FINC001 - Management Accounting - Both Assignment

6/27/2021 Assignment - 1: Attempt review
Started on Friday, 25 June 2021, 2:12 PM

State Finished
Completed on Friday, 25 June 2021, 2:47 PM
Time taken 35 mins 23 secs
Grade 14.50 out of 15.00 (97%)
Question 1
Complete
Mark 0.50 out of 0.50
If net pro t margin is 10.50%, asset turnover is 0.80 and debt to asset ratio is 0.70 then what is the return on net worth ?
Select one:
a. 28%
b. 15%

c. 22%
d. 32%
https://slm.imtcdl.ac.in/moodle/mod/quiz/review.php?attempt=31377&cmid=1581 1/16
Question 2
Complete
Which of the following is TRUE about the revenue recognition principle?
Select one:
a. Revenue Must Be Recorded When It Is Earned
b. Revenue Is Recorded When A Contract Is Signed
c. A Rule That Accountants Can Choose To Follow
d. Revenue Is Recorded When Cash Is Received
Question 3

Complete
P&L account can also be named as
Select one:
a. Statement Of Expenses
b. Statement Of Income
c. Statement Of Position
d. None Of The Above
Question 4
Complete
The capital structure of AB Ltd. is as follows: 9% preference shares of Rs. 10 each Rs. 3,00,000 Equity shares of Rs. 10 each Rs. 8,00,000. The
following further information is available: Pro t after tax Rs. 2,70,000 Equity dividend paid 0% Market price of equity shares Rs.40 each.
From the above information, the EPS and PE ratio are ________and __________.
Select one:
a. 0
b. Rs. 3.12, 10.80
c. Rs. 3.04, 13.16
d. Rs. 3.33, 10.34

Question 5
Complete
FTL Ltd. reported pro t of 10 lakhs for 2019 and cash balance decreased by 2,40,000. Which nancial statement should investors of FTL Ltd.
refer to for an understanding of situation?
Select one:
a. Cash Flow Statement
b. Pro t And Loss Account
c. Director’S Responsibility Statement
d. Balance Sheet
Question 6
Complete
The terms ‘………...….’ is used in the context of PP&E and the term '………...….' is used in the context of intangible assets.
Select one:
a. Depreciation, Depletion
b. Amortisation, Depletion
c. Amortisation, Depreciation
d. Depreciation, Amortisation
Question 7

Complete
The factors that may a ect the quality of nancial statements are:
Select one:
a. All Of The Above.
b. Measurement And Timing Problems.
c. Classi cation Problems.
d. In uenced Accounting.
Question 8
Complete
All the assets that an entity controls are recognised in the ………...….
Select one:
a. Accounting Book
b. Financial Statement
c. Pro t & Loss Statement
d. Balance Sheet
Question 9

Complete
Compute the working capital turnover ratio if, Current assets is Rs 1,60,000, current liabilities is Rs 80,000 and Cost of goods sold is Rs
3,50,000.
Select one:
a. 4.38
b. 4.5
c. 2.89
d. 2.56
Question 10
Complete
Out of the fund ow statement and cash ow statement which one is a broader concept: -
Select one:
b. None Of The Above
c. Fund Flow Statement
d. Cash Budget
Question 11

Complete
5 steps that need to be followed in revenue recognition: 1. Identify the contracts 2. Identify the performance obligations 3. Determine the
transaction price 4. Allocate the transaction price 5. _______________
Select one:
a. Complete The Contract
b. Pay The Transaction Price
c. Recognise Revenue When (Or As) The Entity Satis es A Performance Objective.
d. Perform The Activity
Question 12
Complete
Under which head of the Balance Sheet do we show tangible assets?
Select one:
a. Non Current Assets
b. Current Liabilities And Provision
c. Share Capital
d. Investments
Question 13

Complete
The process of recognizing the strengths and weaknesses of the rm by establishing the relationship among various items of Balance Sheet
and Income Statement is termed as
Select one:
a. Merger & Acquisition
b. Financial Statement Analysis
c. Cost Accounting
Question 14
Complete
State which of the following statement is true:
Select one:
a. Internal Auditor Must Be A Practicing Chartered Accountant Or Cost Accountant
b. Internal Auditor Should Not Be A Practicing Chartered Accountant Or Cost Accountant
c. Internal Auditor May Be Or May Not Be A Practicing Company Secretary Or Cost Accountant
d. Internal Auditor May Be Or May Not Be A Practicing Chartered Accountant Or Cost Accountant
Question 15

Complete
Which of the following will not result in an increase in net working capital?
Select one:
a. Decrease In Bank Borrowings.
b. Decrease In Inventory
c. Increase In Cash.
d. Decrease In Creditors.
Question 16
Complete
Net Income is
Select one:
a. Total Revenue - Total Expense
b. Revenue - Total Expense - Deferred Tax
c. Total Revenue - Cost Of Goods Sold
Question 17

Complete
What are the other motives behind in uenced accounting?
Select one:
a. Both A And C.
b. Cleaning At The Time Of New Ceo Joining.
c. Management Perks And Bene ts.
d. To Forgo Tax Bene ts.
Question 18
Complete
The Accounting Standards Board was set up by
Select one:
a. Reserve Bank Of India
b. Institute Of Chartered Accountants Of India
c. Central Board Of Direct Taxes
d. Comptroller And Auditor General Of India
Question 19

Complete
The TV manufacturing Factory sells 5,000 TV on credit. They have shipped the TV but have not collected payment. Can the TV Factory
recognize the revenue?
Select one:
a. No, The Revenue Must Be In Cash
b. No, The Revenue Was Not Received
c. Yes, The Revenue Is Realized
d. Yes, The Revenue Is Realizable
Question 20
Complete
The Companies Act, 2013 requires all the------- companies to appoint an internal auditor
Select one:
a. Unlisted Companies
b. Listed Companies
c. Private Companies
d. All Of These
Question 21

Complete
Primary objective of cash ow statement is to provide information about:
Select one:
a. Future Plans Of Company
b. Pro t Earned During The Year
c. All Of These
d. Cash Flow Position Of The Company
Question 22
Complete
What is revenue?
Select one:
a. The Amount Spent By A Business To Sell Its Goods And Services
b. . The Cash Received From Selling Goods And Services
c. The Amount Of Money A Business Earns From Selling Its Goods And Services
d. The Amount Of Money Owed To A Business By Its Customers
Question 23

Complete
If a rm have a current ratio of 1, then its net working capital will be
Select one:
a. Same
b. Zero
c. Positive
d. Negative
Question 24
Complete
The statement of only parent rm without including the subsidiary statements are known as_____
Select one:
a. Standalone Financial Statement
b. Non Consolidated Financial Statements
c. Consolidate Financial Statement
d. Individual Financial Statement
Question 25

Complete
Which of the following statements are true? A) Financial statements are only interim report.B) Financial statements are also known as
annual recordsC) Financial statements are historic
Select one:
a. Option A
b. Option B
c. Option A & B
d. Option B & C
Question 26
Complete
Which of the following is a nancing activity?
Select one:
a. Cash Received From Selling A Piece Of Equipment
b. Cash Used To Make A Payment Of Long Term Loan
c. Cash Paid To Charities
d. Cash Recoveries From A Loan
Question 27

Complete
The following information is extracted from the nancial statement of KTS Ltd.: Cost of goods sold Rs. 25,00,000 Sales Rs. 50,00,000 Average
accounts receivable Rs. 4,00,000 Average inventory Rs. 15,00,000 Average assets Rs. 50,00,000 Net pro t Rs. 10,00,000. The accounts
receivable turnover, inventory turnover and total assets turnover for a rm are___________.
Select one:
a. 11.1 Times, 1.2 Times, 0.63 Times
b. 12.0 Times, 1.3 Times, 0.73 Times
c. 12.5 Times, 1.67 Times, 1 Times
d. 12.5 Times, 2.2 Times, 0.12 Times
Question 28
Complete
The prime accountability of the nancial statements being a fair and true representation of the nancial health of the rm lies with the:
Select one:
a. Chief Accountant
b. Supervisor
c. Board Of Directors
d. Human Resource Manager
Question 29

Complete
The term current asset doesn’t cover
Select one:
a. Cash
b. Vehicle
c. Stock
d. Prepaid Expense
Question 30
Complete
Misclassi cation of revenue expense as a capital expense leads to:
Select one:
a. An Increase In Expenses And A Decrease In Pro ts.
b. Leads Finance Managers To Treat Recurring Expenses As A One-Time Expense.
c. Decrease In Expenses And An Increase In Pro ts.
d. Leads To Increase In Inventory Turnover Ratio.

 
FINC001_v2: Assignment - 1 https://slm.imtcdl.ac.in/moodle/mod/quiz/view.php?id=1581
1 of 1 7/22/2021, 12:18 AM
Started on Friday, 18 June 2021, 8:54 AM

State Finished
Completed on Friday, 18 June 2021, 9:36 AM
Grade 10.50 out of 15.00 (70%)
Question 1
Complete
What is the accrual basis of accounting?
Select one:
a. Matching Expenses With Revenue In The Appropriate Accounting Period.
b. Recognition Of Revenue In The Accounting Period When The Sale Is Made Rather Than When Cash Is Received
c. None Of The Above
d. Recognition Of Revenue When It Is Received In Cash 
Question 2
Complete
The purpose of directors responsibility statement is to give an assurance to stakeholders that
Select one:
a. Internal Controls Are In Place
b. Relevant Accountant Standards And Policies Have Been Followed
c. Going Concern Principle Being Followed In The Preparation Of Annual Accounts
d. All Of These
Question 3
Complete


Select one:
a. Revenue Is Recorded When A Contract Is Signed
b. Revenue Must Be Recorded When It Is Earned
c. A Rule That Accountants Can Choose To Follow 
Question 4
Complete
What are the basic financial statements provided in an annual report?
Select one:
a. Balance Sheet, Income Statement, Statement Of Cash Flows And Statement Of Stockholder’S Equity.
b. Balance Sheet, Income Statement And Statement Of Cash Flows.
c. Balance Sheet And Income Statement
d. Statement Of Financial Earnings And Statement Of Stockholder’S Equity.
Question 5
Complete


Out of the fund flow statement and cash flow statement which one is a broader concept: -
Select one:
a. Fund Flow Statement
c. Cash Flow Statement 
d. Cash Budget
Question 6
Complete
If a firm have a current ratio of 1, then its net working capital will be
Select one:
a. Zero
b. Negative
c. Same
d. Positive
Question 7
Complete


5 steps that need to be followed in revenue recognition: 1. Identify the contracts 2. Identify the performance obligations 3.
Determine the transaction price 4. Allocate the transaction price 5. _______________
Select one:
a. Recognise Revenue When (Or As) The Entity Satisfies A Performance Objective.
b. Complete The Contract 
c. Perform The Activity
d. Pay The Transaction Price
Question 8
Complete
The concept of financial statements quality implies:
Select one:
a. How The Financial Reports Of A Firm Correspond Its Fundamental Social Position.
b. Both A And B.
c. Unfair And Non Transparent Financial Information About The Firm.
d. Accuracy Of Using The Monetary Reports To Inform About Predicted Cashflows To Stakeholders.
Question 9
Complete


Under indirect method how will the changes in accounts receivables are reflected?
Select one:
a. Adjustment To Balance Sheet
b. Adjustment To Net Income
c. Can Be Adjusted In Any Statement 
d. Adjustment To Sales
Question 10
Complete
For companies registered under companies act 2013 statuary audit is performed by:
Select one:
a. Any Of These
b. Chartered Accountant
c. Company Secretary
d. Cost Accountant
Question 11
Complete


Which of the following is a financing activity?
Select one:
a. Cash Used To Make A Payment Of Long Term Loan
b. Cash Paid To Charities
c. Cash Received From Selling A Piece Of Equipment 
Question 12
Complete
………...…. reduces the value of property, plant, and equipment on the balance sheet as the value of assets is lowered over time due
to wear and tear and the reduction of their useful life.
Select one:
a. Expenses
b. Amortisation
c. Tax
d. Depreciation
Question 13
Complete


Select one:
a. Prepaid Expense
b. Cash 
c. Stock
d. Vehicle
Question 14
Complete
The statement of only parent firm without including the subsidiary statements are known as_____
Select one:
b. Consolidate Financial Statement
c. Individual Financial Statement
d. Non Consolidated Financial Statements
Question 15
Complete


If net profit margin is 10.50%, asset turnover is 0.80 and debt to asset ratio is 0.70 then what is the return on net worth ?
Select one:
a. 28%
b. 22%
c. 32% 
d. 15%
Question 16
Complete
Use revenue recognition principle to determine when a business should record revenue: A contract was signed in March for legal
work completed by a law firm in April. The client agreed to pay for the completed work in May and the law firm received payment in
early June.
Select one:
a. April
b. May
c. March
d. June
Question 17
Complete
Select one:
c. Revenue Is Recorded When Cash Is Received
d. A Rule That Accountants Can Choose To Follow
Question 18
Complete


It is usual for a retail shop to recognise revenue when:
Select one:
a. The Goods Have Been Delivered To The Customers’ Premises
b. The Customer Becomes Legally Obliged To Pay For The Goods
c. The Goods For Sale Have Arrived From The Supplier 
d. The Customer Pays For The Goods Sold
Question 19
Complete
Identify the transaction not involving outflow of cash.
Select one:
a. Interest Payments.
b. Depreciation.
c. Income Taxes Payments
d. Dividends.
Question 20
Complete


The process of recognizing the strengths and weaknesses of the firm by establishing the relationship among various items of
Balance Sheet and Income Statement is termed as
Select one:
a. None Of The Above
b. Financial Statement Analysis 
c. Merger & Acquisition
d. Cost Accounting
Question 21
Complete
Use the following information to determine when a business should record (or recognize) revenue: A contract was signed in March
for legal work completed by a law firm in April. The client agreed to pay for the completed work in May and the law firm received
payment in early June.
Select one:
a. May
b. June
c. April
d. March
Question 22
Complete
The existence of significant off-balance sheet financing mainly specifies:
Select one:
a. A Lack Of Transparency, Which Decreases Financial Reporting Quality.
b. A Lack Of Comprehensiveness, Which Decreases Financial Reporting Quality.
c. A Lack Of Unbiased Dimension, Which Decreases Financial Reporting Quality.
d. A Decrease In Debt, Which Decreases Financial Results Quality.
Question 23
Complete


Primary objective of cash flow statement is to provide information about:
Select one:
b. All Of These
c. Cash Flow Position Of The Company 
d. Profit Earned During The Year
Question 24
Complete
The primary objective of high quality financial reporting is presenting information about_________
Select one:
a. Environmental Issues
b. Monetary Units
c. All Of The Above
d. Social Benefits
Question 25
Complete


Select one:
c. Decrease In Creditors. 
d. Increase In Cash.
Question 26
Complete
One of the example of influenced accounting problems is:
Select one:
a. Aggressive Revenue Identification.
b. Measurement Of Revenues As Operating And Non- Operating.
c. Valuation Of Reserves.
d. Categorizing Non-Operating Revenue/Income As Non- Operating.
Question 27
Complete


Which statutory act requires that financial statements of companies shall comply with the accounting standards.
Select one:
a. All Of These
b. The Partnership Act, 1932
c. The Income Tax Act, 1961 
d. The Companies Act, 2013
Question 28
Complete
Which of the following statement is true about Ratio Analysis?
Select one:
a. Ratio Analysis Helps In Data Simplification And Association.
b. Ratio Analysis Does Not Helps In Facilitating Trend Analysis.
c. Ratio Analysis Does Not Assist In Comparative Analysis.
d. Ratio Analysis Does Not Helps In Identification Of Attention-Seeking Domains.
Question 29
Complete


The profit and loss account format as per Companies Act 2013 is given Schedule-
Select one:
a. Iii
b. Iv
c. Vi 
d. Vii
Question 30
Complete
Which one of the following is correct?
Select one:
a. Cash From Operations Is Equal To Net Profit Minus Increase In Debtors
b. Cash From Operations Is Equal To Net Profit Plus Debtors Outstanding At The Beginning Of The Accounting Year
c. Cash From Operations Is Equal To Net Profit Plus Increase In Debtors And Creditors
d. Cash From Operations Is Equal To Net Profit Adjusted For Non-Cash, Items And Adjustment For Working Capital Changes.
 

