Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Question
Correct Answer
Multiple Choice Single Answer
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Correct Answer
Correct Answer
Correct Answer
True/False
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Select The Blank
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Match The Following
Question
Dismissal of employee
Increased spoilage and defectives
Relationship between supervisor and worker
Transport facilities to employees
Multiple Choice Single Answer
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Multiple Choice Multiple Answer
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Correct Answer
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Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Select The Blank
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Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
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Correct Answer
True/False
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Multiple Choice Single Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Match The Following
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Accounting
Audit
Journal
Ledger
Select The Blank
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Multiple Choice Single Answer
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Select The Blank
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Multiple Choice Single Answer
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Multiple Choice Multiple Answer
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True/False
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
True/False
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Correct Answer
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Multiple Choice Single Answer
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True/False
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True/False
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Correct Answer
True/False
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Correct Answer
Select The Blank
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Multiple Choice Multiple Answer
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True/False
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Correct Answer
True/False
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Correct Answer
Match The Following
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Accounting
Balance-sheet
Book-Keeping
Financial statement
Profitability statement
Match The Following
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Bad debts
Bills Payable
Bills Receivable
Cash Discount
Trade Discount
True/False
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Correct Answer
True/False
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Single Answer
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Multiple Choice Single Answer
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True/False
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Correct Answer
True/False
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
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Correct Answer
Multiple Choice Single Answer
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Multiple Choice Multiple Answer
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Correct Answer
True/False
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Multiple Choice Multiple Answer
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Correct Answer
Correct Answer
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Correct Answer
Multiple Choice Single Answer
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True/False
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True/False
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Multiple Choice Multiple Answer
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Correct Answer
Correct Answer
True/False
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True/False
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Select The Blank
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Correct Answer
Select The Blank
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Correct Answer
Select The Blank
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Select The Blank
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Correct Answer
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Select The Blank
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Select The Blank
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Correct Answer
True/False
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Correct Answer
True/False
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Multiple Choice Single Answer
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Multiple Choice Single Answer
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Multiple Choice Multiple Answer
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Multiple Choice Single Answer
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Multiple Choice Single Answer
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Multiple Choice Single Answer
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Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Multiple Answer
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Multiple Choice Single Answer
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Multiple Choice Single Answer
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True/False
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True/False
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Correct Answer
Correct Answer
True/False
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
True/False
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Correct Answer
True/False
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Correct Answer
True/False
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
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Correct Answer
True/False
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Match The Following
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Carrying cost
E.O.Q
Inventory control
Ordering cost
Total cost
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
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Correct Answer
Correct Answer
Select The Blank
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
True/False
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Select The Blank
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True/False
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True/False
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Correct Answer
True/False
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Correct Answer
True/False
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Correct Answer
Match The Following
Question
Advantageously applicable in similar
industries
Avoids cut throat competition
Spirit of mutual trust
Treatment given to research and
development costs
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
True/False
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
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Correct Answer
Select The Blank
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Correct Answer
Select The Blank
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
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Correct Answer
Select The Blank
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
Question
Correct Answer
Select The Blank
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Correct Answer
True/False
Question
Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
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Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
True/False
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
True/False
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Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
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Correct Answer
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
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Correct Answer
Match The Following
Question
Budget
Budget committee
Cash budget
Purchase budget
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Match The Following
Question
Cost Centre
Cost Control
Differential Cost
Sunk Cost
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
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Correct Answer
True/False
Question
Correct Answer
Match The Following
Question
In tangible assets
Nominal A/C
Personal A/C
Real A/C
Tangible assets
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Correct Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Match The Following
Question
Daily Time sheets
Hand Written method
Time Recording Clock Method
Token or Disc Method
Weekly Time sheets
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Match The Following
Question
Advance
Application
Drawing
Outstanding
Prepaid
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Match The Following
Question
Depreciation
Discount allowed
Discount received
Interest on capital
Outstanding expenses
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Match The Following
Question
Abnormal overheads
Administration overheads
Fixed overheads
Indirect Material
Select The Blank
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Match The Following
Question
Decrease in selling price will lead to
Decrease in variable cost will lead to
Increase in contribution will lead to
Increase in fixed cost will lead to
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Match The Following
Question
Compensating Error
Error of commission
Error of Omission
Error of Principle
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Match The Following
Question
Deferred revenue expenditure
Deferred revenue expenditure written off
Drawings
Loan
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Match The Following
Question
Contribution - Fixed cost
Fixed cost + Variable cost
Total cost - Fixed cost
Total cost + Profit
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Match The Following
Question
Cash Discount
Real A/C
Rs.1 Personal A/C
Trade Discount
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Match The Following
Question
Daily Time sheets
Time booking department
Time Keeping Department
Time Recording Clock Method
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Correct Answer
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Match The Following
Question
Administration budget
Cash budget
Materials budget
Selling and distribution budget
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Match The Following
Question
Factory overheads
Non operating income
Selling and distribution overheads
Total cost
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Correct Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Correct Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Match The Following
Question
Labour hour method of absorption of
overheads
Percentage of direct labour cost methods of
absorption of overheads
Percentage of direct material cost methods
of absorption of overheads
Percentage of prime cost methods of
absorption of overheads
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Match The Following
Question
Factory Cost
Non-operating Expense
Non-operating Income
Selling & Distribution
Total Cost
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Match The Following
Question
Danger level
Fixation of inventory level
Maximum level
Minimum level
Re-order level
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
Select The Blank
Question
Correct Answer
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Correct Answer
Correct Answer
