identify product
identify problem
identify quartiles
identify percentiles
Answer is Right!
Answer is Wrong!
Detailed SolutionFirst step in developing an operating budget is to
Costing
32. If the amount of work certified is less than . . . . . . . . of the contract price, then no profit should be taken to Profit & Loss Account.
20%
25%
$$33 rac{1}{3}% $$
40%
Answer is Right!
Answer is Wrong!
33. Type of relationship stating “how changes in cost driver drives cause changes in cost” will be termed as
marginal plausibility
economic plausibility
financial plausibility
market plausibility
Answer is Right!
Answer is Wrong!
34. The control ratios used by the management to know whether the deviations of the actual performance from the budgeted performance are favourable or unfavourable are . . . . . . . .
Capacity ratio, activity ratio
Efficiency ratio, calendar ratio
Both A and B
None of the above
Answer is Right!
Answer is Wrong!
35. Significant feature of Kaizen Budgeting is
employee suggestion
customer suggestion
cost suggestion
price suggestion
Answer is Right!
Answer is Wrong!
36. Under Merrick’s multiple piece rate system, 110% of the ordinary piece rate is given to workers whose level of performance is between . . . . . . . . of the standard output.
83% and 100%
100% and 120%
0% and 83%
None of these
Answer is Right!
Answer is Wrong!
37. In transportation costing a composite unit such as . . . . . . . . is used.
passenger mile/km or Ten kilometer
per km
per passenger
per stop
Answer is Right!
Answer is Wrong!
Detailed SolutionIn transportation costing a composite unit such as . . . . . . . . is used.
38. Goodness of fit predicted values is also known as
coefficient of determination
coefficient of index
coefficient of residual
coefficient of prediction
Answer is Right!
Answer is Wrong!
Detailed SolutionGoodness of fit predicted values is also known as
39. Which of the following is not a method of cost absorption?
Percentage of direct material cost
Machine hour rate
Labour hour rate
Repeated distribution method
Answer is Right!
Answer is Wrong!
Detailed SolutionWhich of the following is not a method of cost absorption?
40. Indicate the correct option as regards the sources of funds for a funds flow statement from the following 1. Increase in working capital. 2. Decrease in working capital. 3. Writing-off the intangible/fictitious assets. 4. Issuing equity shares for acquisition of a building for office. 5. Charging depreciation on fixed assets. Select the correct answer
1, 3 and 4
2, 3 and 5
1, 4 and 5
2, 3 and 4
Answer is Right!
Answer is Wrong!