Started on Saturday, 29 May 2021, 7:56 PM
State Finished
Completed on Saturday, 29 May 2021, 8:46 PM
Time taken 50 mins 1 sec
Grade 13.00 out of 15.00 (87%)
Question 1
Complete
Select one:

a. Option B
b. Option A
c. Option A & B
d. Option B & C

Question 2
Complete
Select one:
a. Negative
b. Zero
c. Same
d. Positive
Question 3
Complete

Select one:
a. Institute Of Chartered Accountants Of India
b. Central Board Of Direct Taxes
c. Reserve Bank Of India


Question 4
Complete
Identify the transaction not involving out ow of cash.
Select one:
a. Income Taxes Payments
b. Depreciation.
c. Dividends.
d. Interest Payments.
Question 5
Complete

Select one:
a. Cost Accounting
c. None Of The Above 

d. Merger & Acquisition
Question 6
Complete
Select one:
a. Both A And C.
Question 7
Complete

Select one:
a. Yes, The Revenue Is Realizable
c. No, The Revenue Must Be In Cash 

d. Yes, The Revenue Is Realized
Question 8
Complete
Net Income is
Select one:
b. Total Revenue - Total Expense
d. Revenue - Total Expense - Deferred Tax
Question 9
Complete

Select one:
b. Cash Recoveries From A Loan
c. Cash Used To Make A Payment Of Long Term Loan


d. Cash Paid To Charities
Question 10
Complete
Amount set aside to meet the losses is a
Select one:
a. Pro t
b. Reserve
c. Liability
d. Loans
Question 11
Complete

Use the following information to determine when a business should record (or recognize) revenue: A contract was signed in March for legal
work completed by a law rm in April. The client agreed to pay for the completed work in May and the law rm received payment in early
June.
Select one:
a. June
b. May

c. April
d. March
Question 12
Complete
Financial statements should be submitted within ------- days from the end of each quarter except for ------ days in case of last quarter
Select one:
a. 60,45
b. 45, 60
c. 15,30
d. None Of These
Question 13
Complete

Under indirect method how will the changes in accounts receivables are re ected?
Select one:
a. Adjustment To Sales
b. Adjustment To Balance Sheet
c. Adjustment To Net Income


d. Can Be Adjusted In Any Statement
Question 14
Complete
Select one:
b. Share Capital
c. Investments
d. Current Liabilities And Provision
Question 15
Complete

………...…. reduces the value of property, plant, and equipment on the balance sheet as the value of assets is lowered over time due to wear
and tear and the reduction of their useful life.
Select one:
a. Depreciation
b. Amortisation
c. Tax 
d. Expenses
Question 16
Complete
Select one:
a. Classi cation Problems.
c. In uenced Accounting.
d. All Of The Above.
Question 17
Complete

Select one:
a. Non Consolidated Financial Statements
b. Standalone Financial Statement


Question 18
Complete
Select one:
Question 19
Complete

Select one:
a. Ratio Analysis Does Not Helps In Identi cation Of Attention-Seeking Domains.
b. Ratio Analysis Does Not Helps In Facilitating Trend Analysis.
c. Ratio Analysis Helps In Data Simpli cation And Association.


d. Ratio Analysis Does Not Assist In Comparative Analysis.
Question 20
Complete
Select one:
d. Statement Of Income
Question 21
Complete

Select one:
a. The Customer Becomes Legally Obliged To Pay For The Goods
b. The Goods Have Been Delivered To The Customers’ Premises
c. The Customer Pays For The Goods Sold


d. The Goods For Sale Have Arrived From The Supplier
Question 22
Complete
Select one:
a. Balance Sheet
b. Accounting Book
c. Financial Statement
d. Pro t & Loss Statement
Question 23
Complete

For Ramesha Industries some details are furnished below.Inventory is Rs.90,000,Prepaid expenses Rs. 25,000, Quick ratio 2.5 to 1 and
current liabilities Rs. 60,000. The current ratio is______________
Select one:
a. 3.16
b. 4.10
c. 5.2 
d. 4.42
Question 24
Complete
Select one:
a. Company Secretary
b. Any Of These
c. Chartered Accountant
d. Cost Accountant
Question 25
Complete

Select one:
b. Fund Flow Statement
c. Cash Budget

Question 26
Complete
The pro t and loss account format as per Companies Act 2013 is given Schedule-
Select one:
a. Iii
b. Vii
c. Vi
d. Iv
Question 27
Complete

What is the statement of stockholder’s equity?
Select one:
a. It Is The Same As A Retained Earnings Statement
b. It Is A Statement Reconciling The Di erence Between Stock Issued At Par Value And Stock Issued At Market Value
c. It Is A Statement That Reconciles Only The Treasury Stock Account


d. It Is A Statement That Lists The Causes Of Changes In The Stockholder’S Equity During The Financial Year
Question 28
Not answered
Marked out of 0.50
One of the example of in uenced accounting problems is:
Select one:
a. Categorizing Non-Operating Revenue/Income As Non- Operating.
b. Valuation Of Reserves.
c. Aggressive Revenue Identi cation.
d. Measurement Of Revenues As Operating And Non- Operating.
Question 29
Complete

Select one:
a. Board Of Directors
b. Human Resource Manager
c. Chief Accountant

d. Supervisor
Question 30
Complete
What is the balancing equation for the balance sheet?
Select one:
a. Assets + Stockholder’S Equity = Liabilities
b. Assets + Liabilities = Stockholder’S Equity
c. Assets = Liabilities + Stockholder’S Equity
d. Revenues – Expenses = Net Income
 


Started on Saturday, 19 June 2021, 9:03 PM

State Finished
Completed on Saturday, 19 June 2021, 9:36 PM
Grade 12.50 out of 15.00 (83%)
Question 1
Complete
Select one:
a. Perform The Activity
b. Recognise Revenue When (Or As) The Entity Satisfies A Performance Objective.
c. Complete The Contract 
Question 2
Complete
The prime accountability of the financial statements being a fair and true representation of the financial health of the firm lies with the:
Select one:
a. Supervisor
b. Chief Accountant
Question 3
Complete

The factors that may affect the quality of financial statements are:
Select one:
b. Classification Problems.
c. Measurement And Timing Problems.
d. Influenced Accounting. 
Question 4
Complete
Select one:
a. Cash Recoveries From A Loan
b. Cash Received From Selling A Piece Of Equipment
d. Cash Used To Make A Payment Of Long Term Loan
Question 5
Complete

Net Income is
Select one:
a. Revenue - Total Expense - Deferred Tax
c. Total Revenue - Total Expense
d. Total Revenue - Cost Of Goods Sold 
Question 6
Complete
Select one:
c. Measurement Of Revenues As Operating And Non- Operating.
Question 7
Complete

Select one:
a. It Is The Same As A Retained Earnings Statement
b. It Is A Statement That Lists The Causes Of Changes In The Stockholder’S Equity During The Financial Year
c. It Is A Statement That Reconciles Only The Treasury Stock Account
d. It Is A Statement Reconciling The Difference Between Stock Issued At Par Value And Stock Issued At Market Value 
Question 8
Complete
Select one:
a. Option A & B
b. Option B
c. Option B & C
d. Option A
Question 9
Complete

Select one:
a. 28%
b. 15%
c. 32%

d. 22%
Question 10
Complete
The quality of financial statements is majorly determined by:
Select one:
a. All Of The Above
b. Balance Sheet Quality
c. Earnings Quality
d. Cashflows Quality
Question 11
Complete

Select one:
a. A Lack Of Comprehensiveness, Which Decreases Financial Reporting Quality.
b. A Decrease In Debt, Which Decreases Financial Results Quality.
c. A Lack Of Transparency, Which Decreases Financial Reporting Quality.
d. A Lack Of Unbiased Dimension, Which Decreases Financial Reporting Quality. 
Question 12
Complete
What does balance sheet summarize for a business enterprise
Select one:
a. Financial Position At A Point In Time
b. D. Profit Or Loss At A Point In Time.
c. C. Financing And Investment Activities For A Period
d. Operating Results For A Period
Question 13
Complete

Which of the following would be considered a cash-flow item from an "investing" activity?
Select one:
a. All Of These.
b. Cash Inflow From Dividend Income.
c. Cash Outflow To Acquire Fixed Assets.
d. Cash Inflow From Interest Income. 
Question 14
Complete
following further information is available: Profit after tax Rs. 2,70,000 Equity dividend paid 0% Market price of equity shares Rs.40 each.
Select one:
a. Rs. 3.04, 13.16
b. Rs. 3.12, 10.80
c. Rs. 3.33, 10.34
d. 0
Question 15
Complete

Select one:
a. Balance Sheet And Income Statement
b. Balance Sheet, Income Statement And Statement Of Cash Flows.
c. Balance Sheet, Income Statement, Statement Of Cash Flows And Statement Of Stockholder’S Equity. 
d. Statement Of Financial Earnings And Statement Of Stockholder’S Equity.
Question 16
Complete
Select one:
a. Consolidate Financial Statement
c. Non Consolidated Financial Statements
Question 17
Complete

Select one:
a. Decrease In Creditors.
b. Increase In Cash.
c. Decrease In Inventory
d. Decrease In Bank Borrowings. 
Question 18
Complete
Select one:
a. Reserve
b. Profit
c. Liability
d. Loans
Question 19
Complete

Select one:
a. Social Benefits
b. Monetary Units
c. All Of The Above
d. Environmental Issues 
Question 20
Complete
Select one:
a. The Income Tax Act, 1961
b. The Companies Act, 2013
c. All Of These
d. The Partnership Act, 1932
Question 21
Complete

Select one:
a. Profit & Loss Statement
c. Accounting Book
d. Balance Sheet 
Question 22
Complete
Select one:
a. Internal Auditor Should Not Be A Practicing Chartered Accountant Or Cost Accountant
b. Internal Auditor Must Be A Practicing Chartered Accountant Or Cost Accountant
c. Internal Auditor May Be Or May Not Be A Practicing Chartered Accountant Or Cost Accountant
d. Internal Auditor May Be Or May Not Be A Practicing Company Secretary Or Cost Accountant
Question 23
Complete

work completed by a law firm in April. The client agreed to pay for the completed work in May and the law firm received payment in early
June.
Select one:
a. April
b. March
c. May 
d. June
Question 24
Complete
Income is increase in economic benefits during the accounting period in the form of
Select one:
a. Increases In Assets And Increases In Liabilities
b. Decrease In Asset But No Change In Liability
c. Increase In Asset But No Change In Liability
d. Increases In Assets And Decreases In Liabilities
Question 25
Complete

Select one:
a. Profit Earned During The Year
b. Future Plans Of Company
c. Cash Flow Position Of The Company
d. All Of These 
Question 26
Complete
Select one:
a. None Of These
b. 60,45
c. 15,30
d. 45, 60
Question 27
Complete

Select one:
a. Current Liabilities And Provision
b. Investments
c. Share Capital
d. Non Current Assets 
Question 28
Complete
The process of recognizing the strengths and weaknesses of the firm by establishing the relationship among various items of Balance Sheet
Select one:
a. Financial Statement Analysis
b. Cost Accounting
Question 29
Complete

The following information is extracted from the financial statement of KTS Ltd.: Cost of goods sold Rs. 25,00,000 Sales Rs. 50,00,000 Average
accounts receivable Rs. 4,00,000 Average inventory Rs. 15,00,000 Average assets Rs. 50,00,000 Net profit Rs. 10,00,000. The accounts
receivable turnover, inventory turnover and total assets turnover for a firm are___________.
Select one:
b. 12.5 Times, 1.67 Times, 1 Times 
c. 11.1 Times, 1.2 Times, 0.63 Times
Question 30
Complete
Select one:
 

Started on Saturday, 19 June 2021, 10:07 AM

State Finished
Completed on Saturday, 19 June 2021, 10:46 AM
Grade 13.00 out of 15.00 (87%)
Question 1
Complete
Use revenue recognition principle to determine when a business should record revenue: A contract was signed in March for legal work
completed by a law firm in April. The client agreed to pay for the completed work in May and the law firm received payment in early June.
Select one:
a. June
b. May
c. April
d. March
Question 2
Complete
The profit and loss account format as per Companies Act 2013 is given Schedule-
Select one:
a. Iii
b. Vii
c. Iv
d. Vi
Question 3
Complete
Net Income is 
Select one:
a. Revenue - Total Expense - Deferred Tax
c. Total Revenue - Total Expense
d. Total Revenue - Cost Of Goods Sold
Question 4
Complete
FTL Ltd. reported profit of 10 lakhs for 2019 and cash balance decreased by 2,40,000. Which financial statement should investors of FTL Ltd.
Select one:
b. Balance Sheet
c. Profit And Loss Account
d. Director’S Responsibility Statement
Question 5
Complete
What are the other motives behind influenced accounting?