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Multiple Choice Multiple Answer
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Correct Answer
Correct Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Multiple Answer
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Multiple Choice Multiple Answer
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Correct Answer
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Multiple Choice Multiple Answer
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Correct Answer
Correct Answer
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Correct Answer
Correct Answer
Question
Correct Answer
Match The Following
Question
Diemer system
Differential Time rate
Payment by Result
Straight Piece rate system
Time rate System
Multiple Choice Multiple Answer
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Match The Following
Question
contribution – fixed cost
Fixed cost + variable cost
sales- variable cost
Total cost – fixed cost
Total cost + profit
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Select The Blank
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Correct Answer
Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
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Correct Answer
True/False
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
True/False
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Correct Answer
True/False
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True/False
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Match The Following
Question
Compensating Error
Difference in trial balance
Error of commission
Error of Omission
Error of Principle
True/False
Question
Correct Answer
Match The Following
Question
Controllable Cost
Differential Cost
Opportunity Cost
Sunk Cost
Uncontrollable Cost
True/False
Question
Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Correct Answer
Correct Answer
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Multiple Choice Single Answer
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Multiple Choice Single Answer
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Correct Answer
Select The Blank
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Correct Answer
Correct Answer
Select The Blank
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Correct Answer
Select The Blank
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Multiple Choice Multiple Answer
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Multiple Choice Single Answer
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Correct Answer
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Correct Answer
True/False
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
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Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Multiple Answer
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Multiple Choice Multiple Answer
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Correct Answer
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Multiple Choice Multiple Answer
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Correct Answer
True/False
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Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Multiple Answer
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Select The Blank
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Match The Following
Question
Compensating Error
Error of Principle
Error of Omission
Error of commission
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Match The Following
Question
Purchase budget
Budget committee
Cash budget
Budget
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Select The Blank
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Select The Blank
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Correct Answer
True/False
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Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Correct Answer
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Correct Answer
Select The Blank
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Multiple Choice Multiple Answer
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Correct Answer
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Correct Answer
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Select The Blank
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Multiple Choice Single Answer
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Correct Answer
True/False
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Correct Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Match The Following
Question
Advantageously applicable in similar
industries
Avoids cut throat competition
Spirit of mutual trust
Treatment given to research and
development costs
Multiple Choice Multiple Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Match The Following
Question
Deferred revenue expenditure
Deferred revenue expenditure written off
Drawings
Loan
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Correct Answer
Question
Correct Answer
Multiple Choice Multiple Answer
Question
Correct Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Multiple Answer
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Question
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Multiple Choice Single Answer
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Multiple Choice Multiple Answer
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Correct Answer
Multiple Choice Multiple Answer
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Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Match The Following
Question
Dividend paid
Freight inwards
Freight outwards
Sales
Select The Blank
Question
Correct Answer
Multiple Choice Single Answer
Question
Correct Answer
Multiple Choice Multiple Answer
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Correct Answer
Question
Correct Answer
Multiple Choice Single Answer
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Multiple Choice Multiple Answer
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Correct Answer
Question
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Multiple Choice Single Answer
Question
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Multiple Choice Single Answer
Question
Correct Answer
True/False
Question
Correct Answer
Match The Following
Question
Non-Operating income
Operating income
Plan for surplus/shortage of cash
Plan of investment in fixed assets
Multiple Choice Multiple Answer
Question
Correct Answer
Select The Blank
Question
Correct Answer
Select The Blank
Question
Correct Answer
True/False
Question
Correct Answer
Multiple Choice Single Answer
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Correct Answer
Multiple Choice Single Answer
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Correct Answer
True/False
Question
Correct Answer
Multiple Choice Multiple Answer
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Multiple Choice Multiple Answer
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Correct Answer
Management Accounting
ist of Attempted Questions and Answers
Correct Answer
Unavoidable cause of labour turnover
Replacement cost of labour turnover
Avoidable cause of labour turnover
Preventive cost of labour turnover
The handloom industry will have ________ fixed cost and high
variable cost.
Low
XYZ & Co. has taken a loan of Rs.100,000/- @ 15% p.a.on 1st
October, 2003. Interest is to be paid on half yearly basis. What
treatment should be given in the books of accounts of XYZ & Co. as
on 31st March, 2004?
Interest account should be debited with Rs.7,520.55 and
outstanding interest account should be credited with Rs.7,520.55
Correct Answer
Process of analyzing & interpretation
Reviewing internal control system
Book of original entry
Maintain all types of accounts
You are using petrol as one of the raw materials. Daily you
purchase 1,000 litres of petrol at Rs.28.50 per ltire. 5% of it
generally gets lost due to spillage and evaporation. On a particular
hot and dry day, the issue of petrol from 1,000 litres drum was as
follows : To job X 200 litres; job Y 400 litres and job Z 320 litres.
After these issues the drum was empty. Calculate per litre charge
for use of petrol, quantum of loss and total quantum of petrol used
for jobs X,Y and Z.
Loss due to spillage and evaporation - 30 litres. , Rate of charge per
litre of petrol - Rs.30/-
Identify the causes due to which the cost of labour may be high:
Excess staffing , Lack of experienced and efficient personnel , High
labour turnover
Correct Answer
Process of analyzing & interpretation
Financial status
Books of Accounts
Profitability statement & Balance-sheet
Indicates the amount of profit earned
Correct Answer
Amount not received from customer
Amount payable to supplier
Amount received from the customer
Accounted for in the books of Accounts
Not accounted for in the books of Accounts
Amit sold Goods to Atul for Rs. 50,000 on cash & Rs. 50,000 on
credit basis & allowed 10% discount on on the spot transaction.
Cash Account debited to Rs. _____________
45000
Amit purchase of Rs. 6710 had been posted to the debit of the
creditors A/C as 6170 rectifying the transaction the creditor A/C is
to be debited amount to Rs
540
A bill of Rs. 500 for old furniture sold to Raj, was entered in the
sales day book
False
The prime cost is Rs. 10,00,000 the factory cost is Rs. 13,00,000,
the total administration overheads are 14,00,000 and having selling
overhead of Rs. 86000. What is the Total cost?
37,86,000
Material cost is the first and probably the most important element
of cost.
True
Fixed cost is the cost that varies in direct proportion with the level
of activity or volume of operations.
False
Standard costing and Marginal Costing are the best possible tools
available to the management for cost control
False
________ Legal charges and ________ are the accounts which are
shown on the debit side of Profit & Loss Account
Like office rent,
Audit fees
Accounts is a
Record of all transaction
The Bin card and stores ledges do not match due to the following
reasons:
Arithmetical errors in calculating , Non- posting a certain
document , Posting a wrong Bin card
Fixed cost tends to vary with time rather than with level of activity.
True
Correct Answer
Cost of holding the inventory
Economic Ordering Quantity
Maintain the inventory of any kind
Associated with administrative efforts
Ordering cost + carrying cost
Correct Answer
All the properties owned by the business
Withdrawn for personal use
Book of original entry
Maintain all types of Accounts
All the amount owed by the business
The ________ adjustment is necessary to relfect the cost for the use
of fixed asset during the year.
Depreciation
Select the cost that indicates increased or decreased total cost due
to the increased or decreased volume of operations.
Differential cost
The process of accounting split into three steams i.e. financial, cost,
management accounting.
True
Correct Answer
Scope of uniform costing
Advantage of uniform costing
Requisite for uniform costing
Fields covered by uniform costing
Two competing companies Hero Ltd. and Zero Ltd. sell the same
type of product in the market. Their forecasted profit and loss
accounts for the year ending December 2003 are as follows : Hero
Ltd.: Sales Rs.500,000/-; Variable cost Rs.400,000/-; fixed costs
Rs.50,000/-. Zero Ltd.:Sales Rs.500,000/-; Variable cost
Rs.300,000/-; fixed costs Rs.150,000/-. You are
Hero Ltd.
Information as to the cost and profit / loss associated with the firm's
operations is provided to the ________ by Management accounting.
Management
Loan @ 12% p.a. of Rs.50,000/- was taken on 1st March, 2004. Find
the interest expenditure on 31st March, 2004.
Rs.500/-
The sum of indirect material cost, indirect labour cost and indirect
expenses is termed as Overheads.
