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D. shutdown cost.
ANSWER: D
13. Classification of cost is useful ________.
A. to find gross profit.
B. to find net profit.
C. to identify costs.
D. to identify efficiency.
ANSWER: C
14. Elements of costs are _________.
A. three types.
B. four types.
C. five types.
D. seven types.
ANSWER: A
15. Direct expenses are also called ________.
A. major expenses.
B. chargeable expenses.
C. overhead expenses.
D. sundry expenses.
ANSWER: B
16. Indirect material used in production is classified as __________.
A. office overhead.
B. selling overhead.
C. distribution overhead.
D. factory overhead.
ANSWER: D
17. Warehouse rent is a part of ________.
A. prime cost.
B. factory cost.
C. distribution cost.
D. production cost.
ANSWER: C
18. Indirect material scrap is adjusted along with ________.
A. prime cost.
B. factory cost.
C. labour cost.
D. cost of goods sold.
ANSWER: B
19. Which one of the following is not considered for preparation of cost sheet?
A. Factory cost.
B. Goodwill written off.
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C. Labour cost.
D. Selling cost.
ANSWER: B
20. Sale of defectives is reduced from ________.
A. prime cost.
B. works cost.
C. cost of production.
D. cost of sales.
ANSWER: C
21. Tender is an _______.
A. estimation of profit.
B. estimation of cost.
C. estimation of selling price.
D. estimation of units.
ANSWER: C
22. Cost of sales plus profit is _______.
A. selling price.
B. value of finished product.
C. value of goods produced.
D. value of stocks.
ANSWER: A
23. Prime cost includes _______.
A. direct materials, direct wages and indirect expenses.
B. indirect materials and indirect labour and indirect expenses.
C. direct materials, direct wages and direct expenses.
D. direct materials, indirect wages and indirect expenses
ANSWER: C
24. Total of all direct costs is termed as _________.
A. prime cost.
B. works cost.
C. cost of sales.
D. cost of production.
ANSWER: A
25. Depreciation of plant and machinery is a part of _________.
A. factory overhead.
B. selling overhead.
C. distribution overhead.
D. administration overhead
ANSWER: A
26. Audit fess is a part of _______.
A. works on cost
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B. selling overhead
C. distribution overhead.
D. administration overhead.
ANSWER: D
27. Counting house salary is part of _________.
A. factory overhead.
B. selling overhead.
C. distribution overhead.
D. administration overhead.
ANSWER: D
28. Factory overhead can be charged on the basis of _______.
A. material cost.
B. labour cost.
C. prime cost.
D. direct expenses.
ANSWER: A
29. Office and administrative expenses can be charged on the basis of _______.
A. material cost.
B. labour cost.
C. prime cost.
D. factory cost.
ANSWER: C
30. Selling and distribution expenses can be charged on the basis of _______.
A. material cost.
B. labour cost.
C. prime cost.
D. factory cost.
ANSWER: C
31. One of the most important tools in cost planning is _______.
A. direct cost.
B. budget.
C. cost sheet.
D. marginal costing
ANSWER: C
32. The purpose of financial accounting is to provide information for _____.
A. fixing prices
B. controlling cost.
C. locating factors leading to wastages and losses.
D. assessing the profitability and financial position of the firm.
ANSWER: D
33. An example of variable cost is _________.
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A. property tax.
B. interest on capital.
C. direct material cost.
D. depreciation of machinery.
ANSWER: C
34. Cost accounting concepts include all the following except ________.
A. planning.
B. controlling.
C. profit sharing
D. product costing.
ANSWER: C
35. Toy manufacturing industry should use ______.
A. unit costing.
B. process costing.
C. batch costing.
D. multiple costing.
ANSWER: C
36. Job costing used in _________.
A. paper mills
B. chemical works.
C. printing works
D. textile mill.
ANSWER: C
37. When premises are owned, a charge for rent is ________.
A. production cost.
B. imputed cost.
C. marginal cost.
D. cost of sales.
ANSWER: B
38. A document which provides for the detailed cost centre and cost unit is _____.
A. tender.
B. cost sheet.
C. invoice.
D. profitStatement.
ANSWER: B
39. Cost unit of a sugar industry can be ________.
A. per litre.
B. per tonne.
C. per acre.
D. per metre.
ANSWER: B
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40. The ascertainment of costs after they have been incurred is known as ____.