Select one:
a. Cleaning At The Time Of New Ceo Joining.
b. To Forgo Tax Benefits.
c. Management Perks And Benefits.
d. Both A And C.
Question 6
Complete
Select one:
b. Profit Earned During The Year
c. All Of These
Question 7
Complete
The term current asset doesn’t cover 

Select one:
a. Vehicle
b. Prepaid Expense
c. Stock
d. Cash
Question 8
Complete
Holiday Ltd. Posted a net loss of 50,000 for 2019, while reporting the increase in cash balance. As an investor you should refer to ------ for
enhanced understanding.
Select one:
a. Directors Responsibility Statement
b. Profit And Loss Account
c. Cash Flow Statement
d. Balance Sheet
Question 9
Complete
What is revenue?

Select one:
b. The Amount Of Money A Business Earns From Selling Its Goods And Services
c. . The Cash Received From Selling Goods And Services
Question 10
Complete
Select one:
a. The Customer Pays For The Goods Sold
b. The Goods Have Been Delivered To The Customers’ Premises
c. The Goods For Sale Have Arrived From The Supplier
d. The Customer Becomes Legally Obliged To Pay For The Goods
Question 11
Complete
Identify the transaction not involving outflow of cash. 

Select one:
a. Income Taxes Payments
b. Interest Payments.
c. Dividends.
d. Depreciation.
Question 12
Complete
Select one:
a. Cash Budget
d. Cash Flow Statement
Question 13
Complete
Which of the following item are not a part of current assets in a firm? 
Select one:
a. Accounts Receivables
b. Outstanding Expenses
c. Prepaid Expenses
d. Inventory
Question 14
Complete
Select one:
a. Rs. 3.12, 10.80
b. 0
c. Rs. 3.33, 10.34
d. Rs. 3.04, 13.16
Question 15
Complete

Select one:
b. Monetary Units
c. Social Benefits
d. All Of The Above
Question 16
Complete
Select one:
a. Pay The Transaction Price
b. Perform The Activity
c. Recognise Revenue When (Or As) The Entity Satisfies A Performance Objective.
d. Complete The Contract
Question 17
Complete
What does the income statement measure for a firm?


Select one:
a. The Financial Position Of A Firm For A Period.
b. The Financing And Investment Activities For A Period
c. The Results Of Operations For A Period
d. The Changes In Assets And Liabilities That Occurred During The Period
Question 18
Complete
Select one:
a. D. Profit Or Loss At A Point In Time.
b. C. Financing And Investment Activities For A Period
c. Financial Position At A Point In Time
Question 19
Complete
Which one of the following is correct? 

Select one:
a. Cash From Operations Is Equal To Net Profit Adjusted For Non-Cash, Items And Adjustment For Working Capital Changes.
b. Cash From Operations Is Equal To Net Profit Minus Increase In Debtors
d. Cash From Operations Is Equal To Net Profit Plus Debtors Outstanding At The Beginning Of The Accounting Year
Question 20
Complete
Which of the following is a cash flow from a "financing" activity?
Select one:
a. Cash Inflow From Sale Of Investments
b. Cash Outflow To The Government For Taxes.
c. Cash Outflow To Shareholders As Dividends.
d. Cash Outflow To Purchase Bonds Issued By Another Company
Question 21
Complete
If a firm have a current ratio of 1, then its net working capital will be 
Select one:
a. Negative
b. Zero
c. Positive
d. Same
Question 22
Complete
Select one:
a. Can Be Adjusted In Any Statement
c. Adjustment To Sales
d. Adjustment To Balance Sheet
Question 23
Complete
Which of the following would be considered a cash-flow item from an "investing" activity? 
Select one:
a. Cash Inflow From Interest Income.
b. All Of These.
d. Cash Inflow From Dividend Income.
Question 24
Complete
Select one:
a. 15,30
b. 45, 60
c. None Of These
d. 60,45
Question 25
Complete

Select one:
a. 4.10
b. 4.42
c. 5.2
d. 3.16
Question 26
Complete
Select one:
a. Increases In Assets And Decreases In Liabilities
b. Increase In Asset But No Change In Liability
c. Increases In Assets And Increases In Liabilities
d. Decrease In Asset But No Change In Liability
Question 27
Complete
3,50,000.

Select one:
a. 4.5
b. 2.89
c. 4.38
d. 2.56
Question 28
Complete
work completed by a law firm in April. The client agreed to pay for the completed work in May and the law firm received payment in early
June.
Select one:
a. May
b. March
c. April
d. June
Question 29
Complete

Select one:
Question 30
Complete
Select one:
a. Reserve
b. Profit
c. Loans
d. Liability
 
Started on Wednesday, 16 June 2021, 7:23 PM
State Finished
Completed on Wednesday, 16 June 2021, 8:05 PM
Grade 14.00 out of 15.00 (93%)
Question 1
Complete
Remove flag
Question text

Select one:
b. Accuracy Of Using The Monetary Reports To Inform About Predicted Cashflows To
Stakeholders.
c. Both A And B.
d. Unfair And Non Transparent Financial Information About The Firm.
Question 2
Complete
Flag question
Question text
The following information is extracted from the financial statement of KTS Ltd.: Cost of goods
sold Rs. 25,00,000 Sales Rs. 50,00,000 Average accounts receivable Rs. 4,00,000 Average
inventory Rs. 15,00,000 Average assets Rs. 50,00,000 Net profit Rs. 10,00,000. The accounts
Select one:
b. 12.5 Times, 1.67 Times, 1 Times
Question 3
Complete
Flag question
Question text

Select one:
a. Earnings Quality
b. Cashflows Quality
c. Balance Sheet Quality
d. All Of The Above
Question 4
Complete
Flag question
Question text
The capital structure of AB Ltd. is as follows: 9% preference shares of Rs. 10 each Rs. 3,00,000
Equity shares of Rs. 10 each Rs. 8,00,000. The following further information is available: Profit
after tax Rs. 2,70,000 Equity dividend paid 0% Market price of equity shares Rs.40 each. From
the above information, the EPS and PE ratio are ________and __________.
Select one:
a. 0
b. Rs. 3.12, 10.80
c. Rs. 3.04, 13.16
d. Rs. 3.33, 10.34
Question 5
Complete
Flag question
Question text
Select one:
a. Any Of These
d. Cost Accountant
Question 6
Complete
Flag question
Question text
5 steps that need to be followed in revenue recognition: 1. Identify the contracts 2. Identify the
performance obligations 3. Determine the transaction price 4. Allocate the transaction price 5.
_______________
Select one:
c. Complete The Contract
Question 7
Complete
Flag question
Question text
Select one:
a. Cash Budget
d. Fund Flow Statement
Question 8
Complete
Remove flag
Question text

Select one:
a. Cash Outflow To Shareholders As Dividends.
c. Cash Outflow To Purchase Bonds Issued By Another Company
d. Cash Inflow From Sale Of Investments
Question 9
Complete
Flag question
Question text
The statement of only parent firm without including the subsidiary statements are known
as_____
Select one:
b. Individual Financial Statement
d. Consolidate Financial Statement
Question 10
Complete
Flag question
Question text
For Ramesha Industries some details are furnished below.Inventory is Rs.90,000,Prepaid

expenses Rs. 25,000, Quick ratio 2.5 to 1 and current liabilities Rs. 60,000. The current ratio
is______________
Select one:
a. 3.16
b. 5.2
c. 4.10
d. 4.42
Question 11
Complete
Flag question
Question text

Select one:
b. All Of These
c. Relevant Accountant Standards And Policies Have Been Followed
d. Going Concern Principle Being Followed In The Preparation Of Annual Accounts
Question 12
Not answered
Marked out of 0.50
Flag question
Question text

Select one:
Question 13
Complete
Flag question
Question text
Select one:
a. All Of These.
d. Cash Inflow From Interest Income.
Question 14
Complete
Flag question
Question text
If net profit margin is 10.50%, asset turnover is 0.80 and debt to asset ratio is 0.70 then what is
the return on net worth ?
Select one:
a. 15%
b. 22%
c. 28%
d. 32%
Question 15
Complete
Flag question
Question text

Select one:
b. Comptroller And Auditor General Of India
d. Reserve Bank Of India
Question 16
Complete
Flag question
Question text

Select one:
a. A Rule That Accountants Can Choose To Follow
c. Revenue Must Be Recorded When It Is Earned
Question 17
Complete
Flag question
Question text

Select one:
a. Cash From Operations Is Equal To Net Profit Adjusted For Non-Cash, Items And
Adjustment For Working Capital Changes.
d. Cash From Operations Is Equal To Net Profit Plus Debtors Outstanding At The Beginning
Of The Accounting Year
Question 18
Complete
Flag question
Question text

Select one:
c. Operating Results For A Period
d. C. Financing And Investment Activities For A Period
Question 19
Complete
Flag question
Question text
The prime accountability of the financial statements being a fair and true representation of the
financial health of the firm lies with the:
Select one:
a. Supervisor
b. Board Of Directors
c. Human Resource Manager
d. Chief Accountant
Question 20
Complete
Flag question
Question text
The terms ‘………...….’ is used in the context of PP&E and the term '………...….' is used in the
context of intangible assets.
Select one:
a. Amortisation, Depletion
b. Depreciation, Depletion
Question 21
Complete
Flag question
Question text
………...…. reduces the value of property, plant, and equipment on the balance sheet as the
value of assets is lowered over time due to wear and tear and the reduction of their useful life.
Select one:
a. Amortisation
b. Expenses
c. Tax
d. Depreciation
Question 22
Complete
Flag question
Question text
The process of recognizing the strengths and weaknesses of the firm by establishing the
relationship among various items of Balance Sheet and Income Statement is termed as
Select one:
c. Financial Statement Analysis
d. Cost Accounting
Question 23
Complete
Remove flag
Question text
The measurement and timings error in financial statements quality can be in the form of:
Select one:
a. Both A And B.
b. Wrong Estimation Of Life Of The Asset.
c. Correct Provisioning Of Certain Expenses.
d. Correct Measurement Of Revenue.
Question 24
Complete
Flag question
Question text
Select one:
a. Negative
b. Zero
c. Positive
d. Same
Question 25
Complete
Flag question
Question text

Select one:
c. Cash Recoveries From A Loan
Question 26
Complete
Flag question
Question text
Compute the working capital turnover ratio if, Current assets is Rs 1,60,000, current liabilities is
Rs 80,000 and Cost of goods sold is Rs 3,50,000.
Select one:
a. 2.56
b. 4.5
c. 2.89
d. 4.38
Question 27
Complete
Flag question
Question text

Select one:
a. Investments
b. Share Capital
c. Non Current Assets
Question 28
Complete
Flag question
Question text
Select one:
d. Increases In Assets And Increases In Liabilities
Question 29
Complete
Remove flag
Question text
Holiday Ltd. Posted a net loss of 50,000 for 2019, while reporting the increase in cash balance.
As an investor you should refer to ------ for enhanced understanding.
Select one:
c. Balance Sheet
Question 30
Complete
Remove flag
Question text
FTL Ltd. reported profit of 10 lakhs for 2019 and cash balance decreased by 2,40,000. Which
financial statement should investors of FTL Ltd. refer to for an understanding of situation?
Select one:
a. Profit And Loss Account
b. Director’S Responsibility Statement
d. Balance Sheet

State Finished
Grade 12.00 out of 15.00 (80%)
Question 1
Complete
Select one:
a. Balance Sheet And Income Statement
b. Statement Of Financial Earnings And Statement Of Stockholder’S Equity.
c. Balance Sheet, Income Statement, Statement Of Cash Flows And Statement Of Stockholder’S Equity.
d. Balance Sheet, Income Statement And Statement Of Cash Flows.

Question 2
Complete
Select one:
a. Zero
b. Negative
c. Same
d. Positive
Question 3
Complete

Select one:
a. Dividends.
b. Depreciation.
c. Interest Payments.
d. Income Taxes Payments 
Question 4
Complete
What does the income statement measure for a firm?
Select one:
a. The Results Of Operations For A Period
b. The Financing And Investment Activities For A Period
c. The Changes In Assets And Liabilities That Occurred During The Period
d. The Financial Position Of A Firm For A Period.
Question 5
Complete

Select one:
a. The Companies Act, 2013
b. The Income Tax Act, 1961
c. All Of These
d. The Partnership Act, 1932 
Question 6
Complete
Select one:
a. C. Financing And Investment Activities For A Period
c. Financial Position At A Point In Time
Question 7
Complete

Select one:
c. Revenue Is Recorded When Cash Is Received
d. A Rule That Accountants Can Choose To Follow 
Question 8
Complete
Select one:
a. Yes, The Revenue Is Realized
c. Yes, The Revenue Is Realizable
d. No, The Revenue Must Be In Cash
Question 9
Complete

Select one:
a. Comptroller And Auditor General Of India
b. Reserve Bank Of India
c. Institute Of Chartered Accountants Of India

d. Central Board Of Direct Taxes
Question 10
Complete
What is revenue?
Select one:
b. The Amount Of Money Owed To A Business By Its Customers
d. . The Cash Received From Selling Goods And Services
Question 11
Complete

The process of recognizing the strengths and weaknesses of the firm by establishing the relationship among various items of Balance Sheet
Select one:
a. Financial Statement Analysis
b. Cost Accounting

Question 12
Complete
Select one:
a. Correct Measurement Of Revenue.
b. Both A And B.
c. Wrong Estimation Of Life Of The Asset.
d. Correct Provisioning Of Certain Expenses.
Question 13
Complete

Select one:
b. Revenue Is Recorded When Cash Is Received
d. Revenue Is Recorded When A Contract Is Signed 
Question 14
Complete
Misclassification of revenue expense as a capital expense leads to:
Select one:
a. Leads Finance Managers To Treat Recurring Expenses As A One-Time Expense.
b. An Increase In Expenses And A Decrease In Profits.
c. Leads To Increase In Inventory Turnover Ratio.
d. Decrease In Expenses And An Increase In Profits.
Question 15
Complete

Select one:
a. Ratio Analysis Does Not Helps In Facilitating Trend Analysis.
b. Ratio Analysis Helps In Data Simplification And Association.
c. Ratio Analysis Does Not Helps In Identification Of Attention-Seeking Domains.
d. Ratio Analysis Does Not Assist In Comparative Analysis. 
Question 16
Complete
Select one:
a. Individual Financial Statement
d. Standalone Financial Statement
Question 17
Complete

Select one:
a. It Is A Statement That Reconciles Only The Treasury Stock Account
b. It Is A Statement Reconciling The Difference Between Stock Issued At Par Value And Stock Issued At Market Value
c. It Is A Statement That Lists The Causes Of Changes In The Stockholder’S Equity During The Financial Year
d. It Is The Same As A Retained Earnings Statement 
Question 18
Complete
Select one:
b. Cash Flow Position Of The Company
c. Future Plans Of Company
d. All Of These
Question 19
Complete

