Multiple Choice Multiple Answer Question Uncontrollable variances are Correct Answer Strike , Change in customers demand , Devaluation

of currency Your Answer Change in customers demand , Wrong management olicy , Devaluation of currency

True/False Question

!ndirect labour cost indicates that labour cost which cannot be identified with the individual cost centre" Correct Answer #rue Your Answer #rue

True/False Question

#here is no need to o en a sus ense account if the trial balance does not agree" Correct Answer $alse Your Answer $alse

Select The Blank Question !nterest on overdraft charged by the bank is %%%%%%%% to the ass book and %%%%%%%% to the cash book Correct Answer debited Your Answer credited

Correct Answer credited Your Answer debited

Select The Blank Question &ank reconciliation statement is the statement re ared to e' lain the %%%%%%%% as to why the bank balance as er %%%%%%%% and bank balance as er bank book does not match Correct Answer reasons Your Answer Correct Answer Your Answer reasons ass book ass book

Multiple Choice Single Answer Question (ld furniture sold for )s" *+,, has been entered as )s +*,, in the cash book, for rectifying the same Sus ense A-C credited to )s Correct Answer .,,

Your Answer

.,,

Multiple Choice Multiple Answer Question /aterial 0rice 1ariance may occur due to Correct Answer Change in rice of material , $ailure to take discounts , Weak urchase organi2ation Your Answer Careless use of material , Change in rice of material Select The Blank Question !n financial statements 03 4 Accounts relates to a s ecific duration whereas %%%%%%%% is for a given oint of time Correct Answer 03 4 Accounts Your Answer &alance sheet

Correct Answer &alance sheet Your Answer Multiple Choice Single Answer Question 5oods return by 0ande worth )s" 6,,, should have a eared on the credit side of 0ande7s account for rectifying the same" $ollowing account to be credited Correct Answer Sus ense A-C Your Answer True/False Question Sus ense A-C

Accounting is an art of recording, classifying 3 summari2ing in a significant manner" Correct Answer #rue Your Answer #rue

Select The Blank Question &in Card is not an %%%%%%%% record but only a %%%%%%%% record" Correct Answer Accounting Your Answer Qualitative

Correct Answer Quantitative Your Answer Quantitative

Multiple Choice Single Answer

Question

Salary given in trial balance )s" *,,,-8, still 6,,,-8 is to be aid " #he outstanding salary is debited to 0rofit 34oss A-C" #he second effect is 88 Correct Answer #ransfer to balance sheet liability side Your Answer #ransfer to balance sheet liability side

Select The Blank Question While selecting source of su ly %%%%%%%% e artment may call for the %%%%%%%% from the ros ective su liers Correct Answer urchase Your Answer urchase

Correct Answer 9uotation Your Answer True/False Question 9uotation

0rofitability statement indicates the amount of assets 3 liabilities"

Correct Answer $alse Your Answer #rue

Multiple Choice Single Answer Question Calculate Sales 0rice 1ariance, !f actual rice is )s"*"+,-8 er unit, Standard rice is )s"*-8 er unit and actual sales volume is *,, units" Correct Answer )s"6,,-8 : $avorable ; Your Answer True/False Question )s"6*,-8 : $avorable ;

Debit the receiver 3 credit the giver is a rule of )eal a-c"

Correct Answer $alse Your Answer #rue

Multiple Choice Single Answer Question !f at *,< ca acity, total factory overheads are )s"=,,,,,-8 :out of which >,< are fi'ed and +, < are variable; then what will the amount of total factory overheads at >,< ca acity Correct Answer )s"=,,?,,-8 Your Answer True/False )s"=6,,,,-8

Question

=; $inancial statements are basically in two forms i"e" rofitability statement and balance sheet" Correct Answer #rue Your Answer #rue

Select The Blank Question Administration overheads are %%%%%%%% in nature and can be controlled mainly at %%%%%%%% level of the management Correct Answer fi'ed Your Answer variable

Correct Answer to Your Answer to

Match The Following Question Advance A lication

Correct Answer @ot related in current year !ncrease in Assets Amount still ayable in current year Amount aid for ne't year Amount of ersonal use

Your Answer @ot related in current year !ncrease in Assets Amount still ayable in current year Amount aid for ne't year Amount of ersonal use

(utstanding 0re aid Drawing

Multiple Choice Multiple Answer Question #hese are the features of fi'ed overheads Correct Answer total cost remains the same , er unit cost may vary , not de endent on volume of out ut Your Answer total cost remains the same , er unit cost may vary , not de endent on volume of out ut , er unit cost remains the same" Multiple Choice Single Answer Question %%%%%%%%%% Accounting is rimarily rotects the interest of the outsiders dealing with the organi2ation various ca acities like investors, su liers, customers etc" Correct Answer $inancial Your Answer True/False Question Cost

Aead of the De artment should sign the urchase re9uisition"

