segregating costs into fixed and variable control and fixing responsibility making decisions ascertaining profit
Profit centre is
a department ascertaining profit a centre for inventory valuation a responsibility centre in which performance is measured none of these
3.
9.
a. b. c. d.
costing systems costing methods cost estimates cost unit and cost centre
a.
b. c. d.
4.
5.
a. b. c. d.
a. b. c. d.
direct material cost direct Labour cost direct expenses all the above
6.
The methods used for the calculation of cost per unit are known as
a. b. c. d.
increase in sales increase in profit increase in volume of production all of the above
a. b. c. d.
a. b. c. d.
a. b. c. d.
factory cost + administration overhead factory cost + prime cost prime cost + factory cost prime cost + factory overheads
21. Mention two objectives of cost accounting. 22. State any four items which are not included
a. b. c. d.
direct wages and factory overheads direct expenses and factory overheads direct materials and factory overheads direct wages and direct materials cost
in cost accounts.
a. b. c. d.
a foregone cost invested cost or recorded cost a postponable cost none of these
a. b. c. d.
a. b. c. d.