Select one:
a. Increase In Asset But No Change In Liability
c. Increases In Assets And Increases In Liabilities
d. Increases In Assets And Decreases In Liabilities 
Question 20
Complete
Select one:
a. Valuation Of Reserves.
b. Categorizing Non-Operating Revenue/Income As Non- Operating.
d. Aggressive Revenue Identification.
Question 21
Complete

What are the other motives behind influenced accounting?
Select one:
a. Both A And C.
b. Management Perks And Benefits.
c. Cleaning At The Time Of New Ceo Joining.
d. To Forgo Tax Benefits. 
Question 22
Complete
Select one:
a. Chief Accountant
c. Supervisor
Question 23
Complete

Select one:
a. 28%
b. 22%
c. 15%
d. 32% 
Question 24
Complete
Which of the following item are not a part of current assets in a firm?
Select one:
a. Prepaid Expenses
b. Accounts Receivables
c. Inventory
d. Outstanding Expenses
Question 25
Complete

Select one:
a. Profit
b. Loans
c. Liability
d. Reserve 
Question 26
Complete
Select one:
a. Rs. 3.04, 13.16
b. Rs. 3.33, 10.34
c. 0
d. Rs. 3.12, 10.80
Question 27
Complete

Select one:
a. Both A And B.
b. Accuracy Of Using The Monetary Reports To Inform About Predicted Cashflows To Stakeholders.
c. Unfair And Non Transparent Financial Information About The Firm. 
d. How The Financial Reports Of A Firm Correspond Its Fundamental Social Position.
Question 28
Complete
Select one:
a. Cash Paid To Charities
Question 29
Complete

Select one:
a. All Of These
b. Listed Companies
d. Unlisted Companies 
Question 30
Complete
Select one:
a. Cash Budget
 

Started on Monday, 31 May 2021, 9:34 PM
State Finished
Completed on Monday, 31 May 2021, 10:24 PM
Grade 9.00 out of 15.00 (60%)
Question 1
Complete
Select one:
a. Amortisation
b. Tax 
c. Depreciation
d. Expenses
Question 2
Complete
Select one:
a. Operating Results For A Period
b. D. Pro t Or Loss At A Point In Time.
c. C. Financing And Investment Activities For A Period
d. Financial Position At A Point In Time
Question 3
Complete 
Which statutory act requires that nancial statements of companies shall comply with the accounting standards.
Select one:
a. All Of These
c. The Companies Act, 2013
d. The Income Tax Act, 1961
Question 4
Complete
Holiday Ltd. Posted a net loss of 50,000 for 2019, while reporting the increase in cash balance. As an investor you should refer to ------ for
enhanced understanding.
Select one:
b. Cash Flow Statement
c. Balance Sheet
d. Pro t And Loss Account
Question 5
Complete

Select one:
a. 15,30
b. 45, 60
c. None Of These
d. 60,45
Question 6
Complete
The concept of nancial statements quality implies:
Select one:
a. Both A And B.
b. How The Financial Reports Of A Firm Correspond Its Fundamental Social Position.
c. Accuracy Of Using The Monetary Reports To Inform About Predicted Cash ows To Stakeholders.
Question 7
Not answered 
Marked out of 0.50
The existence of signi cant o -balance sheet nancing mainly speci es:
Select one:
b. A Lack Of Unbiased Dimension, Which Decreases Financial Reporting Quality.
c. A Decrease In Debt, Which Decreases Financial Results Quality.
d. A Lack Of Comprehensiveness, Which Decreases Financial Reporting Quality.
Question 8
Complete
Income is increase in economic bene ts during the accounting period in the form of
Select one:
a. Increase In Asset But No Change In Liability
c. Increases In Assets And Decreases In Liabilities
Question 9
Complete 
Select one:
c. Standalone Financial Statement
Question 10
Complete
Select one:
c. Revenue Is Recorded When A Contract Is Signed
d. Revenue Must Be Recorded When It Is Earned
Question 11
Complete 
Select one:
a. Dividends.
d. Depreciation.
Question 12
Complete
Select one:
a. Cash Budget
Question 13
Complete 
The primary objective of high quality nancial reporting is presenting information about_________
Select one:
b. Monetary Units
c. All Of The Above
d. Social Bene ts
Question 14
Complete
Which of the following would be considered a cash- ow item from an "investing" activity?
Select one:
a. Cash In ow From Dividend Income.
b. Cash In ow From Interest Income.
c. All Of These.
d. Cash Out ow To Acquire Fixed Assets.
Question 15
Complete 
Select one:
b. Share Capital
c. Current Liabilities And Provision
d. Investments
Question 16
Complete
Select one:
a. Negative
b. Same
c. Positive
d. Zero
Question 17
Complete 
Which of the following item are not a part of current assets in a rm?
Select one:
a. Inventory
c. Accounts Receivables
d. Prepaid Expenses
Question 18
Complete
Select one:
a. Recognition Of Revenue In The Accounting Period When The Sale Is Made Rather Than When Cash Is Received
b. Matching Expenses With Revenue In The Appropriate Accounting Period.
d. Recognition Of Revenue When It Is Received In Cash
Question 19
Complete 
Select one:
a. Increase In Cash.
b. Decrease In Bank Borrowings.
c. Decrease In Creditors.
d. Decrease In Inventory
Question 20
Complete
Select one:
a. Revenue Is Recorded When Cash Is Received
Question 21
Complete 
following further information is available: Pro t after tax Rs. 2,70,000 Equity dividend paid 0% Market price of equity shares Rs.40 each. From
Select one:
a. 0
b. Rs. 3.04, 13.16
c. Rs. 3.12, 10.80
d. Rs. 3.33, 10.34
Question 22
Complete
Select one:
b. All Of These
c. Pro t Earned During The Year
Question 23
Complete 
completed by a law rm in April. The client agreed to pay for the completed work in May and the law rm received payment in early June.
Select one:
a. March
b. April
c. May
d. June
Question 24
Complete
Select one:
a. Relevant Accountant Standards And Policies Have Been Followed
b. Internal Controls Are In Place
c. All Of These
Question 25
Complete 
Select one:
a. Internal Auditor Should Not Be A Practicing Chartered Accountant Or Cost Accountant
b. Internal Auditor May Be Or May Not Be A Practicing Chartered Accountant Or Cost Accountant
d. Internal Auditor Must Be A Practicing Chartered Accountant Or Cost Accountant
Question 26
Complete
Select one:
a. 15%
b. 22%
c. 28%
d. 32%
Question 27
Complete 
Select one:
Question 28
Complete
Select one:
a. Statement Of Income
d. Statement Of Expenses
Question 29
Complete 
work completed by a law rm in April. The client agreed to pay for the completed work in May and the law rm received payment in early
June.
Select one:
a. April
b. March
c. May
d. June
Question 30
Complete
Select one:
a. 12.5 Times, 1.67 Times, 1 Times

 
Started on Sunday, 22 November 2020, 5:10 AM

State Finished
Completed on Sunday, 22 November 2020, 5:35 AM
Grade 14.00 out of 15.00 (93%)
Question 1
Complete
Indirect Labour Cost cannot be conveniently traced to a speci c unit of product /output and includes
Select one:
a. All of these
b. Foremen, time-keepers
c. Directors’ and salesmen salary
d. Wages of storekeepers 
Question 2
Complete
A margin is the excess of unit sale price over unit variable cost.
Select one:
a. Contribution
b. Situational
c. None of these
d. Cost
Question 3
Complete

Zeta Ltd. Manufactures the furniture and sells it without ne nishing. Their material and labour cost is Rs 2000 per unit and Rent is Rs
25000 per month. Company sells 25 units per month. Now the management decided to do proper nishing and polishing of furniture
before selling it. This will lead to additional Rs 500 variable cost per unit and selling price can be increased by Rs 800 per unit. What is the
relevant cost to take this decision?
Select one:
a. Rs 500 per unit
b. Rs 3000 per unit 
c. Rs 2000 per unit
d. Rs 2500 per unit
Question 4
Complete
It is a system based on activities linking spending on resources to the products/services produced or delivered to customers.
Select one:
a. Activity cost driver rate
b. Activity rate cost
c. Activity based cost
d. None of these
Question 5
Complete

The type of cost which changes with the change in alternative course of decision/actions whereas irrelevant cost remains constant across all
the alternative course of decision/ actions
Select one:
a. Irrelevant
b. Constant
c. Relevant

d. None of these
Question 6
Complete
Machine Set-up Hours is an example of which type of activity cost driver
Select one:
a. None of these
b. Duration
c. Transaction
d. Intensity
Question 7
Complete

The following is the basic assumption of variable costing technique
Select one:
a. Fixed costs are sunk cost
b. Fixed costs resulting from the investment are product costs.
c. Variable costs are period costs.
d. Fixed costs resulting from the investment are period costs. 
Question 8
Complete
Operating budgets relate to the physical activities or operations of a rm such as sales, production, purchasing, debtors collection and
creditors payment schedules and in speci c terms, an operating budget has the following components:
Select one:
a. Sales budget
b. All of these
c. Purchase budget
d. Production budget
Question 9
Complete

________ cost is the traceable cost for a particular product
Select one:
a. Indirect
b. Variable
c. Direct

d. Di erential
Question 10
Complete
Which of the following is feature of Zero base budgeting?
Select one:
a. Concentration on justi cation of the activity
b. Based on cost-bene ts
c. Individual units are linked to organizational targets
d. All of these
Question 11
Complete

No. of Inspections is an example of which type of activity cost driver
Select one:
a. Duration
b. None of these
c. Intensity
d. Transaction 
Question 12
Complete
The following is included in product cost under full costing.
Select one:
a. Contingent cost
b. Fixed cost
c. Cost of capital
d. Opportunity cost
Question 13
Complete

There are three di erent types of cost behaviours which can be visualised with changes in volume or level of activity:
Select one:
a. Fixed costs
b. All of these
c. Mixed costs
d. Variable costs 
Question 14
Complete
Direct Human e orts, both physical and mental, used for conversion of materials into nished products is
Select one:
a. Labour
b. Work
c. None of these
d. Production
Question 15
Complete

A cost-pro t analysis shows the relationship among the various ingredients of pro t planning, namely, unit sale price, variable cost, sales
volume, sales mix and xed cost is
Select one:
a. Cost-Volume-Pro t Analysis
b. None of these
c. Quantity-Volume-Pro t Analysis

d. Cost-Weight-Pro t Analysis
Question 16
Complete
The Pearl Merchandise Company has budgeted Rs 40,000 in sales for the month of December. The company’s cost of goods sold is 30% of
sales. If the company has budgeted to purchase Rs 18,000 in merchandise during December, then the budgeted change in inventory levels
over the month of December is:
Select one:
a. Rs 6,000 Decrease
b. Rs 15,000 Increase
c. Rs 10,000 Increase
d. Rs 22,000 Decrease
Question 17
Complete

It is the cost of materials which cannot be conveniently assigned to a speci c physical unit of production.
Select one:
a. Direct material cost
b. None of these
c. Indirect expenses Cost 
d. Indirect material cost
Question 18
Complete
If xed cost is Rs 5000 and units produced in a year are 1000, then how much xed cost will be charged to product in case of variable
costing?
Select one:
a. Rs 60
b. Rs 5
c. Rs 0
d. Rs 5000
Question 19
Complete

At a break-even point of 400 units, variable costs were Rs 400 and xed costs were Rs 200. What will the 401st unit sold contribution to
operating pro ts before income taxes is
Select one:
a. Rs 2.00
b. Rs 1.50
c. Rs 1.00 
d. Rs 0.50
Question 20
Complete
The following is considered as product cost under variable costing.
Select one:
a. Contingent cost
b. Fixed cost
c. Opportunity cost
d. Direct material cost
Question 21
Complete

Avoidable costs are relevant costs when particular decision alternatives are
Select one:
a. Expensive
b. Compared
c. Inexpensive
d. None of these 
Question 22
Complete
The substance from which the product is made is known as material and all the materials which become an integral part of the nished
product and which can be conveniently assigned to speci c physical units are called as
Select one:
a. Labour
b. Direct material
c. None of these
d. Indirect Material
Question 23
Complete

cost concept which is relevant to the short-term decision making is the
Select one:
a. Sunk cost
b. Committed cost
c. Opportunity costs

d. None of these
Question 24
Complete
Activity cost drivers are measures that identify the following:
Select one:
a. Cost objects
b. They serve as quantitative measures of the resources
c. Linkage between activities and cost objects
d. All of these
Question 25
Complete

Zero base budgeting (ZBB) can be de ned as
Select one:
a. All of these
b. It is a management process that provides for systematic consideration of all programs.
c. Justi cation of each program
d. A tool for e cient use of resources 
Question 26
Complete
The Planning Process includes:
Select one:
a. Strategies
b. Objectives
c. All of these
d. Goals
Question 27
Complete

Cost of any nished product can be calculated on the basis of
Select one:
a. All the Above
b. Salary paid to the employees
c. Tax paid on the nal product
d. Cost of material 
Question 28
Complete
A type of costing system in which only variable costs are recognised as product costs is called as
Select one:
a. Fixed
b. Variable
c. Invariable
d. None of these
Question 29
Complete

The monetary bene ts that would accrue from taking the alternative course are sacri ced and these bene ts, if measurable, should be
added to the costs of the
Select one:
a. Time
b. All of these
c. Money

d. Decision
Question 30
Complete
The costing indicates that the manufacturing xed overheads are inventoriable costs; they are the product costs and must be matched
against the revenue of the year in which sales are made is
Select one:
a. None of these
b. Absorption cost
c. Fixed cost
d. Variable cost
 

Started on Thursday, 12 November 2020, 1:05 PM

State Finished
Completed on Thursday, 12 November 2020, 1:36 PM
Grade 15.00 out of 15.00 (100%)
Question 1
Complete
The substance from which the product is made is known as material and all the materials which become an integral part of the nished
product and which can be conveniently assigned to speci c physical units are called as
Select one:
a. Indirect Material
b. Labour
c. None of these
d. Direct material

Question 2
Complete
Select one:
a. Constant
b. Relevant
c. None of these
d. Irrelevant
Question 3
Complete

Incremental or di erential costs are useful in planning and decision-making and provide a device for testing the pro tability of increased
output, and give a better measure than the
Select one:
a. Average Cost
b. Sunk Cost
c. Additional cost
d. None of these
Question 4
Complete
The Pearl Merchandise Company has budgeted Rs 40,000 in sales for the month of December. The company’s cost of goods sold is 30% of
sales. If the company has budgeted to purchase Rs 18,000 in merchandise during December, then the budgeted change in inventory levels
over the month of December is:
Select one:
b. Rs 22,000 Decrease
d. Rs 10,000 Increase
Question 5
Complete