A. marginal costing.
B. historical costing.
C. sunk cost.
D. notional cost.
ANSWER: B
41. Direct material is a _______.
A. fixed cost.
B. variable cost.
C. semi variable cost.
D. semi fixed cost.
ANSWER: B
42. Direct material is a ________.
A. manufacturing cost.
B. administrative cost.
C. selling cost.
D. distribution cost.
ANSWER: A
43. The most important element of cost in manufacturing industries is _______.
A. material.
B. labour.
C. direct osts.
D. indirect costs.
ANSWER: A
44. Which of the following is considered to be the normal loss of material?
A. Loss due to accident.
B. Pilferage.
C. Loss due to breaking the bulk.
D. Loss due to careless handling of materials.
ANSWER: C
45. According to which method of pricing issues is close to current economic values?
A. Last In First Out.
B. First In First Out
C. Highest In First Out
D. weighted average price.
ANSWER: A
46. Continuous stock taking is a part of _________.
A. annual stock taking.
B. perpetual inventory.
C. ABC analysis.
D. VED analysis.
ANSWER: B
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47. Which of the following methods of stock control aims at concentrating efforts on selected items of
material?
A. Perpetual inventory system.
B. Material turnover ratio.
C. Level setting.
D. ABC analysis.
ANSWER: D
48. In which of the following methods issues of materials are priced at a predetermined rate?
A. Inflated price method.
B. Standard price method.
C. Replacement price method.
D. Specific price method.
ANSWER: B
49. In which of the following methods issues of materials are priced at the price prevailing at the time of
issue?
A. Inflated price method.
B. Standard price method.
C. Replacement price method.
D. Specific price method.
ANSWER: C
50. In base stock method of pricing the material issues, the term base stock represents the ____.
A. quantity of stock being issued.
B. stock in balance.
C. minimum stock.
D. maximum stock.
ANSWER: C
51. Material consumed is Rs. 5,00,000 Opening stock of raw material is Rs. 50,000 and Closing stock of
raw material is Rs. 25,000. What is the cost of raw material purchased?
A. Rs. 4,50,000.
B. Rs. 4,75,000.
C. Rs. 5,25,000.
D. Rs. 5, 50,000.
ANSWER: B
52. If selling price is Rs. 25,000 and profit is Rs. 5,000 then what is the percentage of profit on cast?
A. 20%.
B. 25%.
C. 33.33%.
D. 35%.
ANSWER: B
53. Material control involves _________.
A. consumption of material.
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B. issue of material.
C. purchase of material.
D. purchase, storage and issue of material.
ANSWER: D
54. Material requisition is meant for _________.
A. purchase of material.
B. supply of material from stores.
C. sale of material.
D. storage of material.
ANSWER: B
55. Stock control through stock levels and EOQ is called __________.
A. demand and supply method.
B. perpetual inventory system.
C. control by important and exception
D. . automatic order method.
ANSWER: B
56. ABC analysis is----------A. At Better Control
B. Always Better Control
C. Average better Control.
D. All best control.
ANSWER: B
57. JIT inventory system is _________.
A. Just In Time.
B. Just Inventory Time.
C. Job In Time.
D. Job Inventory Time.
ANSWER: A
58. Perpetual inventory system involves _____.
A. bincard and stores ledger.
B. bill of material and material requisition.
C. purchase requisition and purchase order.
D. inward and outward invoices.
ANSWER: A
59. FIFO is ________.
A. Fast Investment in Future Order.
B. First In First Out.
C. Fast In Fast Out.
D. Fast Issue Of Fast Order.
ANSWER: B
60. LIFO method of pricing of materials is more suitable when ______.
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ANSWER: C
81. Normal idle time _____.
A. . can be avoided.
B. can be minimized.
C. cannot be avoided.
D. can be controlled.
ANSWER: C
82. An employee is eligible for getting overtime wage if he/she works for more than ____.
A. 6 hrs a day.
B. 8 hrs a day.
C. 9 hrs a day.
D. 12 hrs a day.
ANSWER: B
83. Which of the following methods of wage payment is most suitable where quality and accuracy of work
is of primary importance?