True
The column which refers to the page number of the ledger is known
as ________.
Ledger folio
The labour cost which can be identified with the individual cost
centre is known as the Direct Labour Cost.
True
If the firm is operating with zero margin of safety, decline of even a
single unit in sales will result in ________.
Loss
Correct Answer
Objective is performance evaluation
Analyses the performance of different budget centres
Assists in predicting shortage of cash
Forecast of quantity and value of materials
Correct Answer
Facilitate the fixation of responsibility
Process of controlling costs of operations
Increase or Decrease in cost
Historical Cost
Financial Accounting is …
Designed to supply information to internal/ external users ,
Referred as 'Historical' form of accounting , Concerned with
financial factors
If the total manufacturing overhead of a tiles producing factory
amounted to Rs.15 lakhs and the overhead rate was Rs.5/- per
sq.ft, then the production for the period can be stated as ________
sq.ft. tiles.
300000
If the customer is not likely to pay the amount receivable from him,
this amount should to be treated as ________.
Bad debts
XYZ Ltd. has sufficient idle capacity. It has received an enquiry for
the supply of 300 units (packed in better box at an additional cost
of Rs.20/- per box). The variable cost of manufacturing the product
is Rs.150/-. The company expects a profit of Rs.6,000/- from this
wholesale offer. What minimum price should it quote for this deal?
Rs.190/-
The sales mix variance highlights the fact that the actual mix of
sales has been in the same ratio as budgeted.
False
Correct Answer
Patents, Trade marks
Debit all the expenses, Credit all the incomes
Debit the receiver, Credit the giver
Debit what comes in, Credit what goes out
Building, Machinery
Depreciation
Amount charged on Fixed Assets.
Rs. 2500 paid for the purchase of radio set for personal use of
proprietor debited to general expenses account for rectifying the
error, which A/C to be debited
Drawing A/C
Store ledger
Record of all receipts and issue transactions , Financial expressions
of all transactions , Maintenance of Store ledges provides a second
check
Following points are taking into consideration for evaluation of
receipts
The Price , The trade discount is to be deducted , Other amounts
such as sales tax, excise duty, octroi duty
The Budget key factor may be in the form of sales, raw material,
labour etc.
True
For a material, if standard quantity is 500 kg and standard price is
Rs.6/- per kg. Find out the Material Cost variance if actual quantity
is 400 kg and actual price is Rs.6/- per kg.
Rs.600/-( favorable )
Correct Answer
Time spent by worker on job is recorded
Attendance register
Ticket number & clock card allotted to worker
Token number & identification number allotted to worker
Record of time for all the jobs during the week is made
Along with financial accounting, ________ and ________ are the other
streams of accounting
Cost Accounting
Management Accounting
Old furniture sold for Rs. 5400 has been entered as Rs 4500 in the
cash book, for rectifying the same Suspense A/C credited to Rs
900
Debit the receiver & credit the giver is a rule of Real a/c.
False
Correct Answer
Not related in current year
Increase in Assets
Amount of personal use
Amount still payable in current year
Amount paid for next year
FIFO method
The price of the earliest available lot is considered first , If the lot is
exhausted, the price of the next available lot is considered , It is
used for issue of material
From the following data, workout the EOQ annual demand. 5000
units, ordering cost Rs. 60 per unit, price per unit Rs. 100, inventory
carrying cost15% on average inventory
300
Correct Answer
Assets
Debtors
Suppliers
Borrowed capital
Liabilities
Correct Answer
Normality wise classification
Function wise classification
Variability wise classification
Element wise classification
Ram and Laxman are partners of Kush & Bros. As on 1st April, 2003
Ram's capital is Rs.50,000/- and Laxman's capital is Rs.80,000/-. If
interest on capital is to be provided @ 10% p.a., what will be
amount of capital of each of the partners as on 31st March, 2004,
assuming there were no additions during this period? Also, state
the treatment of this item in the Profit and loss account.
Ram's capital Rs.55,000/- , Laxman's capital Rs.88,000/- , Interest
on capital should be debited to the Profit and loss account
Correct Answer
Decrease in contribution
Increase in profit volume ratio
Increase in profits
Increase in break even point
Economical use of labour, materials and facilities can achieved with
the help of ________.
Budgetary control
Correct Answer
Wrong classification
Wrong Posting
Transaction is totally omitted
Trial Balance does not get affected
Correct Answer
Real account
Nominal account
Proprietor's account
Personal account
If the bank pays off the credit card bill, as per the standing
instructions, the overdraft as per bank book will be ________ the
overdraft as per pass book.
Lesser than
A cheque of Rs.400/- received and deposited into bank on 26th
September, was credited in the pass book but was omitted to be
entered in the bank book: this error will result in :
Difference in the balance as per bank book and as per pass book
If the ordering cost ________s, then the economic order quantity will
Increase.
Increase
Which of the following is the most efficient use of the clock card?
To facilitate payment for time spend on the work premises
The variance which measures the deviation of the rate actually paid
to labour as from the standard hourly rate is known as:
Labour rate variance
The actual hours taken by the labour are compared with the
standard hours allowed for output to find out the labour yield
variance.
True
From the following data, determine the net profit if sales are 20%
above the break even point. Selling price Rs.20/- per unit, variable
cost Rs.15/- per unit and fixed overheads Rs.20,000/-
Rs.4,000/-
The balance of the suspense account will ________ after all the
errors are
become zero
A' started business with cash Rs. 5,000/-, building Rs. 5,000/-,
furniture Rs. 2,000/-. What is the total amount of capital?
Rs. 12,000
The present unit cost data for a product is as follows: selling price
Rs.15/-, variable costs Rs.8/-. If selling prices are reduced by 10%
and variable costs are increased by 12.5%. Which of the following is
the amended contribution to sales ratio?
0.33
The document which lays down the cost accounting plans and
procedures to be followed by the constituent units is known as
________.
uniform cost manual
The use of contribution per unti of limiting factor as the basis for
ranking products to be produced and sold is aimed at which of the
following?
Maximisation of short-term profit
If the physical stock is less than the stock as per the stores ledger,
such shortage should be treated as an issue of material.
True
The problem of multiple key factors can be solved with the help of
techniques like linear programming, operations research, etc.
True
Correct Answer
Accounted for in the books of Accounts
Debit what comes in, Credit what goes out
Debit the receiver, Credit the giver
Not accounted for in the books of Accounts
The selection of ________ may depend upon the various factors like
characteristics of the business organisation, tax considerations,
statutory requirements etc.
Accounting period
Correct Answer
Time spent by worker on job is recorded
Jobwise booking of time.
Recording of workers time
Ticket number & clock card allotted to worker
Match
True
Budgeted profit and loss account and budgeted balance sheet are
also known as ________.