Correct Answer #rue Your Answer #rue

Multiple Choice Multiple Answer Question $!$( method Correct Answer #he rice of the earliest available lot is considered first , !f the lot is e'hausted, the rice of the ne't available lot is considered , !t is used for issue of material Your Answer #he rice of the earliest available lot is considered first , !f the lot is e'hausted, the rice of the ne't available lot is considered , 0hysical lots of the material are ke t se arate , !t is used for issue of material True/False Question

$inancial Accounting discloses the financial erformance 3 financial statements of the business as a whole" Correct Answer #rue Your Answer #rue

Select The Blank Question &in card is maintained by %%%%%%%% de artment whereas %%%%%%%% is maintained by costing de artment" Correct Answer Stores Your Answer Stores

Correct Answer Store ledger Your Answer True/False Question Store ledger

#he situation of over absor tion arises if the overheads absorbed are less than the actual overheads" Correct Answer $alse Your Answer #rue

Multiple Choice Multiple Answer Question Accounts is a Correct Answer )ecord of all transaction Your Answer )ecord of all transaction , )ecord of urchasing goods 3 services , )ecord of selling goods 3 services

Multiple Choice Single Answer Question !f roduction overheads to be absorbed are )s" 6,,,,-8 and machine

hours worked are *,,, then the machine hour rate will be, Correct Answer )e" + er machine hour" Your Answer True/False Question )s" * er machine hour"

Due to errors of rinci le the arithmetical accuracy of the trial balance get affected" Correct Answer $alse Your Answer #rue

Multiple Choice Multiple Answer Question 0-4 A-C debit side includes Correct Answer salary , discount allowed , ostage 3 telegram Your Answer discount allowed , interest received

Multiple Choice Multiple Answer Question #hese are the methods of measuring labour turnover" Correct Answer )e lacement /ethod , Se aration /ethod , $lu' /ethod Your Answer )e lacement /ethod , Bob card /ethod , $lu' /ethod

Multiple Choice Multiple Answer Question #rading a-c credit side includes Correct Answer sales , goods lost by fire , closing stock Your Answer sales , closing stock

Multiple Choice Multiple Answer Question $rom the following data, workout the C(Q annual demand" *,,, units, ordering cost )s" >, er unit, rice er unit )s" =,,, inventory carrying cost=*< on average inventory Correct Answer D,, Your Answer 6,,

Select The Blank Question $inancial Accounting rotects the interest of outsiders " it considers %%%%%%%% transaction and it is a %%%%%%%% re9uirement Correct Answer historical

Your Answer

Current

Correct Answer legal Your Answer legal

Multiple Choice Single Answer Question Under the Cmerson7s Cfficiency &onus System at following efficiency level no bonus is ayable" Correct Answer &elow >>">>< Your Answer &elow >>">><

Select The Blank Question 0lanning lays down the course of action to be taken in future" !n case budgetary control, it is in the form of the %%%%%%%% and in case of %%%%%%%% costing, it is in the form of the standard cost Correct Answer budgets Your Answer contracts

Correct Answer standard Your Answer budgets

Match The Following Question Discount received (utstanding e' enses De reciation !nterest on ca ital Discount allowed True/False Question

Correct Answer Su liers

Your Answer Su liers

4iabilities Assets &orrowed ca ital Debtors

4iabilities Assets &orrowed ca ital Debtors

canteen facility to workers, health and safety services are e'am les of monetary incentives" Correct Answer $alse Your Answer #rue

Multiple Choice Single Answer Question #his is the best e'am le of element wise classification of cost" Correct Answer material

Your Answer

selling overheads

Multiple Choice Single Answer Question #his is the rocess of recording attendance time of the workers" Correct Answer #ime kee ing Your Answer #ime rate System

Multiple Choice Multiple Answer Question Wage rate standards takes into consideration the following factors Correct Answer #he system of wage ayments , System for bonus ayment , 5rades of workers re9uired Your Answer #he system of wage ayments , System for bonus ayment , 5rades of workers re9uired Select The Blank Question Standard Costing system facilitates %%%%%%%% and %%%%%%%% for each individual or de artment Correct Answer Delegation of authority Your Answer $i'ation of res onsibility

Correct Answer $i'ation of res onsibility Your Answer True/False Question Delegation of authority

!f actual cost is more than the standard cost then it is called favorable variance" Correct Answer $alse Your Answer #rue

True/False Question

Accounting refers to the rocess of analy2ing 3 inter reting the information already recorded in the books of accounts" Correct Answer #rue Your Answer #rue

True/False Question

#he aggregate of indirect material cost, indirect labour cost and indirect e' enses is termed as factory cost" Correct Answer $alse Your Answer #rue

Select The Blank Question $i'ed cost is the cost that tend to remain %%%%%%%% irres ective of %%%%%%%% Correct Answer constant