A. Piece rate system.
B. Time rate system.
C. Differential piece rate system.
D. .Halsey premium plan.
ANSWER: B
84. Cost of idle time arising due to non availability of raw material is _______.
A. charged to costing profit and loss account.
B. charged to financial profit and loss account.
C. charged to factory overhead.
D. recovered by inflating the wage rate.
ANSWER: A
85. Labour productivity can NOT be measured by comparing ___________.
A. actual time with standard time.
B. total output with total man hours.
C. added value for the product with total wage cost.
D. total wage and total output.
ANSWER: D
86. Wage sheet is prepared by __________.
A. time keeping department.
B. personnel department.
C. payroll department.
D. cost accounting department.
ANSWER: C
87. Time and motion study is conducted by ________.
A. time keeping department.
B. personnel department.
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C. payroll department.
D. engineering department.
ANSWER: D
88. Under Gantts task and bonus plan no bonus is payable to a worker if his efficiency is less than
_________.
A. 50%.
B. 60%.
C. 83.5%.
D. 100%.
ANSWER: D
89. When standard output is 10 units per hour and actual output is 12 units per hour, the efficiency is
________.
A. 75%.
B. 80%.
C. 90%.
D. 120%.
ANSWER: D
90. Given that for a job standard time is 8 hrs, actual time taken is 6 hrs and the time rate is Rs. 2 per hr.
What is the total wages under Halsey premium plan?
A. Rs. 12.
B. Rs. 14.
C. Rs. 16.
D. Rs. 18.
ANSWER: B
91. Comparing Rowan plan and Halsey plan, it is seen that when the time saved is less than 50% of the
standard time _________.
A. Rowan plan allows more wages to a worker than Halsey plan.
B. Rowan plan allows less wages to a worker than Halsey plan.
C. Rowan and Halsey plan allow equal wages to a worker.
D. Rowan plan and Halsey plan are equal to ordinary time wage.
ANSWER: A
92. Bonus under Halsey plan is paid __________.
A. at 50% of time saved.
B. at 75% of time saved.
C. at 80% of time saved.
D. at 90% of time saved.
ANSWER: A
93. Halsey premium plan is __________.
A. individual incentive scheme.
B. group incentive scheme.
C. time and piece wage system.
D. differential piece wage system.
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ANSWER: A
94. Bonus under Rowan scheme is paid __________.
A. as a proportion of standard time to actual time.
B. as a proportion of actual time to standard time.
C. as a proportion of time saved to standard time.
D. as a proportion of time saved to standard time.
ANSWER: B
95. Labour cost is the second element of _________.
A. cost.
B. profit
C. sales
D. task
ANSWER: A
96. Number of methods available for calculation of Labour turnover is _________.
A. two
B. three
C. four
D. five
ANSWER: B
97. Over time premium is paid __________.
A. at normal rate.
B. below the normal rate.
C. at 50% of the normal rate.
D. at double normal rate.
ANSWER: B
98. Merricks multiple piece rate system has _______.
A. two rates.
B. three rates.
C. four rates
D. five rates
ANSWER: B
99. How many rate are used to calculate wages under Taylorss differential piece rate system?
A. two
B. three
C. four
D. five
ANSWER: B
100. Overhead is also known as ________.
A. on cost.
B. basic cost.
C. extra cost.
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D. chargeable expenses.
ANSWER: A
101. Reorder level = _________.
A. maximum level Xminimum level.
B. maximum consumption X maximum reorder period.
C. minimum consumption x minimum reorder period.
D. normal consumption X normal reorder period.
ANSWER: B
102. Overhead can be classified according to function-wise as _____.
A. fixed o/h, variable o/h and semi-variable o/h.
B. controllable o/h and uncontrollable o/h.
C. manufacturing o/h, administration o/h and selling & distribution o/h.
D. past cost and future cost.
ANSWER: C
103. Allotment of overhead incurred for a particular cost centre to that specific cost centre is _________.
A. allocation.
B. allotment.
C. primary distribution.
D. secondary distribution.
ANSWER: A
104. Establishment of costing system in India is essential ________.
A. in the case of all industrial concerns.
B. for all companies having a paid up capital of Rs. 25 lakhs.
C. in the case of such companies as may be required to maintain costing records by the central Govt.
under section 209 of the companies act.
D. in case the concerned firm is covered by the MRTP act.
ANSWER: C
105. Cost accounting _________.
A. like financial accounting is exact and precise.
B. necessarily works on the basis of estimates and therefore has to be satisfied with reasonable accuracy.
C. deals only with future costs and ignores historical cost.
D. analyses historical cost.
ANSWER: B
106. A former producing only wheat for which price is fixed by government should have a costing system
in order to ________.