Master budget
Which system can assist in fixing a common selling price for the
industry as a whole on the basis of cost of production of all units
belonging to that industry ?
Uniform costing
The phrase 'By Balance c/d.' written on the credit side of the rent
account, indicates credit balance for this account.
False
Sita and Gita are partners of SGL & Co. As on 1st August, 2003
Sita's capital stood as Rs.10,000/- and Gita's capital as Rs.18,000/-.
If interest on capital is to be provided @ 10% p.a., what should be
the treatment of this interest in the profitability statement,
assuming there were no additions to capital during this period?
Profit and loss account should be debited with Rs.1,866.67
Credit balances in all the Personal & Real accounts appear on asset
side.
False
Entry for dishonour of cheque appears only in the pass book, this
entry should be ________ in the bank book.
Passed
Since the pass book and the bank book record the ________
transactions, the bank balance as per these books should be equal.
Same
Amit sold Goods to Atul for Rs. 50,000/- on cash & Rs. 50,000/- on
credit basis. Amit allowed 10% discount for on the spot transaction.
What is the amount that should be debited to the cash account?
Rs.45,000/-
Under the AB________ analysis, nuts and bolts used as material will
be classified as category C.
C
Net book value of loose tools as on 1st April, 2003 was Rs.45,000/-.
As on 31st March, 2004 the management felt that the real worth of
these loose tools is only Rs.30,000/-. What can be done to achieve
the desired reduction in the net book value of loose tools?
By providing depreciation to the extent of Rs.15,000/-
Correct Answer
Salary of CEO
Interest on loan
Carriage inwards
Cost of demand creation
Mr. Oak, materials manager, spends 40% time in the factory and
the remaining in office. If his annual salary is Rs.500,000/-, what
amount should be charged as office overheads ?
Rs.300,000/-
Correct Answer
Land & Building
Work in Progress
Commission received
Closing stock of finished goods
M/s Vivek Enterprises has paid rent relating to the residence of Mr.
Vivek, proprietor of Vivek Enterprises. This payment should be
treated as
Drawings
Measurement of ________ gives an idea of the degree of mobility of
labour.
Labour turnover
Net profit for the year before charging commission to the manager,
is Rs.111,775/-. The manager of the company is entitled to
commission @ 8% on net profits after charging commission. Find
the amount of commission due to the manager.
Rs.8,279.63
Correct Answer
Repair for factory building
Profit on sale of investment
Advertisement expenses
Cost of finished goods
Long term loan borrowed from financial institution comes under the
heading of long term liabilities.
True
Angle formed by the intersection of total cost line and sales line is
called angle of ________.
Incidence
Management Accounting is :-
Designed particularly for internal use , Helpful in estimating the
future along with past period , Useful in furnishing the necessary
information to the management
Correct Answer
Not affected by output related remuneration schemes
The system which combines the benefits of time rate and piece
rate system by providing a minimum time rate payment along with
incentives is known as ________ system.
Gantt task bonus
Correct Answer
Profit and loss appropriation account
Manufacturing account
Profit and loss account
Trading account
________is the summary of all the balances in all the accounts listed
in ledger account of an organization at any given point of time.
Trial Balance
Interest on bank loan, was paid till the quarter ending 30th
September, 2003, Rs.36,000/-. Find the amount to be debited to
the profit and loss account for the year ending on 31st March,
2004, assuming the loan is not yet repaid as on this date.
Rs.72,000/-
The sum of indirect material cost, indirect labour cost and indirect
expenses is termed as factory cost.
False
With the help of the given information, find actual fixed overheads
for actual output. Fixed overheads volume variance -Rs.75,000/-
(Favourable); fixed overheads efficiency variance -Rs.95,000/-
(Favourable); fixed overheads calendar variance Rs.20,000/-
(Adverse); fixed voerheads expenditure variance Rs.100,000/-
(Adverse) and standard fixed overheads for actual output
-Rs.575,000/-.
Rs.600,000/-
The operating profit as per cost statement may differ from the
profit as per Profit and Loss Account due to existence of
Depreciation on plant and machinery , Interest on loans taken from
other , Interest on loans granted to others
The periodical total of sales book was cash short by Rs. 5000 for
rectifying the same, which A/C to be debited
Suspense A/C
Correct Answer
Repair for factory building
Dividend on shares
Profit on sale of shares
Advertisement
Cost of finished goods
The Bin card and stores ledges do not match due to the following
reasons:
Arithmetical errors in calculating , Non- posting a certain
document , Posting a wrong Bin card
Identify the causes due to which the cost of labour may be high:
Excess staffing , Lack of experienced and efficient personnel , High
labour turnover
Two competing companies Hero Ltd. and Zero Ltd. sell the same
type of product in the market. Their forecasted profit and loss
accounts for the year ending December 2003 are as follows : Hero
Ltd.: Sales Rs.500,000/-; Variable cost Rs.400,000/-; fixed costs
Rs.50,000/-. Zero Ltd.:Sales Rs.500,000/-; Variable cost
Rs.300,000/-; fixed costs Rs.150,000/-. You are
Hero Ltd.
You are using petrol as one of the raw materials. Daily you
purchase 1,000 litres of petrol at Rs.28.50 per ltire. 5% of it
generally gets lost due to spillage and evaporation. On a particular
hot and dry day, the issue of petrol from 1,000 litres drum was as
follows : To job X 200 litres; job Y 400 litres and job Z 320 litres.
After these issues the drum was empty. Calculate per litre charge
for use of petrol, quantum of loss and total quantum of petrol used
for jobs X,Y and Z.
Loss due to spillage and evaporation - 30 litres. , Rate of charge per
litre of petrol - Rs.30/-
Correct Answer
Halsey system & Gantt System
Different hourly rates are fixed for different levels of efficiency
Workers are paid according to the production achieved by him
The rate of payment is fixed per piece
Worker is paid on the basis of time attended by him
(No. of unit * Rate of depreciation per unit ) this formula is used for
written down value method.
False
Selling price per tonne is Rs. 69.50 , variable cost per tonne is Rs.
35.50 and fixed cost is Rs. 18,02000. Find out the BEP in units,
53000
A good wage payment system will not punish the workers for the
matters beyond the control of the workers.
True
Fixed assets do not give the returns during the same period during
which they are paid for
True
Correct Answer
Wrong classification
Transferred to suspense account
Wrong Posting
The transaction is totally omitted
Trial Balance does not get affected
Correct Answer
Increase or Decrease in cost
Historical Cost
Cost can be controlled
Cannot be controlled
Return or yield
Dividend received is a Non-operating Income.
