True/False Question

A journal entry is passed for trade discount, but no entry is passed for cash discount.

Correct Answer False Your Answer False

Multiple Choice Multiple Answer Question The objectives of Uniform costing system are as follows : Correct Answer To fix a common selling price for the industry as a whole , To compare efficiency of each unit against industry's overall performance , To compile reliable cost data for inter-firm comparison of costs Your Answer To fix a common selling price for the industry as a whole , To compare efficiency of each unit against industry's overall performance , To compile reliable cost data for inter-firm comparison of costs Select The Blank Question The lowest profit volume ratio can be ________%. Correct Answer 0 Your Answer 0

True/False Question

Under time rate system a worker is paid on the basis of production achieved by him in a given time.

Correct Answer False Your Answer False

Multiple Choice Multiple Answer Question The balance as per bank book as on 30th November, 2004 was Rs.6,500/- and the bank pass book balance as on the same date was Rs.8,015/-. Select the transactions representing the reasons for this difference. Correct Answer Cheques deposited but not cleared Rs.1,200/- , Unpresented cheques Rs.2,625/- , Bank interest not entered in the bank book Rs.90/Your Answer Cheques deposited but not cleared Rs.1,200/- , Unpresented cheques Rs.2,625/- , Bank interest not entered in the bank book Rs.90/Select The Blank Question Accounts representing expenses will have ________balance. Correct Answer Debit Your Answer Debit

Multiple Choice Single Answer Question It is said that adoption of uniform costing creates customer confidence because . . . Correct Answer Prices are reliable