A. ascertain the profit earned by him.
B. establish the cost per quintal of wheat produced by him.
C. control the various cost incurred.
D. ascertain the marginal cost.
ANSWER: A
107. The process of setting standards and comparing actual performance with standards with a view to
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120. If Minimum stock level is 900 units and economic order quantity is 750 units, then average stock level
= ______________.
A. 825 units.
B. 1275 units.
C. 1525 units.
D. 1650 units.
ANSWER: B
121. Under which method the rate of wages are linked with the cost of living index?
A. Flat time rate.
B. High day rate.
C. Measured day rate.
D. Graduated time rate.
ANSWER: D
122. Under Halsey-Weir scheme, workers are paid ________.
A. 25% of time saved.
B. 30% of time saved.
C. 35% of time saved.
D. 50% of time saved.
ANSWER: B
123. Under which plan efficiency is shared by employee and employer equally?
A. Time rate.
B. Gantts task and bonus plan.
C. Halsey plan.
D. Rowan plan.
ANSWER: C
124. Which of the following method of wage payment is most suitable where the speed of production is
beyond the control of worker?
A. Time rate system.
B. Piece rate system.
C. Halsey premium system.
D. Rowan premium plan.
ANSWER: A
125. Standard time for 10 units of production is 12 minutes. A worker produced 200 units in 3 hours. Time
saved = ____________.
A. 1/2 hour.
B. 1 hours.
C. 1 1/2 hours.
D. 21/2 hours.
ANSWER: B
126. Under which method of wage payment, wages are influenced by idle time?
A. Straight piece rate.
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D. distribution overhead.
ANSWER: C
140. Number of worker employed is used as basis for the apportionment of _____.
A. rent.
B. canteen expenses.
C. PF contribution.
D. rate and tax.
ANSWER: B
141. Fixed cost per unit increases when ____.
A. variable cost per unit increases.
B. variable cost per unit decreases.
C. production volume increases.
D. production volume decreases.
ANSWER: D
142. Variable cost per unit __________.
A. varies when output varies.
B. remains constant.
C. increase when output increases.
D. decreases when output decreases.
ANSWER: B
143. Increase in total variable cost is due to ___________.
A. increase in fixed cost.
B. increase in sales.
C. increase in production.
D. increase in efficiency.
ANSWER: C
144. An example of fixed cost _________.
A. property tax.
B. rent for building.
C. direct material cost.
D. direct wages.
ANSWER: B
145. The process of allocating and apportioning the costs on suitable basis to all the departments is
_______.
A. departmentalization.
B. primary distribution.
C. secondary distribution.
D. classification.
ANSWER: B
146. The process of grouping of costs according to some common characteristics ____.
A. absorption.
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B. primary distribution.
C. secondary distribution.
D. classification.
ANSWER: D
147. The process of redistribution of service department costs to production departments is __________.
A. departmentalization.
B. primary distribution.
C. secondary distribution.
D. classification.
ANSWER: C
148. Which of the following is an example of semi-variable cost?
A. Salary.
B. Tax.
C. Telephone expenses.
D. . Office expenses.
ANSWER: C
149. Depreciation of plant can be apportioned on the basis of __________.
A. plant value.
B. plant size.
C. working days.
D. output produced.
ANSWER: A
150. Indirect materials can be apportioned on the basis of __________.
A. direct material.
B. prime cost.
C. direct labour hour.
D. machine hour.
ANSWER: A
151. Fire insurance of stock can be apportioned on the basis of _________.
A. value of stock.
B. volume of stock.
C. number of stores requisition.
D. material used.
ANSWER: A
152. When there is no inter departmental services between two service departments then which of the
following method of distribution can be used?
A. Direct redistribution method.
B. Step method.
C. Trial and error method.
D. Repeated distribution method.
ANSWER: A
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C. cost of sales.
D. cost of production.
ANSWER: A
167. Cost of the machine is Rs. 95,000 and installation charges is Rs.15,000. Scrap value at the end of the
working life of 10 years is Rs. 10,000. Machine works for 2000 hours in a year. What is the per hour rate of
depreciation?
