LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Your Answer True

Match The Following

Question Correct Answer Your Answer

Differential Cost Increase or Decrease in Increase or Decrease in

cost cost
Sunk Cost Historical Cost Historical Cost

Cost Centre Facilitate the fixation of Facilitate the fixation of

responsibility responsibility
Cost Control Process of controlling Process of controlling costs
costs of operations of operations

Multiple Choice Multiple Answer

Question Features of Sunk cost are :-

Correct Answer Indicates historical cost , Not relevant in decision making

process , Incurred in past
Your Answer Indicates historical cost , Not relevant in decision making
process , Incurred in past

Multiple Choice Single Answer

Question If the sales budget shows a sharp increase in a particular month,
then (in order to meet the sales forecast) the production budget
must call for increased production in the :-
Correct Answer Previous month

Your Answer Same month

True/False
Question Profitability statement is a period statement & provides
information about the results of operations.
Correct Answer True

Your Answer True

Select The Blank

Question Uniform costing is not a separate method of ________.

Correct Answer Cost accounting

Your Answer Cost accounting

Multiple Choice Multiple Answer

Question When bank balance as per bank book is considered for
preparing bank reconciliation statement, then following items
need to be added :-
Correct Answer Cheques issued but not presented , Direct deposit made by
customer , Wrong credits given by bank
Your Answer Cheques issued but not presented , Direct deposit made by