True
Variable costs are the controllable costs at the ________ level of the
management whereas fixed costs can be controlled only on the
________ level of the management
Lower
Top
________ Legal charges and ________ are the accounts which are
shown on the debit side of Profit & Loss Account
Like office rent
Audit fees
If the profit volume ratio is 25%, then the variable cost is equal to
________ of sales value.
0.75
200 units of material were purchased from X @ Rs.5/- per unit and
300 units were purchased from Y @ Rs.6/- per unit. The
organisation follows FIFO system of pricing of issues and the above
purchases have been recorded in stores ledger. 120 units have
already been issued. 60 units received from X are defective and are
therefore returned. Find the value of the material returned to X.
Rs.300/-
Mr. Oak, materials manager, spends 40% time in the factory and
the remaining in office. If his annual salary is Rs.500,000/-, what
amount should be charged as office overheads?
Rs.300,000/-
Find the balance as per pass book. Bank Book - 10/10/04 - Paid rent
Rs.10,000/-; 15/10/04 - Received cheque from debtor, Mr. X, for
Rs.15,000/-; 20/10/04 - Issued cheque of Rs.25,000/- to Rahul
Construction Co.; 25/10/04 - Issued cheque for Rs.5,000/- to XYZ
Ltd. and balance as on 01/10/04 - Rs.55,000/-. Pass Book : 5/11/04
debited Rs.25,000/- being cheque of Rahul Construction Co.;
6/11/04 debited Rs.5,000/- being cheque of XYZ Ltd. and 9/12/04
credited Rs.15,000/- being cheque of Mr. X.
Rs.70,000/-
The document which lays down the cost accounting plans and
procedures to be followed by the constituent units is known as
________.
Uniform cost manual
________ is the summary of all the balances in all the accounts listed
in ledger account of an organization at any given point of time.
Trial Balance
Correct Answer
Wrong classification
Trial Balance does not get affected
Transaction is totally omitted
Wrong Posting
Correct Answer
Forecast of quantity and value of materials
Analyses the performance of different budget centres
Assists in predicting shortage of cash
Objective is performance evaluation
Purchase day book for the month of April was under cast by
Rs.1000/- which account should be credited ? ________
Suspense Account
Revenues are more than the differential costs, then the proposed
project should be ________
accepted
Correct Answer
Scope of uniform costing
Advantage of uniform costing
Requisite for uniform costing
Fields covered by uniform costing
Correct Answer
Real account
Nominal account
Proprietor's account
Personal account
Hourly wage rate is Rs.25/- and the time allowed for a job is 15
hours. Harry completed the job in 12 hours. Calculate the effective
hourly earnings for Harry under Halsey Plan.
Rs.28.12
If the sales forecast is less than the past sales but the top
management insists upon a certain amount of additional profits,
then following steps can be taken to achieve the target profit
Increase the selling price , Reduce cost of sales , Increase the
selling efforts
For the given transaction find the wrong entry that has been passed
in the books of accounts, the correct entry that should have been
passed and the rectification entry required to rectify the mistake.
"On 1st September, 2004 the total of the previous month's wages
was debited to 'Manufacturing Wages Account". During the
previous month, a new machine was installed, and the firm's own
employees had spent time thereon; the previous month's wages for
all such employees amounted to
Machinery A/c. . . Dr. Rs.14,100/- To Manufacturing Wages A/c
Rs.14,100/- , Machinery A/c . . . Dr. Rs.14,100/- To Cash A/c
Rs.14,100/- , Rs.14,100/- To Cash A/c Rs.14,100/-
Correct Answer
Profit and loss appropriation account
Manufacturing account
Profit and loss account
Trading account
The process of finding the reasons for the difference in the balance
as per bank book and pass book is known as ________.
Reconciliation
Correct Answer
Issue of shares
Cash Sales
Cash Budget
Capital Expenditure Budget
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Management Accounting
ist of Attempted Questions and Answers
The handloom industry will have ________ fixed cost and high
variable cost.
Low
The ________ adjustment is necessary to relfect the cost for the use
of fixed asset during the year.
Depreciation
Information as to the cost and profit / loss associated with the firm's
operations is provided to the ________ by Management accounting.
Management
The column which refers to the page number of the ledger is known
as ________.
Ledger folio
If the customer is not likely to pay the amount receivable from him,
this amount should to be treated as ________.
Bad debts
If the bank pays off the credit card bill, as per the standing
instructions, the overdraft as per bank book will be ________ the
overdraft as per pass book.
Lesser than
If the ordering cost ________s, then the economic order quantity will
Increase.
Increase
The balance of the suspense account will ________ after all the
errors are
become zero
The document which lays down the cost accounting plans and
procedures to be followed by the constituent units is known as
________.
uniform cost manual
The selection of ________ may depend upon the various factors like
characteristics of the business organisation, tax considerations,
statutory requirements etc.
Accounting period
Budgeted profit and loss account and budgeted balance sheet are
also known as ________.
Master budget
Entry for dishonour of cheque appears only in the pass book, this
entry should be ________ in the bank book.
Passed
Since the pass book and the bank book record the ________
transactions, the bank balance as per these books should be equal.
Same
Under the AB________ analysis, nuts and bolts used as material will
be classified as category C.
C
Angle formed by the intersection of total cost line and sales line is
called angle of ________.
Incidence
The system which combines the benefits of time rate and piece
rate system by providing a minimum time rate payment along with
incentives is known as ________ system.
Gantt task bonus
________is the summary of all the balances in all the accounts listed
in ledger account of an organization at any given point of time.
Trial Balance
Re-order level should be higher than ________ but lesser than
maximum stock level.
Minimum level
If the profit volume ratio is 25%, then the variable cost is equal to
________ of sales value.
0.75
The document which lays down the cost accounting plans and
procedures to be followed by the constituent units is known as
________.
Uniform cost manual
________ is the summary of all the balances in all the accounts listed
in ledger account of an organization at any given point of time.
Trial Balance
Purchase day book for the month of April was under cast by
Rs.1000/- which account should be credited ? ________
Suspense Account
Revenues are more than the differential costs, then the proposed
project should be ________
accepted
The process of finding the reasons for the difference in the balance
as per bank book and pass book is known as ________.
Reconciliation
________ Legal charges and ________ are the accounts which are
shown on the debit side of Profit & Loss Account
Like office rent,
Audit fees
Along with financial accounting, ________ and ________ are the other
streams of accounting
Cost Accounting
Management Accounting
Variable costs are the controllable costs at the ________ level of the
management whereas fixed costs can be controlled only on the
________ level of the management
Lower
Top
________ Legal charges and ________ are the accounts which are
shown on the debit side of Profit & Loss Account
Like office rent
Audit fees
Management Accounting
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Management Accounting
ist of Attempted Questions and Answers
XYZ & Co. has taken a loan of Rs.100,000/- @ 15% p.a.on 1st
October, 2003. Interest is to be paid on half yearly basis. What
treatment should be given in the books of accounts of XYZ & Co. as
on 31st March, 2004?