A. Rs. 4 per hour.
B. Rs. 5 per hour.
C. Rs. 6 per hour.
D. Rs. 8 per hour.
ANSWER: B
168. In a machine dominated industry which method of overhead absorption is suitable?
A. Direct material cost method.
B. Prime cost method.
C. Labour hour method.
D. Machine hour method.
ANSWER: D
169. In labour oriented manufacturing industry which method of overhead absorption is suitable?
A. Direct material cost method.
B. Prime cost method.
C. Labour hour method.
D. Machine hour method.
ANSWER: C
170. Most appropriate basis for the apportionment of power is ___________.
A. no. of labour.
B. no. of output.
C. no. of machines.
D. horse power of machines.
ANSWER: D
171. The type of loss that should not affect cost of inventories is __________.
A. normal loss.
B. abnormal loss.
C. seasonal loss.
D. standard loss.
ANSWER: A
172. The costing method which can be used in industry where the product pass through different processes
is known as _________.
A. job costing.
B. operating costing.
C. batch costing.
D. process costing.
ANSWER: D
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ANSWER: B
180. Actual loss is more than the predetermined normal loss, it is _________.
A. normal loss.
B. abnormal loss.
C. seasonal loss.
D. standard loss.
ANSWER: B
181. Actual loss is less than the predetermined normal loss, it is ___________.
A. normal loss.
B. abnormal loss.
C. seasonal loss.
D. abnormal gain.
ANSWER: D
182. When output of earlier process is transferred at a profit to the subsequent process, it is ___________.
A. inter departmental profit.
B. abnormal gain.
C. inter process profit.
D. manufacturing profit.
ANSWER: C
183. 100 units are introduced in a process in which normal loss is 5% of input. If actual output is 97, then
there is ________.
A. no abnormal loss and normal gain.
B. 2 units of abnormal gain.
C. 3 units of abnormal gain.
D. 3 units of normal loss.
ANSWER: B
184. 50 units are processed at a cost of Rs. 80, normal loss is 10%, each unit carries a scrap value of 25
paise. If output is 40 units, the value of abnormal loss will be _______.
A. Rs. 1.25.
B. Rs. 8.00.
C. Rs. 8.75.
D. Rs. 8.88.
ANSWER: C
185. A cost sheet should have ________.
A. only one column.
B. two column.
C. three column.
D. as many column as may be required.
ANSWER: D
186. Classification and accumulation of costs by fixed and variable costs is of special importance in
________.
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A. process costing.
B. unit costing.
C. operation costing.
D. operating costing.
ANSWER: D
187. Abnormal process loss can be transferred to ___________.
A. costing profit and loss a/c.
B. financial profit and loss a/c.
C. manufacturing.
D. trading.
ANSWER: A
188. Two economically equal importance product are simultaneously produced in the same manufacturing
process, these product are __________.
A. joint products.
B. by products.
C. two process products.
D. economic products.
ANSWER: A
189. When two products are simultaneously produced in a process and one of them has comparatively high
value and other is of low value , the low value product is called ___.
A. joint products.
B. by products.
C. seasonal products..
D. economic products.
ANSWER: B
190. If any by-product is produced and sold it is credited to __________.
A. profit and loss a/c.
B. by-product a/c
C. process a/c.
D. abnormal gain a/c.
ANSWER: C
191. Process cost is ascertained and recorded in _________.
A. balance sheet.
B. profit and loss a/c.
C. separate statement.
D. separate ledger a/c.
ANSWER: D
192. Balance of abnormal gain a/c is transferred to _________.
A. balance sheet.
B. debit side of profit and loss a/c.
C. credit side of profit and loss a/c.
D. costing profit and loss a/c.
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ANSWER: D
193. Inter process profits are __________.
A. credited to each process a/c.
B. debited to respective process a/c.
C. shown only in the finished stock a/c.
D. shown in the balance sheet.
ANSWER: B
194. Input is 10,000 units and normal loss is 20% of input and abnormal loss is 400 units. What is actual
output?
A. 7600 units.
B. 10,000 units.
C. 10, 400 units.
D. 12000 units.
ANSWER: A
195. Output is 6400 units and normal loss is 20%. What is actual input?
A. 7400 units.
B. 8000 units.
C. 8400 units.
D. 9600 units.
ANSWER: B
196. Cost of process Rs.1,60,000 and profit to be charged on the transfer price is 20%. What is the inter
process profit?
