[amp_mcq option1=”49,000″ option2=”70,000″ option3=”21,000″ option4=”91,000″ correct=”option3″]
Costing
42. In process costing, if an abnormal loss arises, the process account is generally.
[amp_mcq option1=”Debited with the scrap value of the abnormal loss units” option2=”Debited with the full production cost of the abnormal loss units” option3=”Credited with the scrap value of the abnormal loss units” option4=”Credited with the full production cost of the abnormal loss units” correct=”option1″]
Detailed SolutionIn process costing, if an abnormal loss arises, the process account is generally.
43. The primary emphasis of . . . . . . . . cost is on the planning function of management.
[amp_mcq option1=”budgeted” option2=”standard” option3=”period” option4=”None of these” correct=”option1″]
44. Cash receipts is added in to beginning cash balance to calculate
[amp_mcq option1=”total goods manufactured” option2=”total cash available” option3=”total revenue” option4=”total goods sold” correct=”option3″]
Detailed SolutionCash receipts is added in to beginning cash balance to calculate
45. . . . . . . . . is most suitable when quality of work is of prime importance.
[amp_mcq option1=”Piece rate system” option2=”Time wage system” option3=”Both A and B” option4=”None of these” correct=”option4″]
Detailed Solution. . . . . . . . is most suitable when quality of work is of prime importance.
46. If employees of division A work for 8000 hours for $90 per hour, then rate must be paid in division B in accordance of single rate method will be
[amp_mcq option1=”$90 per hour” option2=”less than $90 per hour” option3=”greater than $90 per hour” option4=”none of above” correct=”option2″]
47. Sales budget is a:
[amp_mcq option1=”Functional budget” option2=”Master budget” option3=”Expenditure budget” option4=”None of these” correct=”option1″]
48. Cost analysis method, which uses mathematical method to use fit between past data observations and cost functions is termed as
[amp_mcq option1=”quantitative analysis method” option2=”qualitative analysis method” option3=”account analysis method” option4=”conference analysis method” correct=”option1″]
49. The amount paid to sub-contractor is ________.
[amp_mcq option1=”subtracted from the contract price” option2=”debited to contract a/c” option3=”credited to contract a/c” option4=”added with the contract price” correct=”option2″]
Detailed SolutionThe amount paid to sub-contractor is ________.
50. Function used to measure decline in labour hours per unit as units of production increases is called
[amp_mcq option1=”fixed curve” option2=”learning curve” option3=”linear curve” option4=”mixed curve” correct=”option2″]