Costing

41. Which of these is not an objective of Cost Accounting?

Ascertainment of Cost
Determination of Selling Price
Cost Control and Cost reduction
Assisting Shareholders in decision making

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href="https://exam.pscnotes.com/mcq/which-of-these-is-not-an-objective-of-cost-accounting/#more-59344">Detailed SolutionWhich of these is not an objective of Cost Accounting?

42. Match the items of the following two lists: List-I List-II a. Statement of changes in working capital 1. Cash flow statement b. Deferred tax 2. Fixed assets c. Three activities 3. Funds flow statement d. Impairment loss 4. Balance sheet

a-1, b-2, c-3, d-4
a-3, b-4, c-2, d-1
a-3, b-4, c-1, d-2
a-4, b-3, c-1, d-2

Detailed SolutionMatch the items of the following two lists: List-I List-II a. Statement of changes in working capital 1.

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Cash flow statement b. Deferred tax 2. Fixed assets c. Three activities 3. Funds flow statement d. Impairment loss 4. Balance sheet

43. Warehousing cost is an item of:

office overhead
distribution overhead
material cost
works overhead

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button" href="https://exam.pscnotes.com/mcq/warehousing-cost-is-an-item-of/#more-59330">Detailed SolutionWarehousing cost is an item of:

44. Match the following. List-I List-II a. Earning ability of firm 1. Basis of accounting b. Conservatism 2. P/V ratio c. Cash profit 3. Cash flow statement d. Cash and accrual 4. Prudence

a-2, b-4, c-3, d-1
a-2, b-1, c-4, d-3
a-3, b-4, c-1, d-2
a-3, b-4, c-2, d-1

Detailed SolutionMatch the following. List-I List-II a. Earning ability of firm 1.

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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
Basis of accounting b. Conservatism 2. P/V ratio c. Cash profit 3. Cash flow statement d. Cash and accrual 4. Prudence

45. A flexible budget requires careful study and classification of expenses into

Product expenses and period expenses
Past and current expenses
Administrative, selling, and factory expenses
Fixed, semi-variable, and variable expenses

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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 of expenses into" class="read-more button" href="https://exam.pscnotes.com/mcq/a-flexible-budget-requires-careful-study-and-classification-of-expenses-into/#more-59302">Detailed SolutionA flexible budget requires careful study and classification of expenses into

46. Material usage variance = standard price (. . . . . . . .)

Standard usage - actual usage
Standard unit price - actual unit price
Standard quantity
Actual quantity

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variance = standard price (. . . . . . . .)" class="read-more button" href="https://exam.pscnotes.com/mcq/material-usage-variance-standard-price/#more-59297">Detailed SolutionMaterial usage variance = standard price (. . . . . . . .)

47. If net realizable value is $20000 and separable costs are $18000, then final sales will be

$20,000
$18,000
$2,000
$38,000

Detailed

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SolutionIf net realizable value is $20000 and separable costs are $18000, then final sales will be

48. Relationship between cost and cost drivers is

stationary
not stationary
intrinsic
extrinsic

Detailed

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SolutionRelationship between cost and cost drivers is

49. Stock Adjustment Account is debited with . . . . . . . . and credited with . . . . . . . .

surplus, shortage of stock
shortage of stock, surplus
excess, loss
None of these

Detailed SolutionStock Adjustment Account is debited with . . . .

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. . . . and credited with . . . . . . . .

50. Actual loss is less than the predetermined normal loss, it is ________.

normal loss
abnormal loss
seasonal loss
abnormal gain

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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 class="read-more button" href="https://exam.pscnotes.com/mcq/actual-loss-is-less-than-the-predetermined-normal-loss-it-is-________/#more-59268">Detailed SolutionActual loss is less than the predetermined normal loss, it is ________.

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