A. Rs. 32,000.
B. Rs. 40,000.
C. Rs. 48,000.
D. Rs. 54,000.
ANSWER: B
197. Job costing method is the most suitable method for ___________.
A. oil process units.
B. transport companies.
C. sugar industries.
D. repair shops.
ANSWER: D
198. Job cost is estimated on the basis of ___________.
A.
B. production.
C.
D. government regulations.
ANSWER: A
199. Batch costing is useful to determine _________.
A. maximum quantity of output.
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226. Under which system of accounting, reconciliation of financial and costing profit is not needed?
A. Non integral accounting.
B. Integral accounting.
C. Double accounting.
D. Double entry accounting.
ANSWER: B
227. Which of the following item of expenses will not appear in cost accounting?
A. Direct material cost.
B. Factory overheads.
C. Selling Expenses.
D. Loss on sale of fixed assets.
ANSWER: D
228. Which of the following item of expenses will not appear in financial accounting?
A. Notional rent.
B. Stamp duties.
C. Loss on sale of fixed assets.
D. Cash discount.
ANSWER: A
229. The term cost refers to _____________.
A. the present value of future benefits.
B. the value of sacrifice made to acquire goods or services.
C. an asset that has given benefit but now expired.
D. the price of products sold or services rendered.
ANSWER: B
230. Cost accounting differs from financial accounting in respect of __________.
A. reporting of cost.
B. ascertainment of cost.
C. control of cost.
D. recording of cost.
ANSWER: B
231. Which method of costing is best suited for interior decoration?
A. Contract accounting.
B. Operating costing.
C. Process costing.
D. Job costing.
ANSWER: D
232. An important feature of a cost centre is _________.
A. it must be one specific location only.
B. it has clearly defined boundaries.
C. it uses only monetory information.
D. it must be an area of the business through which product pass.
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ANSWER: A
233. When cash is received from contractee which a/c should be credited?
A. Cash a/c.
B. Contract a/c.
C. Contractor a/c.
D. Contractee a/c.
ANSWER: D
234. Direct labour means _________.
A. labour which can be conveniently associated with aparticular cost unit.
B. labour which completes the work manually.
C. permanent labour in the production department.
D. labour which is recruited directly and not through contractors.
ANSWER: A
235. Which of the following methods of remuneration is most likely to give stability of labour cost to the
employer?
A. Group bonus scheme.
B. Measured day rate.
C. Premium bonus scheme.
D. Straight piece work.
ANSWER: D
236. The type of process loss that should not affect the cost of inventory value is _____.
A. abnormal loss.
B. normal loss.
C. seasonal loss.
D. standard loss.
ANSWER: A
237. The stage where joint products are separated from each other is known as ______.
A. breakeven point.
B. angle of incident.
C. split off point.
D. point of occurrence.
ANSWER: C
238. Fifty units are put in a process at a total cost of Rs.90. Wastage is normally 10% without any scrap
value. If output is 40 units the amount of abnormal loss would be ____.
A. Rs. 8.
B. Rs. 9.
C. Rs. 10.
D. Rs. 12.
ANSWER: C
239. If the actual loss is more than the estimated normal loss, then it is _______.
A. abnormal loss.
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B. normal loss.
C. seasonal loss.
D. abnormal gain.
ANSWER: A
240. If the actual loss is less than the estimated normal loss, then it is _______.
A. abnormal loss.
B. normal loss.
C. seasonal loss.
D. abnormal gain.
ANSWER: D
241. Dividend paid is the nature of __________.
A. appropriation of profit.
B. financial charges.
C. financial income.
D. trading expenses.
ANSWER: A
242. Which one of the following is NOT a method of costing?
A. Marginal costing.
B. Process costing.
C. Contract costing.
D. Job costing.
ANSWER: A
243. Direct material Rs. 25,000 and wages Rs. 15,000 and direct expenses Rs. 5,000. What would be the
factory cost if factory overhead rate is 20%?
A. Rs. 45,000.
B. Rs. 50,000.
C. Rs. 54,000.
D. Rs. 60,000.
ANSWER: B
244. Over absorption of overheads in cost accounting results in ________.
A. decrease in costing profit.
B. decrease in financial accounts profit.
C. increase in costing profit.
D. increase in financial accounts profit.
ANSWER: A
245. Overvaluation of opening stock in financial accounting results ________.
A. decreases costing profit.
B. decreases financial accounts profit.
C. increases costing profit.
D. increases financial accounts profit.
ANSWER: B
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Staff Name
Senthil S .
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