailed SolutionWhich of the following activities should be shown separately in the cash flow statement prepared as per accounting standard-3? I. Cash flow from borrowing activities. II. Cash flow from operating

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activities. III. Cash flow from financing activities. IV. Cash flow from investing activities. V. Cash flow from miscellaneous activities.

27. When the debt turnover ratio is 4, what is the average collection period?

5 months
4 months
3 months
2 months

Detailed SolutionWhen the

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debt turnover ratio is 4, what is the average collection period?

28. Gross margin is subtracted from sales value of all production to yield

labour cost incurred on product
production cost incurred on product
marketing cost incurred on product
all of above

Detailed

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SolutionGross margin is subtracted from sales value of all production to yield

29. Assertion (A): Cash flow statement, as per the financial statements as well, is incapable of revealing the overall financial position of a firm. Reason (R): Cash is an important constituent of the working capital based on recorded facts only.

Both (A) and (R) are correct, and (R) is the correct explanation of (A)
(A) is correct, but (R) is incorrect
(A) is incorrect, but (R) is correct
Both (A) and (R) are incorrect

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on recorded facts only." class="read-more button" href="https://exam.pscnotes.com/mcq/assertion-a-cash-flow-statement-as-per-the-financial-statements-as-well-is-incapable-of-revealing-the-overall-financial-position-of-a-firm-reason-r-cash-is-an-important-constituent-of-the-wor/#more-48319">Detailed SolutionAssertion (A): Cash flow statement, as per the financial statements as well, is incapable of revealing the overall financial position of a firm. Reason (R): Cash is an important constituent of the working capital based on recorded facts only.

30. Most appropriate basis for the apportionment of power is ________.

no of labour
no of output
no of machines
horse power of machines

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d="M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 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 href="https://exam.pscnotes.com/mcq/most-appropriate-basis-for-the-apportionment-of-power-is-________/#more-48314">Detailed SolutionMost appropriate basis for the apportionment of power is ________.
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