. The following is considered relevant cost under variable costing.
Select one:
a. All of these
b. Direct expense
c. Direct material cost
d. Direct labour cost
Question 6
Complete
Direct Human e orts, both physical and mental, used for conversion of materials into nished products is
Select one:
a. Production
b. Work
c. None of these
d. Labour
Question 7
Complete

The monetary bene ts that would accrue from taking the alternative course are sacri ced and these bene ts, if measurable, should be
added to the costs of the
Select one:
a. Decision
b. Time
c. All of these
d. Money
Question 8
Complete
________ costs have been incurred by a decision that was made in the past and cannot be changed by any decision that would be made in
the future.
Select one:
a. Budgeted cost
b. Targeted cost
c. Sunk cost
d. None of these
Question 9
Complete

Select one:
a. Goals
b. Objectives
c. All of these
d. Strategies
Question 10
Complete
The contribution margin ratio is 25% for Crowne Company and the break-even point in sales is Rs 200,000. If Crowne Company’s target
operating pro t is Rs 60,000, sales would have to be:
Select one:
a. Rs 240000
b. Rs 440000
c. Rs 260,000
d. Rs 280000
Question 11
Complete

If the total inspection cost is Rs 10 lacs and number of inspections done during the year are 10000, what will be the overhead cost for a
product which requires 5 inspections
Select one:
a. 500
b. 20
c. 10000
d. 100
Question 12
Complete
Activity cost drivers are measures that identify the following:
Select one:
a. All of these
b. Cost objects
c. Linkage between activities and cost objects
d. They serve as quantitative measures of the resources
Question 13
Complete

_________ cost is the amount of bene ts foregone from the second-best alternative decision/action.
Select one:
a. Indirect
b. Sunk
c. Direct
d. Opportunity
Question 14
Complete
The costing indicates that the manufacturing xed overheads are inventoriable costs; they are the product costs and must be matched
against the revenue of the year in which sales are made is
Select one:
a. None of these
b. Fixed cost
c. Absorption cost
d. Variable cost
Question 15
Complete

If xed cost is Rs 5000 and units produced in a year are 1000, then how much xed cost will be charged to product in case of variable
costing?
Select one:
a. Rs 5000
b. Rs 60
c. Rs 5
d. Rs 0
Question 16
Complete
It is a system based on activities linking spending on resources to the products/services produced or delivered to customers.
Select one:
a. None of these
b. Activity based cost
c. Activity rate cost
d. Activity cost driver rate
Question 17
Complete

Margin of ________ is the excess of actual sales revenue over the break-even sales revenue
Select one:
a. Safety
b. Hazards
c. None of these
d. Quality
Question 18
Complete
Select one:
a. Direct
b. Di erential
c. Indirect
d. Variable
Question 19
Complete

Indirect Labour Cost cannot be conveniently traced to a speci c unit of product /output and includes
Select one:
a. Directors’ and salesmen salary
b. All of these
c. Wages of storekeepers
d. Foremen, time-keepers
Question 20
Complete
Select one:
a. None of these
b. Duration
c. Transaction
d. Intensity
Question 21
Complete

It is the cost of materials which cannot be conveniently assigned to a speci c physical unit of production.
Select one:
a. Direct material cost
b. Indirect material cost
c. None of these
d. Indirect expenses Cost
Question 22
Complete
The ____________ costs which would change as a result of the decision under consideration, whereas irrelevant costs are those which would
remain una ected by the decision and therefore, only these costs would be included in the analytical framework.
Select one:
a. Incremental cost
b. Relevant costs
c. None of these
d. Irrelevant costs
Question 23
Complete

A cost-pro t analysis shows the relationship among the various ingredients of pro t planning, namely, unit sale price, variable cost, sales
volume, sales mix and xed cost is
Select one:
a. None of these
b. Cost-Weight-Pro t Analysis
c. Cost-Volume-Pro t Analysis
d. Quantity-Volume-Pro t Analysis
Question 24
Complete
Financial budgets are concerned with expected cash receipts or disbursements, nancial position and results of operations and in other
words, a nancial budget has the following components:
Select one:
a. Cash budget
b. All of these
c. Budgeted income statement
d. Budgeted statement of retained earnings
Question 25
Complete

Zero base budgeting (ZBB) can be de ned as
Select one:
a. It is a management process that provides for systematic consideration of all programs.
b. All of these
c. Justi cation of each program
d. A tool for e cient use of resources
Question 26
Complete
There are three di erent types of cost behaviours which can be visualised with changes in volume or level of activity:
Select one:
a. Fixed costs
b. Variable costs
c. Mixed costs
d. All of these
Question 27
Complete

Select one:
a. Opportunity cost
b. Fixed cost
d. Contingent cost
Question 28
Complete
A _______ break-even point is total cash xed cost divided by contribution margin per unit.
Select one:
a. None of these
b. Pro t
c. Loss
d. Cash
Question 29
Complete

Select one:
a. Fixed
b. Variable
c. None of these
d. Invariable
Question 30
Complete
Cost which can be identi ed with goods produced or purchased for resale is named as
Select one:
a. Expired Cost
b. Product Cost
c. Unexpired Cost
d. Period Cost
 

Started on Monday, 19 July 2021, 2:22 PM
State Finished
Completed on Monday, 19 July 2021, 2:40 PM
Grade 15.00 out of 15.00 (100%)
Question 1
5 steps that need to be followed in revenue recognition: 1. Identify the contracts 2. Identify the performance obligations 3.
Complete Determine the transaction price 4. Allocate the transaction price 5. _______________
Mark 0.50 out
of 0.50 Select one:
b. Complete The Contract
c. Recognise Revenue When (Or As) The Entity Satisfies A Performance Objective.
Question 2 Out of the fund flow statement and cash flow statement which one is a broader concept: -

Complete
Mark 0.50 out Select one:
of 0.50
c. Cash Budget
Question 3 If net profit margin is 10.50%, asset turnover is 0.80 and debt to asset ratio is 0.70 then what is the return on net worth ?
Complete
of 0.50
a. 32%
b. 28%
c. 22%
d. 15%
Question 4 The statement of only parent firm without including the subsidiary statements are known as_____
Complete
of 0.50
Question 5 What is revenue?

Complete
of 0.50
a. The Amount Of Money Owed To A Business By Its Customers
b. The Amount Of Money A Business Earns From Selling Its Goods And Services
d. The Amount Spent By A Business To Sell Its Goods And Services 
Question 6 Amount set aside to meet the losses is a
Complete
of 0.50
a. Loans
b. Liability
c. Profit
d. Reserve
Question 7 Which of the following statement is true about Ratio Analysis?
Complete
of 0.50
a. Ratio Analysis Does Not Assist In Comparative Analysis.
b. Ratio Analysis Does Not Helps In Identification Of Attention-Seeking Domains.
c. Ratio Analysis Helps In Data Simplification And Association.
d. Ratio Analysis Does Not Helps In Facilitating Trend Analysis.
Question 8 Which of the following statements are true? A) Financial statements are only interim report.B) Financial statements are also
Complete known as annual recordsC) Financial statements are historic
Mark 0.50 out
of 0.50 Select one:
a. Option B & C
b. Option A
c. Option B 
d. Option A & B
Question 9 What is the accrual basis of accounting?

Complete
of 0.50
b. Recognition Of Revenue In The Accounting Period When The Sale Is Made Rather Than When Cash Is Received
c. Matching Expenses With Revenue In The Appropriate Accounting Period.
Question 10 The profit and loss account format as per Companies Act 2013 is given Schedule-
Complete
of 0.50
a. Iii
b. Vii
c. Iv
d. Vi
Question 11 The purpose of directors responsibility statement is to give an assurance to stakeholders that
Complete
of 0.50
a. All Of These
b. Internal Controls Are In Place
d. Relevant Accountant Standards And Policies Have Been Followed 
Question 12 The primary objective of high quality financial reporting is presenting information about_________
Complete
of 0.50
a. Social Benefits
b. All Of The Above
c. Environmental Issues
d. Monetary Units
Question 13 FTL Ltd. reported profit of 10 lakhs for 2019 and cash balance decreased by 2,40,000. Which financial statement should
Complete investors of FTL Ltd. refer to for an understanding of situation?
Mark 0.50 out
of 0.50 Select one:
a. Director’S Responsibility Statement
b. Balance Sheet
c. Profit And Loss Account
Question 14 All the assets that an entity controls are recognised in the ………...….
Complete
of 0.50
a. Financial Statement
b. Accounting Book
c. Profit & Loss Statement 
d. Balance Sheet
Question 15 If a firm have a current ratio of 1, then its net working capital will be
Complete
of 0.50
a. Negative
b. Same
c. Zero
d. Positive
Question 16 Compute the working capital turnover ratio if, Current assets is Rs 1,60,000, current liabilities is Rs 80,000 and Cost of goods sold
Complete is Rs 3,50,000.
Mark 0.50 out
of 0.50 Select one:
a. 2.56
b. 4.38
c. 4.5
d. 2.89
Question 17 State which of the following statement is true:

Complete
of 0.50
a. Internal Auditor May Be Or May Not Be A Practicing Company Secretary Or Cost Accountant
c. Internal Auditor May Be Or May Not Be A Practicing Chartered Accountant Or Cost Accountant 
d. Internal Auditor Must Be A Practicing Chartered Accountant Or Cost Accountant
Question 18 The Companies Act, 2013 requires all the------- companies to appoint an internal auditor
Complete
of 0.50
a. All Of These
b. Private Companies
c. Unlisted Companies
d. Listed Companies
Question 19 One of the example of influenced accounting problems is:
Complete
of 0.50
a. Categorizing Non-Operating Revenue/Income As Non- Operating.
d. Aggressive Revenue Identification.
Question 20 The quality of financial statements is majorly determined by:

Complete
of 0.50
a. Balance Sheet Quality
c. All Of The Above
d. Earnings Quality 
Question 21 For companies registered under companies act 2013 statuary audit is performed by:
Complete
of 0.50
a. Company Secretary
b. Cost Accountant
d. Any Of These
Question 22 What is the statement of stockholder’s equity?
Complete
of 0.50
a. It Is A Statement That Reconciles Only The Treasury Stock Account
b. It Is A Statement That Lists The Causes Of Changes In The Stockholder’S Equity During The Financial Year
c. It Is A Statement Reconciling The Difference Between Stock Issued At Par Value And Stock Issued At Market Value
d. It Is The Same As A Retained Earnings Statement
Question 23 Which of the following item are not a part of current assets in a firm?
Complete
of 0.50
a. Prepaid Expenses
d. Inventory 
Question 24 Primary objective of cash flow statement is to provide information about:
Complete
of 0.50
b. Cash Flow Position Of The Company
c. All Of These
d. Future Plans Of Company
Question 25 The prime accountability of the financial statements being a fair and true representation of the financial health of the firm lies
Complete with the:
Mark 0.50 out
of 0.50 Select one:
a. Chief Accountant
b. Human Resource Manager
d. Supervisor
Question 26 Under indirect method how will the changes in accounts receivables are reflected?
Complete
of 0.50
b. Adjustment To Sales
c. Adjustment To Net Income 
Question 27 It is usual for a retail shop to recognise revenue when:

Complete
of 0.50
a. The Goods For Sale Have Arrived From The Supplier
b. The Customer Pays For The Goods Sold
c. The Goods Have Been Delivered To The Customers’ Premises
d. The Customer Becomes Legally Obliged To Pay For The Goods
Question 28 The TV manufacturing Factory sells 5,000 TV on credit. They have shipped the TV but have not collected payment. Can the TV
Complete Factory recognize the revenue?
Mark 0.50 out
of 0.50 Select one:
a. Yes, The Revenue Is Realized
b. Yes, The Revenue Is Realizable
c. No, The Revenue Was Not Received
d. No, The Revenue Must Be In Cash
Question 29 Misclassification of revenue expense as a capital expense leads to:

Complete
of 0.50
a. Leads To Increase In Inventory Turnover Ratio.
c. An Increase In Expenses And A Decrease In Profits. 
d. Decrease In Expenses And An Increase In Profits.
Question 30 The Accounting Standards Board was set up by

Complete
of 0.50
c. Reserve Bank Of India
PREVIOUS ACTIVITY NEXT ACTIVITY

 E-book Assignment - 2 

Started on Friday, 9 July 2021, 1:37 PM

State Finished
Completed on Friday, 9 July 2021, 2:25 PM
Grade 12.00 out of 15.00 (80%)
Question 1
Complete
Choices made by economic decision makers
Select one:
a. Are The Primary Focus Of Economics
b. Do Not Involve Ordinary Citizens
c. Occur Infrequently