Interest account should be debited with Rs.7,520.55 and
outstanding interest account should be credited with Rs.7,520.55
Amit sold Goods to Atul for Rs. 50,000 on cash & Rs. 50,000 on
credit basis & allowed 10% discount on on the spot transaction.
Cash Account debited to Rs. _____________
45000
Amit purchase of Rs. 6710 had been posted to the debit of the
creditors A/C as 6170 rectifying the transaction the creditor A/C is
to be debited amount to Rs
540
The prime cost is Rs. 10,00,000 the factory cost is Rs. 13,00,000,
the total administration overheads are 14,00,000 and having selling
overhead of Rs. 86000. What is the Total cost?
37,86,000
Accounts is a
Record of all transaction
Select the cost that indicates increased or decreased total cost due
to the increased or decreased volume of operations.
Differential cost
Loan @ 12% p.a. of Rs.50,000/- was taken on 1st March, 2004. Find
the interest expenditure on 31st March, 2004.
Rs.500/-
XYZ Ltd. has sufficient idle capacity. It has received an enquiry for
the supply of 300 units (packed in better box at an additional cost
of Rs.20/- per box). The variable cost of manufacturing the product
is Rs.150/-. The company expects a profit of Rs.6,000/- from this
wholesale offer. What minimum price should it quote for this deal?
Rs.190/-
Rs. 2500 paid for the purchase of radio set for personal use of
proprietor debited to general expenses account for rectifying the
error, which A/C to be debited
Drawing A/C
Old furniture sold for Rs. 5400 has been entered as Rs 4500 in the
cash book, for rectifying the same Suspense A/C credited to Rs
900
Which of the following is the most efficient use of the clock card?
To facilitate payment for time spend on the work premises
The variance which measures the deviation of the rate actually paid
to labour as from the standard hourly rate is known as:
Labour rate variance
From the following data, determine the net profit if sales are 20%
above the break even point. Selling price Rs.20/- per unit, variable
cost Rs.15/- per unit and fixed overheads Rs.20,000/-
Rs.4,000/-
The present unit cost data for a product is as follows: selling price
Rs.15/-, variable costs Rs.8/-. If selling prices are reduced by 10%
and variable costs are increased by 12.5%. Which of the following is
the amended contribution to sales ratio?
0.33
The use of contribution per unti of limiting factor as the basis for
ranking products to be produced and sold is aimed at which of the
following?
Maximisation of short-term profit
Which system can assist in fixing a common selling price for the
industry as a whole on the basis of cost of production of all units
belonging to that industry ?
Uniform costing
Sita and Gita are partners of SGL & Co. As on 1st August, 2003
Sita's capital stood as Rs.10,000/- and Gita's capital as Rs.18,000/-.
If interest on capital is to be provided @ 10% p.a., what should be
the treatment of this interest in the profitability statement,
assuming there were no additions to capital during this period?
Profit and loss account should be debited with Rs.1,866.67
Amit sold Goods to Atul for Rs. 50,000/- on cash & Rs. 50,000/- on
credit basis. Amit allowed 10% discount for on the spot transaction.
What is the amount that should be debited to the cash account?
Rs.45,000/-
The total production cost for making 20,000 units was Rs.21,000/-
and the total production cost for making 50,000 units was
Rs.34,000/-. Once production exceeds 25,000 units, additional fixed
costs of Rs.4,000/- are incurred. The full production cost per unit of
making 30,000 units is:
Re.0.98
Net book value of loose tools as on 1st April, 2003 was Rs.45,000/-.
As on 31st March, 2004 the management felt that the real worth of
these loose tools is only Rs.30,000/-. What can be done to achieve
the desired reduction in the net book value of loose tools?
By providing depreciation to the extent of Rs.15,000/-
Mr. Oak, materials manager, spends 40% time in the factory and
the remaining in office. If his annual salary is Rs.500,000/-, what
amount should be charged as office overheads ?
Rs.300,000/-
M/s Vivek Enterprises has paid rent relating to the residence of Mr.
Vivek, proprietor of Vivek Enterprises. This payment should be
treated as
Drawings
Net profit for the year before charging commission to the manager,
is Rs.111,775/-. The manager of the company is entitled to
commission @ 8% on net profits after charging commission. Find
the amount of commission due to the manager.
Rs.8,279.63
A company wishes to earn a 15% profit margin on selling price
when quoting for a job. Which of the following is the profit margin
of cost which will achieve the required profit margin ?
0.18
Interest on bank loan, was paid till the quarter ending 30th
September, 2003, Rs.36,000/-. Find the amount to be debited to
the profit and loss account for the year ending on 31st March,
2004, assuming the loan is not yet repaid as on this date.
Rs.72,000/-
With the help of the given information, find actual fixed overheads
for actual output. Fixed overheads volume variance -Rs.75,000/-
(Favourable); fixed overheads efficiency variance -Rs.95,000/-
(Favourable); fixed overheads calendar variance Rs.20,000/-
(Adverse); fixed voerheads expenditure variance Rs.100,000/-
(Adverse) and standard fixed overheads for actual output
-Rs.575,000/-.
Rs.600,000/-
Fixed deposit bearing interest @ 5.50%, for Rs.10,000/- was kept
with Bank of India on 1st June, 2003, for a period of one year. The
type of the fixed deposit is cumulative, i.e. interest shall be
received only on maturity. What treatment should be given in the
books of accounts on 31st March, 2004, the year ending date?
An entry for Rs.458.34, debiting interest accrued but not due
account should be passed
The periodical total of sales book was cash short by Rs. 5000 for
rectifying the same, which A/C to be debited
Suspense A/C
Two competing companies Hero Ltd. and Zero Ltd. sell the same
type of product in the market. Their forecasted profit and loss
accounts for the year ending December 2003 are as follows : Hero
Ltd.: Sales Rs.500,000/-; Variable cost Rs.400,000/-; fixed costs
Rs.50,000/-. Zero Ltd.:Sales Rs.500,000/-; Variable cost
Rs.300,000/-; fixed costs Rs.150,000/-. You are
Hero Ltd.
Selling price per tonne is Rs. 69.50 , variable cost per tonne is Rs.
35.50 and fixed cost is Rs. 18,02000. Find out the BEP in units,
53000
The cost that varies in direct proportion with the level of activity is
called
variable cost
200 units of material were purchased from X @ Rs.5/- per unit and
300 units were purchased from Y @ Rs.6/- per unit. The
organisation follows FIFO system of pricing of issues and the above
purchases have been recorded in stores ledger. 120 units have
already been issued. 60 units received from X are defective and are
therefore returned. Find the value of the material returned to X.
Rs.300/-
Mr. Oak, materials manager, spends 40% time in the factory and
the remaining in office. If his annual salary is Rs.500,000/-, what
amount should be charged as office overheads?
Rs.300,000/-
Find the balance as per pass book. Bank Book - 10/10/04 - Paid rent
Rs.10,000/-; 15/10/04 - Received cheque from debtor, Mr. X, for
Rs.15,000/-; 20/10/04 - Issued cheque of Rs.25,000/- to Rahul
Construction Co.; 25/10/04 - Issued cheque for Rs.5,000/- to XYZ
Ltd. and balance as on 01/10/04 - Rs.55,000/-. Pass Book : 5/11/04
debited Rs.25,000/- being cheque of Rahul Construction Co.;
6/11/04 debited Rs.5,000/- being cheque of XYZ Ltd. and 9/12/04
credited Rs.15,000/- being cheque of Mr. X.
Rs.70,000/-
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Management Accounting
ist of Attempted Questions and Answers
A bill of Rs. 500 for old furniture sold to Raj, was entered in the
sales day book
False
Material cost is the first and probably the most important element
of cost.
True
Fixed cost is the cost that varies in direct proportion with the level
of activity or volume of operations.
False
Standard costing and Marginal Costing are the best possible tools
available to the management for cost control
False
Fixed cost tends to vary with time rather than with level of activity.
True
The process of accounting split into three steams i.e. financial, cost,
management accounting.
True
The sum of indirect material cost, indirect labour cost and indirect
expenses is termed as Overheads.
True
The labour cost which can be identified with the individual cost
centre is known as the Direct Labour Cost.
True
The sales mix variance highlights the fact that the actual mix of
sales has been in the same ratio as budgeted.
False
The Budget key factor may be in the form of sales, raw material,
labour etc.
True
Debit the receiver & credit the giver is a rule of Real a/c.
False
The actual hours taken by the labour are compared with the
standard hours allowed for output to find out the labour yield
variance.
True
If the physical stock is less than the stock as per the stores ledger,
such shortage should be treated as an issue of material.
True
Match
True
Credit balances in all the Personal & Real accounts appear on asset
side.
False
Long term loan borrowed from financial institution comes under the
heading of long term liabilities.
True
The sum of indirect material cost, indirect labour cost and indirect
expenses is termed as factory cost.
False
(No. of unit * Rate of depreciation per unit ) this formula is used for
written down value method.
False
A good wage payment system will not punish the workers for the
matters beyond the control of the workers.
True
Fixed assets do not give the returns during the same period during
which they are paid for
True
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236
Correct Answer
You are using petrol as one of the raw materials. Daily you
purchase 1,000 litres of petrol at Rs.28.50 per ltire. 5% of it
generally gets lost due to spillage and evaporation. On a particular
hot and dry day, the issue of petrol from 1,000 litres drum was as
follows : To job X 200 litres; job Y 400 litres and job Z 320 litres.
After these issues the drum was empty. Calculate per litre charge
for use of petrol, quantum of loss and total quantum of petrol used
for jobs X,Y and Z.
Loss due to spillage and evaporation - 30 litres. , Rate of charge per
litre of petrol - Rs.30/-
The Bin card and stores ledges do not match due to the following
reasons:
Arithmetical errors in calculating , Non- posting a certain
document , Posting a wrong Bin card
Financial Accounting is …
Designed to supply information to internal/ external users ,
Referred as 'Historical' form of accounting , Concerned with
financial factors
Store ledger
Record of all receipts and issue transactions , Financial expressions
of all transactions , Maintenance of Store ledges provides a second
check
Following points are taking into consideration for evaluation of
receipts
The Price , The trade discount is to be deducted , Other amounts
such as sales tax, excise duty, octroi duty
FIFO method
The price of the earliest available lot is considered first , If the lot is
exhausted, the price of the next available lot is considered , It is
used for issue of material
From the following data, workout the EOQ annual demand. 5000
units, ordering cost Rs. 60 per unit, price per unit Rs. 100, inventory
carrying cost15% on average inventory
300
Ram and Laxman are partners of Kush & Bros. As on 1st April, 2003
Ram's capital is Rs.50,000/- and Laxman's capital is Rs.80,000/-. If
interest on capital is to be provided @ 10% p.a., what will be
amount of capital of each of the partners as on 31st March, 2004,
assuming there were no additions during this period? Also, state
the treatment of this item in the Profit and loss account.
Ram's capital Rs.55,000/- , Laxman's capital Rs.88,000/- , Interest
on capital should be debited to the Profit and loss account
If the sales forecast is less than the past sales but the top
management insists upon a certain amount of additional profits,
then following steps can be taken to achieve the target profit
Increase the selling price , Reduce cost of sales , Increase the
selling efforts
Management Accounting is :-
Designed particularly for internal use , Helpful in estimating the
future along with past period , Useful in furnishing the necessary
information to the management
The operating profit as per cost statement may differ from the
profit as per Profit and Loss Account due to existence of
Depreciation on plant and machinery , Interest on loans taken from
other , Interest on loans granted to others
Identify the causes due to which the cost of labour may be high:
Excess staffing , Lack of experienced and efficient personnel , High
labour turnover
You are using petrol as one of the raw materials. Daily you
purchase 1,000 litres of petrol at Rs.28.50 per ltire. 5% of it
generally gets lost due to spillage and evaporation. On a particular
hot and dry day, the issue of petrol from 1,000 litres drum was as
follows : To job X 200 litres; job Y 400 litres and job Z 320 litres.
After these issues the drum was empty. Calculate per litre charge
for use of petrol, quantum of loss and total quantum of petrol used
for jobs X,Y and Z.
Loss due to spillage and evaporation - 30 litres. , Rate of charge per
litre of petrol - Rs.30/-
If the sales forecast is less than the past sales but the top
management insists upon a certain amount of additional profits,
then following steps can be taken to achieve the target profit
Increase the selling price , Reduce cost of sales , Increase the
selling efforts
For the given transaction find the wrong entry that has been passed
in the books of accounts, the correct entry that should have been
passed and the rectification entry required to rectify the mistake.