d. Are Government Decisions Only
Question 2
Complete
The law of demand is illustrated by a demand curve that is
Select one:
a. None Of These
b. Downward Sloping To The Right
c. Downward Sloping And Convex To Origin
d. Downward Sloping And Concave To Origin
Question 3
Complete 
Perfectly competitive firms respond to changing market conditions by varying their
Select one:
a. Market Share
b. Price
c. Information
d. Output
Question 4
Complete
Which of the following statements about the substitution effect of a price change is true?
Select one:
a. It Is Caused By A Change In Relative Prices.
b. It Assumes That The Consumer Substitutes More Expensive Goods For Cheaper Ones When Income Increases.
c. It Affects The Consumer's Ability, Rather Than Willingness, To Purchase A Good.
d. It Is Usually Equal To The Income Effect.
Question 5
Complete 
Which of the following is a short-run adjustment?
Select one:
a. Tata Motors Builds An Automobile Assembly Plant In Pune.
b. Faced With Increasing Enrollment, A Private College Builds A New School Of Business Building.
c. Because Of Staggering Losses, Three Insurance Companies Exit The Industry.
d. People's Bank Hires Two New Tellers To Meet Increased Demand For Customer Services.
Question 6
Complete
The law of demand says that the lower the price of a good, other things constant,
Select one:
a. The Smaller The Demand For That Good
b. The Smaller The Quantity Demanded Of That Good
c. The Larger The Quantity Demanded Of That Good
d. The Larger The Demand For That Good
Question 7
Complete 
Marginal product is defined as
Select one:
a. The Increase In Revenue That Occurs When An Additional Unit Of A Resource Is Added
b. The Amount Of Additional Resources Needed To Increase Output By One Unit When All Resources Are Increased By The Same
Amount
c. The Increase In Output That Occurs When All Resources Are Increased By The Same Proportion
d. The Increase In Output That Occurs When An Additional Unit Of A Resource Is Added, Holding All Other Resources Constant
Question 8
Complete
Explicit costs are
Select one:
a. Exactly The Same As Implicit Costs
b. Not Part Of Opportunity Cost
c. Only Cost Considered In Opportunity Cost
d. Actual Monetary Payments For Resources Purchased
Question 9
Complete 
The demand curve for a good that has many perfect substitutes in consumption is likely to be
Select one:
a. Horizontal
b. Upward Sloping
c. Steep
d. Highly Inelastic
Question 10
Complete
In economics, capital is defined as
Select one:
a. The Natural, Unskilled Abilities Of People
b. Natural Resources, Such As Water, Oil, And Iron Ore
c. Human Creations Used In The Production Process
d. Money And Other Financial Assets
Question 11
Complete 
Which of the following is most likely to be an inferior good?
Select one:
a. Soft Drinks
b. Airline Travel
c. Restaurant Meals
d. Used Clothings
Question 12
Complete
One likely result of monopoly power is
Select one:
a. A Higher Price Than Would Exist In A Competitive Industry
b. A Decline In Government Regulation
c. A Wide Variety Of Substitute Products From Which Consumers Can Choose
d. An Elimination Of Barriers To Industry Entry
Question 13
Complete 
Which of the following is most likely to be a fixed resource for Ramprasad's Country Fresh Pies, Inc.?
Select one:
a. Chocolate Powder
b. Flour
c. Ovens
d. Baker
Question 14
Complete
The demand curve facing a perfectly competitive firm is
Select one:
a. Perfectly Elastic
b. Identical To The Industry Demand Curve
c. Perfectly Inelastic
d. Unit Elastic
Question 15
Complete 
Benares city has abundant supply of water. However, an economist would consider it a scarce resource because
Select one:
a. Water Pollution Will Eventually Make It Of No Use To The Human Life
b. Water Is Limited Relative To People's Unlimited Wants
c. Water Commands A Very High Price
d. Water Is Necessary For Humans' Physical Survival
Question 16
Complete
Economics is best defined as the study of how
Select one:
a. Individuals Decide To Use Scarce Resources In An Attempt To Satisfy Their Unlimited Wants
b. To Make Money
c. The Government Should Deal With Unemployment And Inflation
d. To Eliminate The Problem Of Scarce Resources
Question 17
Complete 
The opportunity cost of a resource
Select one:
a. Includes Both Explicit And Implicit Cost
b. Is Equal To The Market Price Of The Resource
c. Includes Implicit Cost Only
d. Includes Explicit Cost Only
Question 18
Complete
If variable cost rises from Rs.60 to Rs.100 as output increases from 15 to 20 units, the marginal cost of the twentieth unit
Select one:
a. Is Rs.100
b. Is Rs. 40
c. Is Rs. 5
d. Is Rs. 8
Question 19
Complete 
Unlike a "service," a "good"
Select one:
a. Uses Resources To Satisfy Wants
b. Is A Resource
c. Is Desirable
d. Is Physical And Tangible
Question 20
Complete
Which of the following markets best approximates the perfectly competitive market structure?
Select one:
a. Insurance
b. Airlines
c. Automobile Manufacturing
d. World Commodity Markets
Question 21
Complete 
At the point where diminishing marginal returns set in, the slope of the total product curve is
Select one:
a. Positive And Decreasing
b. Negative And Increasing
c. Positive And Increasing
d. Negative And Decreasing
Question 22
Complete
Demand for a good will be elastic when
Select one:
a. The Time Period Is Relatively Short
b. The Good Is Considered A Necessity
c. The Time Period Is Relatively Long
d. There Are Few Substitutes
Question 23
Complete 
The effect of a decrease in the price of personal computers, other things constant, is likely to be best represented by which of the following?
Select one:
a. A Downward Movement On The Demand Curve
b. An Upward Movement On The Demand Curve
c. A Leftward Shift Of The Demand Curve
d. A Rightward Shift Of The Demand Curve
Question 24
Complete
Which of the following is true in the short run at the output level where average total cost is at its minimum?
Select one:
a. Marginal Cost Equals Average Variable Cost.
b. Marginal Cost Equals Average Total Cost.
c. Average Total Cost Equals Average Fixed Cost.
d. Average Variable Cost Equals Fixed Cost.
Question 25
Complete 
If a firm ABX raises the price of its product, its total revenue will
Select one:
a. Always Increase
b. Increase Only If Demand Is Price Inelastic
c. Increase Only If Demand Is Price Elastic
d. Remain Constant, Regardless Of Change In Price
Question 26
Complete
As a monopolist increases the quantity of output produced, what happens to price (P) and marginal revenue (MR)?
Select one:
a. Both P And Mr Remain Constant
b. P Is Constant, But Mr Decreases
c. Both P And Mr Decrease, But Mr Falls Faster Than P
d. P Decreases, But Mr Is Constant
Question 27
Complete 
If we say that demand has increased, we mean that there has been
Select one:
a. A Leftward Movement Along The Demand Curve
b. A Rightward Movement Along The Demand Curve
c. A Rightward Shift Of The Demand Curve
d. A Leftward Shift Of The Demand Curve
Question 28
Complete
The respective payments for the resources of natural resources, labor, capital, and entrepreneurial ability are
Select one:
a. Interest, Wages, Profit, And Rent
b. Rent, Wages, Interest, And Profit
c. Profit, Rent, Interest, And Wages
d. Interest, Profit, Wages, And Rent
Question 29
Complete 
If a 5% increase in price of cars leads to an 8% decrease in quantity demanded, the demand for cars is
Select one:
a. Elastic
b. Inelastic
c. Perfectly Elastic
d. Unit Elastic
Question 30
Complete
Economics is the study of
Select one:
a. How Individuals And Nations Deal With The Problem Of Scarcity
b. How Individuals Amass Personal Fortunes In The Stock Market
c. Role That Money Plays In The Economy
d. How The Human Race Differs From Other Species
  
Started on Wednesday, 16 June 2021, 7:23 PM
State Finished
Completed on Wednesday, 16 June 2021, 8:05 PM
Grade 14.00 out of 15.00 (93%)
Question 1
Complete
Remove flag
Question text

Select one:
b. Accuracy Of Using The Monetary Reports To Inform About Predicted Cashflows To
Stakeholders.
c. Both A And B.
Question 2
Complete
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The following information is extracted from the financial statement of KTS Ltd.: Cost of goods
sold Rs. 25,00,000 Sales Rs. 50,00,000 Average accounts receivable Rs. 4,00,000 Average
inventory Rs. 15,00,000 Average assets Rs. 50,00,000 Net profit Rs. 10,00,000. The accounts
Select one:
b. 12.5 Times, 1.67 Times, 1 Times
Question 3
Complete
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Select one:
a. Earnings Quality
c. Balance Sheet Quality
d. All Of The Above
Question 4
Complete
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The capital structure of AB Ltd. is as follows: 9% preference shares of Rs. 10 each Rs. 3,00,000
Equity shares of Rs. 10 each Rs. 8,00,000. The following further information is available: Profit
after tax Rs. 2,70,000 Equity dividend paid 0% Market price of equity shares Rs.40 each. From
Select one:
a. 0
b. Rs. 3.12, 10.80
c. Rs. 3.04, 13.16
d. Rs. 3.33, 10.34
Question 5
Complete
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Select one:
a. Any Of These
d. Cost Accountant
Question 6
Complete
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5 steps that need to be followed in revenue recognition: 1. Identify the contracts 2. Identify the
performance obligations 3. Determine the transaction price 4. Allocate the transaction price 5.
_______________
Select one:
Question 7
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Select one:
a. Cash Budget
Question 8
Complete
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Select one:
a. Cash Outflow To Shareholders As Dividends.
c. Cash Outflow To Purchase Bonds Issued By Another Company
d. Cash Inflow From Sale Of Investments
Question 9
Complete
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The statement of only parent firm without including the subsidiary statements are known
as_____
Select one:
Question 10
Complete
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For Ramesha Industries some details are furnished below.Inventory is Rs.90,000,Prepaid

expenses Rs. 25,000, Quick ratio 2.5 to 1 and current liabilities Rs. 60,000. The current ratio
is______________
Select one:
a. 3.16
b. 5.2
c. 4.10
d. 4.42
Question 11
Complete
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Select one:
b. All Of These
c. Relevant Accountant Standards And Policies Have Been Followed
Question 12
Not answered
Marked out of 0.50
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Question 13
Complete
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Select one:
a. All Of These.
d. Cash Inflow From Interest Income.
Question 14
Complete
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If net profit margin is 10.50%, asset turnover is 0.80 and debt to asset ratio is 0.70 then what is
the return on net worth ?
Select one:
a. 15%
b. 22%
c. 28%
d. 32%
Question 15
Complete
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Select one:
b. Comptroller And Auditor General Of India
Question 16
Complete
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Select one:
c. Revenue Must Be Recorded When It Is Earned
Question 17
Complete
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Select one:
a. Cash From Operations Is Equal To Net Profit Adjusted For Non-Cash, Items And
Adjustment For Working Capital Changes.
d. Cash From Operations Is Equal To Net Profit Plus Debtors Outstanding At The Beginning
Of The Accounting Year
Question 18
Complete
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Select one:
c. Operating Results For A Period
d. C. Financing And Investment Activities For A Period
Question 19
Complete
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The prime accountability of the financial statements being a fair and true representation of the
financial health of the firm lies with the:
Select one:
a. Supervisor
c. Human Resource Manager
d. Chief Accountant
Question 20
Complete
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The terms ‘………...….’ is used in the context of PP&E and the term '………...….' is used in the
context of intangible assets.
Select one:
a. Amortisation, Depletion
Question 21
Complete
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………...…. reduces the value of property, plant, and equipment on the balance sheet as the
value of assets is lowered over time due to wear and tear and the reduction of their useful life.
Select one:
a. Amortisation
b. Expenses
c. Tax
d. Depreciation
Question 22
Complete
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The process of recognizing the strengths and weaknesses of the firm by establishing the
relationship among various items of Balance Sheet and Income Statement is termed as
Select one:
c. Financial Statement Analysis
d. Cost Accounting
Question 23
Complete
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Select one:
a. Both A And B.
c. Correct Provisioning Of Certain Expenses.
d. Correct Measurement Of Revenue.
Question 24
Complete
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Select one:
a. Negative
b. Zero
c. Positive
d. Same
Question 25
Complete
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Select one:
Question 26
Complete
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Compute the working capital turnover ratio if, Current assets is Rs 1,60,000, current liabilities is
Rs 80,000 and Cost of goods sold is Rs 3,50,000.
Select one:
a. 2.56
b. 4.5
c. 2.89
d. 4.38
Question 27
Complete
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Select one:
a. Investments
b. Share Capital
c. Non Current Assets
Question 28
Complete
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Question 29
Complete
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Holiday Ltd. Posted a net loss of 50,000 for 2019, while reporting the increase in cash balance.
As an investor you should refer to ------ for enhanced understanding.
Select one:
c. Balance Sheet
Question 30
Complete
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Question text
FTL Ltd. reported profit of 10 lakhs for 2019 and cash balance decreased by 2,40,000. Which
financial statement should investors of FTL Ltd. refer to for an understanding of situation?
Select one:
b. Director’S Responsibility Statement
d. Balance Sheet
Started on Tuesday, 15 June 2021, 9:44 PM
State Finished
Completed on Tuesday, 15 June 2021, 10:22 PM
Grade 14.00 out of 15.00 (93%)
Question 1
Complete
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Plant utilization budget and Manufacturing overhead budgets are types of

Select one:
a. Cost Budget
c. Sales Budget
d. Production Budget
Question 2
Complete
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_____________ takes into account the notional cost that may be required to acquire a new
employee in place of the present one.
Select one:
a. Present Value Of Future Earnings Method
b. The Historical Cost Approach
c. The Opportunity Cost Approach
d. The Replacement Cost Approach
Question 3
Complete
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_______ is designed after assessment of the volume of output to be produced during budget
period.
Select one:
a. Cost Budget
b. Production Budget
c. Sales Budget
Question 4
Not answered
Marked out of 0.50
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Which of the following constitutes a significant proportion in the computation of total cost of a
product in steel industry?
Select one:
a. Material Cost
b. Process Control
c. Labour Cost
d. Direct Expenses
Question 5
Complete
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Non-recurring expenses like costs incurred on recruitment, training and development of human
resource are ___________in as per Historical Cost Model for HRA
Select one:
a. Expensed
b. Capitalized
c. Written Off
d. Set-Off Against Revenue
Question 6
Complete
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A mechanized firm produces Product X, Royalty paid on sales is Rs45,000 and design charges
paid for the product is Rs3500. Compute the Direct Expenses for the firm.
Select one:
a. 41500
b. Insufficient Information
c. 48500
d. 45000
Question 7
Complete
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Workers who leave the organization during a specific time period are taken into consideration for
calculating the labour turnover rate by____________
Select one:
a. None Of These
b. Separation Method
c. Replacement Method
d. Flux Method
Question 8
Complete
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What is the essential idea of costing concept?

Select one:
a. Cost Ascertainment.
b. Corporate Social Responsibility
c. Tax Compliance.
d. Financial Audit
Question 9
Complete
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Question text
XY ltd. uses activity-based costing for Product M and Product N. The total estimated overhead
cost for the parts administration activity pool was Rs.7,50,000 and the expected activity was
3000 part types. If Product N requires 1400 part types, the amount of overhead allocated to
product N for parts administration would be:
Select one:
a. Rs. 350000
b. Rs. 340000
c. Rs. 330000
d. Rs. 300000
Question 10
Complete
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The examples of GHG gases are_____

Select one:
a. Co2 And H2
b. Co2, Co And Methane
c. O2, Co2 And Co
d. O2 And Co2
Question 11
Complete
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Abacus Company uses activity-based costing and has the following activity cost pools and
estimated overhead cost for each pool: Machine related Rs3,00,000 Handling material
Rs.2,60,000 Processing purchase orders Rs.7,50,000 General factory Rs.6,00,000 The amount of
total estimated overhead is:
Select one:
a. 18,10,000
b. 19,12,000
c. 19,10,000
d. 18,20,000
Question 12
Complete
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While making make or buy decision under marginal costing, external purchase price of the
articles must be compared with:
Select one:
a. Its Variable Cost
b. Its Total Cost
c. Its Prime Cost
d. Its Fixed Cost
Question 13
Complete
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Which of the following is not a material pricing method?