"On 1st September, 2004 the total of the previous month's wages
was debited to 'Manufacturing Wages Account". During the
previous month, a new machine was installed, and the firm's own
employees had spent time thereon; the previous month's wages for
all such employees amounted to
Machinery A/c. . . Dr. Rs.14,100/- To Manufacturing Wages A/c
Rs.14,100/- , Machinery A/c . . . Dr. Rs.14,100/- To Cash A/c
Rs.14,100/- , Rs.14,100/- To Cash A/c Rs.14,100/-
Total cost
Match The Following
Question
Labour hour method of absorption of
overheads
Percentage of direct labour cost methods of
16 absorption of overheads
Percentage of direct material cost methods
of absorption of overheads
Percentage of prime cost methods of
absorption of overheads
Match The Following
Question
Dividend paid
17
Freight inwards
Freight outwards
Sales
Match The Following
Question
Purchase budget
18
Budget committee
Cash budget
Budget
Match The Following
Question
Advantageously applicable in similar
19 industries
Avoids cut throat competition
Spirit of mutual trust
Treatment given to research and
development costs
Match The Following
Question
Deferred revenue expenditure
20
Deferred revenue expenditure written off
Drawings
Loan
Match The Following
Question
Dividend paid
21
Freight inwards
Freight outwards
Sales
Match The Following
Question
Non-Operating income
22
Operating income
Plan for surplus/shortage of cash
Plan of investment in fixed assets
Match The Following
23
Question
Compensating Error
23
Error of Principle
Error of Omission
Error of commission
Match The Following
Question
Accounting
24 Balance-sheet
Book-Keeping
Financial statement
Profitability statement
Match The Following
Question
Bad debts
25 Bills Payable
Bills Receivable
Cash Discount
Trade Discount
Match The Following
Question
Carrying cost
26 E.O.Q
Inventory control
Ordering cost
Total cost
Match The Following
Question
Assets
27 Drawing
Journal
Ledger
Liabilities
Match The Following
Question
In tangible assets
28 Nominal A/C
Personal A/C
Real A/C
Tangible assets
Match The Following
Question
Daily Time sheets
29 Hand Written method
Time Recording Clock Method
Token or Disc Method
Weekly Time sheets
Match The Following
Question
Advance
30 Application
Drawing
Outstanding
Prepaid
Match The Following
Question
Depreciation
31 Discount allowed
Discount received
Interest on capital
Outstanding expenses
Match The Following
Question
Factory Cost
32 Non-operating Expense
Non-operating Income
Selling & Distribution
Total Cost
Match The Following
Question
Danger level
33 Fixation of inventory level
Maximum level
Minimum level
Re-order level
Match The Following
Question
Diemer system
34 Differential Time rate
Payment by Result
Straight Piece rate system
Time rate System
Match The Following
Question
contribution – fixed cost
35 Fixed cost + variable cost
sales- variable cost
Total cost – fixed cost
Total cost + profit
Match The Following
Question
Compensating Error
36 Difference in trial balance
Error of commission
36
Error of Omission
Error of Principle
Match The Following
Question
Controllable Cost
37 Differential Cost
Opportunity Cost
Sunk Cost
Uncontrollable Cost
Management Accounting
ist of Attempted Questions and Answers
Correct Answer
Unavoidable cause of labour turnover
Replacement cost of labour turnover
Avoidable cause of labour turnover
Preventive cost of labour turnover
Correct Answer
Process of analyzing & interpretation
Reviewing internal control system
Book of original entry
Maintain all types of accounts
Correct Answer
Scope of uniform costing
Advantage of uniform costing
Requisite for uniform costing
Fields covered by uniform costing
Correct Answer
Objective is performance evaluation
Analyses the performance of different budget centres
Assists in predicting shortage of cash
Forecast of quantity and value of materials
Correct Answer
Facilitate the fixation of responsibility
Process of controlling costs of operations
Increase or Decrease in cost
Historical Cost
Correct Answer
Normality wise classification
Function wise classification
Variability wise classification
Element wise classification
Correct Answer
Decrease in contribution
Increase in profit volume ratio
Increase in profits
Increase in break even point
Correct Answer
Wrong classification
Wrong Posting
Transaction is totally omitted
Trial Balance does not get affected
Correct Answer
Real account
Nominal account
Proprietor's account
Personal account
Correct Answer
Profit
Total cost
Variable cost
Sales
Correct Answer
Accounted for in the books of Accounts
Debit what comes in, Credit what goes out
Debit the receiver, Credit the giver
Not accounted for in the books of Accounts
Correct Answer
Time spent by worker on job is recorded
Jobwise booking of time.
Recording of workers time
Ticket number & clock card allotted to worker
Correct Answer
Salary of CEO
Interest on loan
Carriage inwards
Cost of demand creation
Correct Answer
Land & Building
Work in Progress
Commission received
Closing stock of finished goods
Correct Answer
Repair for factory building
Profit on sale of investment
Advertisement expenses
Cost of finished goods
Correct Answer
Not affected by output related remuneration schemes
Correct Answer
Profit and loss appropriation account
Manufacturing account
Profit and loss account
Trading account
Correct Answer
Forecast of quantity and value of materials
Analyses the performance of different budget centres
Assists in predicting shortage of cash
Objective is performance evaluation
Correct Answer
Scope of uniform costing
Advantage of uniform costing
Requisite for uniform costing
Fields covered by uniform costing
Correct Answer
Real account
Nominal account
Proprietor's account
Personal account
Correct Answer
Profit and loss appropriation account
Manufacturing account
Profit and loss account
Trading account
Correct Answer
Issue of shares
Cash Sales
Cash Budget
Capital Expenditure Budget
Correct Answer
Wrong classification
Trial Balance does not get affected
Transaction is totally omitted
Wrong Posting
Correct Answer
Process of analyzing & interpretation
Financial status
Books of Accounts
Profitability statement & Balance-sheet
Indicates the amount of profit earned
Correct Answer
Amount not received from customer
Amount payable to supplier
Amount received from the customer
Accounted for in the books of Accounts
Not accounted for in the books of Accounts
Correct Answer
Cost of holding the inventory
Economic Ordering Quantity
Maintain the inventory of any kind
Associated with administrative efforts
Ordering cost + carrying cost
Correct Answer
All the properties owned by the business
Withdrawn for personal use
Book of original entry
Maintain all types of Accounts
All the amount owed by the business
Correct Answer
Patents, Trade marks
Debit all the expenses, Credit all the incomes
Debit the receiver, Credit the giver
Debit what comes in, Credit what goes out
Building, Machinery
Correct Answer
Time spent by worker on job is recorded
Attendance register
Ticket number & clock card allotted to worker
Token number & identification number allotted to worker
Record of time for all the jobs during the week is made
Correct Answer
Not related in current year
Increase in Assets
Amount of personal use
Amount still payable in current year
Amount paid for next year
Correct Answer
Assets
Debtors
Suppliers
Borrowed capital
Liabilities
Correct Answer
Repair for factory building
Dividend on shares
Profit on sale of shares
Advertisement
Cost of finished goods
Correct Answer
Below minimum level
Initiating proper action for movement of material
The level above which actual stock should not exceed
The level below which actual stock should not reduce
To take the step for procurement of further lots of material
Correct Answer
Halsey system & Gantt System
Different hourly rates are fixed for different levels of efficiency
Workers are paid according to the production achieved by him
The rate of payment is fixed per piece
Worker is paid on the basis of time attended by him
Correct Answer
profit
Total cost
contribution
variable cost
Sales
Correct Answer
Wrong classification
Transferred to suspense account
Wrong Posting
The transaction is totally omitted
Trial Balance does not get affected
Correct Answer
Increase or Decrease in cost
Historical Cost
Cost can be controlled
Cannot be controlled
Return or yield