Select one:
a. Lifo
b. Weighted Average
c. Fifo
d. Ved Analysis
Question 14
Complete
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In marginal costing stock of finished goods is valued at ------

Select one:
a. Lower Than The Value Under Absorption Costing
b. Same As Absorption Costing
c. None Of These
d. Higher Than The Value Under Absorption Costing
Question 15
Complete
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To find the break-even in Rupees, you have to divide the fixed cost by ____________?
Select one:
a. Contribution Margin
b. Contribution Margin Ratio
c. Variable Cost
d. Fixed Cost
Question 16
Complete
Remove flag
Question text

Select one:
a. Indirect
b. Differential
c. Direct
d. Variable
Question 17
Complete
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Which of the following is not a Material control technique?

Select one:
a. Maintaining Stores Ledger & Bin Card
b. Ved Analysis
c. Abc Analysis
d. Stock Level
Question 18
Complete
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A budgeting process which demands each manager to justify his entire budget in detail from
beginning is
Select one:
a. Functional Budget
c. Functional Budget
d. Zero Base Budgeting
Question 19
Complete
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A shop sells wedding dresses. The cost of each dress is comprised of the following: Selling price
of Rs.1,000 and variable (flexible) costs of Rs.400. Total fixed (capacity-related) cost for Shop is
Rs.90,000. What is the contribution margin per dress?
Select one:
a. 600
b. 60
c. 6600
d. 6000
Question 20
Complete
Remove flag
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Break-even analysis is also called

Select one:
a. Business Analysis
b. Margin Of Safety
c. Cvp Analysis
d. Unit Sales
Question 21
Complete
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Which of the following is a limitation of activity-based costing?

Select one:
a. The Benefits Obtained From Abc Might Not Justify The Costs.
b. To Estimate All Overhead Costs, Not Just Factory Overheads.
c. To Estimate Costs In Service Costing As In Product Costing.
d. To Estimate A More Precise Cost Per Unit.
Question 22
Complete
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As per ABC cost categorizations, building maintenance and safety are categorised as_______
Select one:
a. Facility-Level Costs.
b. Product-Level Costs.
c. Batch Level Costs.
d. Unit-Level Costs.
Question 23
Complete
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_________ cost is the amount of benefits foregone from the second-best alternative
decision/action.
Select one:
a. Sunk
b. Direct
c. Indirect
d. Opportunity
Question 24
Complete
Remove flag
Question text
Key factor is also called as:

Select one:
a. Governing Factors
b. All Of These
c. Restricting Factors
d. Limiting Factor
Question 25
Complete
Remove flag
Question text
_______ is prepared for single level of activity and single set of business conditions.
Select one:
a. Both A And B
b. Flexible Budget
c. Fixed Budget
Question 26
Complete
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Activity-based costing will provide better accuracy when allocating costs than a manufacturer's
machine hours when its products and customers are __________ diversified.
Select one:
a. Not Sufficient Information
b. More
c. Equally
d. Less
Question 27
Complete
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Output and sales 50,000 units with sale price of Rs. 15/unit. Material & Labour cost per unit Rs.7
& Variable Rs. 3/unit. Fixed Rs. 70,000 & Other fixed overheads Rs. 90,000. Calculate Net
income under Marginal costing?
Select one:
a. Rs. 90,000
b. Rs. 99,000
c. Rs. 1,10,000
d. Rs. 2,50,000
Question 28
Complete
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Marginal cost is the aggregate of prime cost and -----------------

Select one:
a. Variable Overheads
b. Contribution
c. Fixed Overheads
d. Work Cost
Question 29
Complete
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Question text
Following information is available of GGSS Ltd. for year ended Dec 2020: Sales (units) 1000
(Rs.3/ unit), Production (units) 1500, Variable manufacturing- Rs 800, Fixed manufacturing- Rs
600, Variable office expenses- Rs 900, Fixed office expenses- Rs 300, What will be amount of
profit earned during the year using the absorption costing technique?
Select one:
a. Rs. 1,900
b. Rs. 999
c. Rs. 967
d. 1167
Question 30
Complete
Flag question
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While preparing sales budget, which of the following factors are considered?
Select one:
a. Non-Operational Factors
b. Environmental Factors
c. Both Option 1 & 2

State Finished
Grade 14.00 out of 15.00 (93%)
Question 1
Complete
Select one:
a. Non Consolidated Financial Statements 
d. Standalone Financial Statement
Question 2
Complete
Select one:
a. Liability
b. Reserve
c. Loans
d. Profit
Question 3

Complete
Select one:
a. Adjustment To Sales
c. Can Be Adjusted In Any Statement
Question 4
Complete
Select one:
a. Decrease In Asset But No Change In Liability
b. Increases In Assets And Increases In Liabilities
c. Increases In Assets And Decreases In Liabilities
d. Increase In Asset But No Change In Liability
Question 5

Complete
Select one:
a. Amortisation, Depreciation
c. Depreciation, Amortisation
d. Amortisation, Depletion
Question 6
Complete
What is revenue?
Select one:
b. The Amount Of Money Owed To A Business By Its Customers
d. The Amount Of Money A Business Earns From Selling Its Goods And Services
Question 7

Complete
Select one:
a. The Income Tax Act, 1961
c. The Companies Act, 2013
d. All Of These
Question 8
Complete
Select one:
a. Earnings Quality
b. All Of The Above
c. Cashflows Quality
d. Balance Sheet Quality
Question 9

Complete
Select one:
a. Human Resource Manager
c. Chief Accountant
d. Supervisor
Question 10
Complete
Select one:
Question 11

Complete
Select one:
a. Cash Recoveries From A Loan
c. Cash Received From Selling A Piece Of Equipment
Question 12
Complete
Select one:
a. Financial Statement
b. Accounting Book
c. Profit & Loss Statement
d. Balance Sheet
Question 13

Complete
Select one:
a. All Of The Above
b. Social Benefits
c. Environmental Issues
d. Monetary Units
Question 14
Complete
Select one:
a. Assets + Liabilities = Stockholder’S Equity
b. Assets = Liabilities + Stockholder’S Equity
c. Revenues – Expenses = Net Income
d. Assets + Stockholder’S Equity = Liabilities
Question 15

Complete
Select one:
a. Cash From Operations Is Equal To Net Profit Minus Increase In Debtors
b. Cash From Operations Is Equal To Net Profit Plus Increase In Debtors And Creditors
c. Cash From Operations Is Equal To Net Profit Adjusted For Non-Cash, Items And Adjustment For Working Capital Changes.
d. Cash From Operations Is Equal To Net Profit Plus Debtors Outstanding At The Beginning Of The Accounting Year
Question 16
Complete
Select one:
a. A Decrease In Debt, Which Decreases Financial Results Quality.
c. A Lack Of Transparency, Which Decreases Financial Reporting Quality.
d. A Lack Of Unbiased Dimension, Which Decreases Financial Reporting Quality.
Question 17

Complete
Select one:
a. The Customer Becomes Legally Obliged To Pay For The Goods
b. The Customer Pays For The Goods Sold
c. The Goods For Sale Have Arrived From The Supplier
d. The Goods Have Been Delivered To The Customers’ Premises
Question 18
Complete
Select one:
d. Recognise Revenue When (Or As) The Entity Satisfies A Performance Objective.

Question 19
Complete
Select one:
a. Option B & C
b. Option A
c. Option A & B
d. Option B
Question 20
Complete
Select one:
a. 0
b. Rs. 3.33, 10.34
c. Rs. 3.12, 10.80
d. Rs. 3.04, 13.16

Question 21
Complete
Select one:
a. Internal Auditor May Be Or May Not Be A Practicing Chartered Accountant Or Cost Accountant
b. Internal Auditor May Be Or May Not Be A Practicing Company Secretary Or Cost Accountant
c. Internal Auditor Must Be A Practicing Chartered Accountant Or Cost Accountant
d. Internal Auditor Should Not Be A Practicing Chartered Accountant Or Cost Accountant
Question 22
Complete
Select one:
a. Dividends.
d. Depreciation.
Question 23

Complete
Select one:
b. Cash Budget
Question 24
Complete
Select one:
d. All Of These
Question 25

Complete
Which of the following item are not a part of current assets in a firm?
Select one:
a. Outstanding Expenses
b. Prepaid Expenses
d. Inventory
Question 26
Complete
The following information is extracted from the financial statement of KTS Ltd.: Cost of goods sold Rs. 25,00,000 Sales Rs. 50,00,000 Average
accounts receivable Rs. 4,00,000 Average inventory Rs. 15,00,000 Average assets Rs. 50,00,000 Net profit Rs. 10,00,000. The accounts
Select one:
d. 12.5 Times, 1.67 Times, 1 Times

Question 27
Complete
completed by a law firm in April. The client agreed to pay for the completed work in May and the law firm received payment in early June.
Select one:
a. June
b. April
c. March
d. May
Question 28
Complete
Select one:
c. Comptroller And Auditor General Of India
Question 29

Complete
Select one:
a. Both A And B.
b. Accuracy Of Using The Monetary Reports To Inform About Predicted Cashflows To Stakeholders.
c. How The Financial Reports Of A Firm Correspond Its Fundamental Social Position.
Question 30
Complete
FTL Ltd. reported profit of 10 lakhs for 2019 and cash balance decreased by 2,40,000. Which financial statement should investors of FTL Ltd.
Select one:
b. Balance Sheet

 

State Finished
Grade 6.00 out of 15.00 (40%)
Question 1
Complete
Select one:
c. Cost Accounting

Question 2
Complete
What does the income statement measure for a rm?
Select one:
a. The Financing And Investment Activities For A Period
b. The Changes In Assets And Liabilities That Occurred During The Period
c. The Financial Position Of A Firm For A Period.
d. The Results Of Operations For A Period
Question 3
Complete

Select one:
d. Decrease In Bank Borrowings.
Question 4
Complete
Select one:
a. It Is A Statement Reconciling The Di erence Between Stock Issued At Par Value And Stock Issued At Market Value
b. It Is A Statement That Reconciles Only The Treasury Stock Account
c. It Is The Same As A Retained Earnings Statement
Question 5
Complete

Select one:
c. Recognition Of Revenue In The Accounting Period When The Sale Is Made Rather Than When Cash Is Received
Question 6
Complete
Select one:
Question 7
Complete

Select one:
a. Cash Budget
Question 8
Complete
Select one:
b. Listed Companies
c. All Of These
d. Private Companies
Question 9
Complete

Select one:
a. Any Of These
b. Company Secretary
d. Cost Accountant
Question 10
Complete
Select one:
a. Going Concern Principle Being Followed In The Preparation Of Annual Accounts
c. Internal Controls Are In Place
d. All Of These
Question 11
Complete

Select one:
c. Decrease In Asset But No Change In Liability
Question 12
Complete
Select one:
a. Reserve
b. Liability
c. Loans
d. Pro t
Question 13
Complete

The measurement and timings error in nancial statements quality can be in the form of:
Select one:
c. Both A And B.
Question 14
Complete
Select one:
a. Measurement And Timing Problems.
b. Classi cation Problems.
c. All Of The Above.
Question 15
Complete

Select one:
b. All Of These.
c. Cash Out ow To Acquire Fixed Assets.
d. Cash In ow From Interest Income.
Question 16
Complete
Select one:
Question 17
Complete

Net Income is
Select one:
d. Total Revenue - Total Expense
Question 18
Complete
Select one:
a. Recognise Revenue When (Or As) The Entity Satis es A Performance Objective.
c. Pay The Transaction Price
Question 19
Complete

Select one:
a. Expenses
b. Amortisation
c. Tax
d. Depreciation
Question 20
Complete
Select one:
Question 21
Complete

Select one:
a. Cash Flow Position Of The Company
b. All Of These
Question 22
Complete
Select one:
a. Dividends.
b. Income Taxes Payments
c. Depreciation.
Question 23
Complete

Select one:
c. Assets + Liabilities = Stockholder’S Equity
Question 24
Complete
Select one:
Question 25
Complete

Select one:
a. 4.42
b. 5.2
c. 4.10
d. 3.16
Question 26
Complete
Select one:
Question 27
Complete

Select one:
a. Measurement Of Revenues As Operating And Non- Operating.
d. Aggressive Revenue Identi cation.
Question 28
Complete
Select one:
a. 22%
b. 28%
c. 32%
d. 15%
Question 29
Complete

Select one:
Question 30
Complete
Select one:
a. Option A & B
b. Option A
c. Option B & C
d. Option B
 


State Finished
Grade 6.00 out of 15.00 (40%)
Question 1
Complete
Select one:
c. Cost Accounting

Question 2
Complete
What does the income statement measure for a rm?
Select one:
a. The Financing And Investment Activities For A Period
b. The Changes In Assets And Liabilities That Occurred During The Period
c. The Financial Position Of A Firm For A Period.
d. The Results Of Operations For A Period
Question 3
Complete

Select one:
d. Decrease In Bank Borrowings.
Question 4
Complete
Select one:
a. It Is A Statement Reconciling The Di erence Between Stock Issued At Par Value And Stock Issued At Market Value
b. It Is A Statement That Reconciles Only The Treasury Stock Account
c. It Is The Same As A Retained Earnings Statement
Question 5
Complete

Select one:
c. Recognition Of Revenue In The Accounting Period When The Sale Is Made Rather Than When Cash Is Received
Question 6
Complete
Select one:
Question 7
Complete

Select one:
a. Cash Budget
Question 8
Complete
Select one:
b. Listed Companies
c. All Of These
d. Private Companies
Question 9
Complete

Select one:
a. Any Of These
b. Company Secretary
d. Cost Accountant
Question 10
Complete
Select one:
a. Going Concern Principle Being Followed In The Preparation Of Annual Accounts
c. Internal Controls Are In Place
d. All Of These
Question 11
Complete

Select one:
c. Decrease In Asset But No Change In Liability
Question 12
Complete
Select one:
a. Reserve
b. Liability
c. Loans
d. Pro t
Question 13
Complete

The measurement and timings error in nancial statements quality can be in the form of:
Select one:
c. Both A And B.
Question 14
Complete
Select one:
a. Measurement And Timing Problems.
b. Classi cation Problems.
Question 15
Complete

Select one:
b. All Of These.
c. Cash Out ow To Acquire Fixed Assets.
d. Cash In ow From Interest Income.
Question 16
Complete
Select one:
Question 17
Complete

Net Income is
Select one:
d. Total Revenue - Total Expense
Question 18
Complete
Select one:
a. Recognise Revenue When (Or As) The Entity Satis es A Performance Objective.
c. Pay The Transaction Price
Question 19
Complete

Select one:
a. Expenses
b. Amortisation
c. Tax
d. Depreciation
Question 20
Complete
Select one:
Question 21
Complete

Select one:
a. Cash Flow Position Of The Company
b. All Of These
Question 22
Complete
Select one:
a. Dividends.
b. Income Taxes Payments
c. Depreciation.
Question 23
Complete

Select one:
c. Assets + Liabilities = Stockholder’S Equity
Question 24
Complete
Select one:
Question 25
Complete

Select one:
a. 4.42
b. 5.2
c. 4.10
d. 3.16
Question 26
Complete
Select one:
Question 27
Complete

Select one:
a. Measurement Of Revenues As Operating And Non- Operating.
d. Aggressive Revenue Identi cation.
Question 28
Complete
Select one:
a. 22%
b. 28%
c. 32%
d. 15%
Question 29
Complete

Select one:
Question 30
Complete
Select one:
a. Option A & B
b. Option A
c. Option B & C
d. Option B
 


State Finished
Grade 14.50 out of 15.00 (97%)
Question 1
Complete
Select one:
a. 28%
b. 15%

c. 22%
d. 32%
Question 2
Complete
Select one:
Question 3

Complete
Select one:
Question 4
Complete
Select one:
a. 0
b. Rs. 3.12, 10.80
c. Rs. 3.04, 13.16
d. Rs. 3.33, 10.34

Question 5
Complete
Select one:
d. Balance Sheet
Question 6
Complete
Select one:
Question 7

Complete
Select one:
Question 8
Complete
Select one:
a. Accounting Book
d. Balance Sheet
Question 9

Complete
3,50,000.
Select one:
a. 4.38
b. 4.5
c. 2.89
d. 2.56
Question 10
Complete
Select one:
d. Cash Budget
Question 11

Complete
Select one:
Question 12
Complete
Select one:
c. Share Capital
d. Investments
Question 13

Complete
Select one:
c. Cost Accounting
Question 14
Complete
Select one:
Question 15

Complete
Select one:
Question 16
Complete
Net Income is
Select one:
Question 17

Complete
Select one:
a. Both A And C.
Question 18
Complete
Select one:
Question 19

Complete
Select one:
Question 20
Complete
Select one:
b. Listed Companies
d. All Of These
Question 21

Complete
Select one:
c. All Of These
Question 22
Complete
What is revenue?
Select one:
Question 23

Complete
Select one:
a. Same
b. Zero
c. Positive
d. Negative
Question 24
Complete
Select one:
Question 25

Complete
Select one:
a. Option A
b. Option B
c. Option A & B
d. Option B & C
Question 26
Complete
Select one:
Question 27

Complete
Select one:
Question 28
Complete
Select one:
a. Chief Accountant
b. Supervisor
Question 29

Complete
Select one:
a. Cash
b. Vehicle
c. Stock
d. Prepaid Expense
Question 30
Complete
Select one:

 

State Finished
Grade 14.50 out of 15.00 (97%)
Question 1
Complete
Select one:
a. 28%
b. 15%

c. 22%
d. 32%
Question 2
Complete
Select one:
Question 3

Complete
Select one:
Question 4
Complete
Select one:
a. 0
b. Rs. 3.12, 10.80
c. Rs. 3.04, 13.16
d. Rs. 3.33, 10.34

Question 5
Complete
Select one:
d. Balance Sheet
Question 6
Complete
Select one:
Question 7

Complete
Select one:
Question 8
Complete
Select one:
a. Accounting Book
d. Balance Sheet
Question 9

Complete
3,50,000.
Select one:
a. 4.38
b. 4.5
c. 2.89
d. 2.56
Question 10
Complete
Select one:
d. Cash Budget
Question 11

Complete
Select one:
Question 12
Complete
Select one:
c. Share Capital
d. Investments
Question 13

Complete
Select one:
c. Cost Accounting
Question 14
Complete
Select one:
Question 15

Complete
Select one:
Question 16
Complete
Net Income is
Select one:
Question 17

Complete
Select one:
a. Both A And C.
Question 18
Complete
Select one:
Question 19

Complete
Select one:
Question 20
Complete
Select one:
b. Listed Companies
d. All Of These
Question 21

Complete
Select one:
c. All Of These
Question 22
Complete
What is revenue?
Select one:
Question 23

Complete
Select one:
a. Same
b. Zero
c. Positive
d. Negative
Question 24
Complete
Select one:
Question 25

Complete
Select one:
a. Option A
b. Option B
c. Option A & B
d. Option B & C
Question 26
Complete
Select one:
Question 27

Complete
Select one:
Question 28
Complete
Select one:
a. Chief Accountant
b. Supervisor
Question 29

Complete
Select one:
a. Cash
b. Vehicle
c. Stock
d. Prepaid Expense
Question 30
Complete
Select one:

 
Started on Sunday, 11 July 2021, 6:42 PM
State Finished
Completed on Sunday, 11 July 2021, 7:11 PM
Grade 15.00 out of 15.00 (100%)
Question 1
Complete
The scare factors are also known as
Select one:
a. Linking Factor
b. Abnormal Factor
d. Key Factor

Question 2
Complete
Cost of any finished product can be calculated on the basis of
Select one:
a. All The Above
b. Tax Paid On The Final Product
c. Salary Paid To The Employees
d. Cost Of Material
Question 3
Complete

The cost which refers to the value of what you have to give up in order to choose something elseis called as?
Select one:
a. Differential Costs
b. Opportunity Costs
c. Avoidable Costs
d. Sunk Costs
Question 4
Complete
A mechanized firm produces Product X, Royalty paid on sales is Rs45,000 and design charges paid for the product is Rs3500. Compute the
Direct Expenses for the firm.
Select one:
a. 41500
b. 45000
c. Insufficient Information
d. 48500
Question 5
Complete

Which of the following cost should be considered for decision making
Select one:
a. Fixed Cost
b. Incremental Cost
c. Unavoidable Cost
d. Sunk Cost
Question 6
Complete
An increase in the variable cost-----------
Select one:
a. Increases Pv Ratio
b. Increases Contribution
c. Decreases Pv Ratio
d. Increases Profit
Question 7
Complete

Following information is available of GGSS Ltd. for year ended Dec 2020: Sales (units) 1000 (Rs.3/ unit), Production (units) 1500, Variable
manufacturing- Rs 800, Fixed manufacturing- Rs 600, Variable office expenses- Rs 900, Fixed office expenses- Rs 300, What will be amount of
Select one:
a. Rs. 967
b. 1167
c. Rs. 999
d. Rs. 1,900
Question 8
Complete
A budgeting process which demands each manager to justify his entire budget in detail from beginning is
Select one:
b. Functional Budget
c. Zero Base Budgeting
Question 9
Complete

Abacus Company uses activity-based costing and has the following activity cost pools and estimated overhead cost for each pool: Machine
related Rs3,00,000 Handling material Rs.2,60,000 Processing purchase orders Rs.7,50,000 General factory Rs.6,00,000 The amount of total
estimated overhead is:
Select one:
a. 18,20,000
b. 18,10,000
c. 19,12,000
d. 19,10,000
Question 10
Complete
Expenses in the form of salary, wages, fringe benefits, and other repeatitive expenses are classified as______ as per Historical Cost Model of
HRA
Select one:
a. Assets
b. Liabilitities
c. Capital Expense
d. Revenue Expense
Question 11
Complete

Select one:
a. Indirect
b. Differential
c. Variable
d. Direct
Question 12
Complete
A manufacturing firm of glass products produces on average profit of Rs. 2 per unit, selling at Rs. 12 per unit. The firm sells 50,000 units at
50% of potential capacity. The cost of sales is- Direct materials- Rs. 3.5/piece, Direct labour cost Rs. 1.5/piece, Factory expenses (variable)Rs.
2.5/piece, Selling expenses (variable) Rs. 0.30/piece, Total fixed cost is Rs. 1,00,000. It finds an offer for a further 30% of his capacity. What
minimum price you would endorse for acceptance to confirm a total profit of Rs. 2,00,000?
Select one:
a. Rs. 10
b. Rs. 11.27
c. Rs. 15
d. Rs. 10.80
Question 13 
Complete
While making make or buy decision under marginal costing, external purchase price of the articles must be compared with:
Select one:
b. Its Prime Cost
c. Its Fixed Cost
d. Its Total Cost
Question 14
Complete
Select one:
a. Constant
b. None Of These
c. Relevant
d. Irrelevant
Question 15
Complete

As per ABC cost categorizations, direct materials and direct labour are categorised as__________
Select one:
a. Batch Level Costs.
c. Facility-Level Costs.
Question 16
Complete
________ is stated as a budget which is made to change as per the levels of activity attained.
Select one:
a. Fixed Budget
b. Both A And B
c. Flexible Budget
Question 17
Complete

Select one:
a. Both Option 1 & 2
d. Non-Operational Factors
Question 18
Complete
The break-even point in units is represented by the equation?
Select one:
a. Fixed Costs / Contribution Per Unit
b. Fixed Costs / Variable Costs
c. Fixed Costs / Selling Price Per Unit
d. (Sales Revenue - Fixed Costs) / Contribution Per Unit
Question 19
Complete

When should a segment be dropped?
Select one:
a. Only When The Decrease In Total Contribution Margin Is Equal To Fixed Cost
b. Only When The Decrease In Total Contribution Margin Is Less Than The Decrease In Fixed Cost
c. Only When The Decrease In Total Contribution Margin Is Less Than The Decrease In Variable Cost
d. Only When The Decrease In Total Contribution Margin Is More Than The Decrease In Variable Cost
Question 20
Complete
___________ method of HRA recognizes an individual’s expected economic value to the enterprise during his remaining service period.
Select one:
a. The Replacement Cost Approach
b. Present Value Of Future Earnings Method
d. The Historical Cost Approach
Question 21
Complete

Overhead allocation by using ABC mostly leads to__
Select one:
a. Changes Overhead Costs From High-Volume Products To Low-Volume Products
b. Changes Overhead Costs From Low-Volume Products To High-Volume Products
c. Provides The Results Same As Traditional Costing
d. Needs A Predetermined Overhead Rate
Question 22
Complete
Select one:
a. Contribution
b. Variable Overheads
c. Fixed Overheads
d. Work Cost
Question 23
Complete

Select one:
a. Contribution Margin Ratio
b. Fixed Cost
c. Variable Cost
d. Contribution Margin
Question 24
Complete
Joint Implementation Programme as per Kyoto Protocol is applicable to _______
Select one:
a. Developing Countries
b. Developed Countries
c. Developing Countries With High Emission
d. Between Developed And Developing Countries
Question 25
Complete

Select one:
a. Fixed
b. Invariable
c. Variable
d. None Of These
Question 26
Complete
Select one:
a. Production Budget
b. Cost Budget
d. Sales Budget
Question 27
Complete

Cost which can be identified with goods produced or purchased for resale is named as
Select one:
a. Product Cost
b. Expired Cost
c. Unexpired Cost
d. Period Cost
Question 28
Complete
_________ cost is the amount of benefits foregone from the second-best alternative decision/action.
Select one:
a. Opportunity
b. Sunk
c. Indirect
d. Direct
Question 29
Complete

The process of material handling involves:
Select one:
a. Purchase & Receipts.
b. Storage Of Material
c. Issue Of Material
Question 30
Complete
Minimum level of stock is computed as:
Select one:
a. Maximum Consumption* Maximum Lead Time
b. Re-Order Level + Re-Order Quantity – (Minimum Usage * Minimum Lead Time)
c. Re-Order Level – (Average Usage * Average Lead Time)
d. Average Daily Usage * Lead Time Under Emergency Situations
 

Started on Monday, 5 July 2021, 12:05 AM

State Finished
Completed on Monday, 5 July 2021, 12:26 AM
Grade 14.00 out of 15.00 (93%)
Question 1
Complete
The type of cost which changes with the change in alternative course of decision/actions whereas irrelevant cost remains constant
across all the alternative course of decision/ actions
Select one:
a. None Of These
b. Irrelevant
c. Constant
d. Relevant

Question 2
Complete
Select one:
b. All Of The Above.
c. Storage Of Material
d. Issue Of Material
Question 3
Complete
A company has fixed costs of Rs. 50,000 and variable costs per unit of output of Rs. 8. If its sole product sells for Rs. 18, what is the

break-even quantity of output?
Select one:
a. 5500
b. 5000 
c. 3000
d. 300
Question 4
Complete
Select one:
a. Limiting Factor
b. Restricting Factors
c. All Of These.
d. Governing Factors
Question 5
Complete
Warehouse expense is a part of which cost/ overhead?


Select one:
a. Production Overhead
b. Distribution Overhead
c. Prime Cost 
d. Factory Overhead
Question 6
Complete
___________was signed in 2005 between 41 countries to control the GHG emission
Select one:
a. Gatt
b. Kyoto Protocol
c. Basel Accord
d. Non Proliferation Agreement
Question 7
Complete

Select one:
a. Invariable
b. None Of These
c. Fixed 
d. Variable
Question 8
Complete
Where key factor is present, from available alternatives, best project must be selected on the basis of
Select one:
a. Contribution Per Key Factor
b. Contribution Per Unit
c. Bep
d. Pv Ratio
Question 9
Complete
R&D budget and Capital expenditure budget are examples of


Select one:
a. Short-Term Budget
c. Current Budget 
d. Long-Term Budget
Question 10
Complete
___________ method of HRA recognizes an individual’s expected economic value to the enterprise during his remaining service
period.
Select one:
a. The Opportunity Cost Approach
c. The Historical Cost Approach
Question 11
Complete

Select one:
a. Key Factor
b. Abnormal Factor 
d. Linking Factor
Question 12
Complete
_____________ takes into account the notional cost that may be required to acquire a new employee in place of the present one.
Select one:
c. The Replacement Cost Approach
Question 13
Complete


Select one:
a. Cost Budget
d. Sales Budget
Question 14
Complete
Select one:
a. Sunk Costs
b. Differential Costs
c. Opportunity Costs
d. Avoidable Costs
Question 15
Complete


Select one:
a. Re-Order Level + Re-Order Quantity – (Minimum Usage * Minimum Lead Time)
b. Maximum Consumption* Maximum Lead Time
c. Re-Order Level – (Average Usage * Average Lead Time) 
Question 16
Complete
Workers who leave the organization during a specific time period are taken into consideration for calculating the labour turnover
rate by____________
Select one:
a. Separation Method
b. Replacement Method
c. None Of These
d. Flux Method
Question 17
Complete

Select one:
a. Its Fixed Cost
b. Its Prime Cost 
c. Its Total Cost
d. Its Variable Cost
Question 18
Complete
The cost which can be carried forward to next accounting period as part of inventory cost is called
Select one:
a. Unexpired Cost
b. Accrued Cost
c. Absorbed Cost
d. Expired Cost
Question 19
Complete
When sales are Rs.30000 and P/V ratio is 20% then contribution will be--------

Select one:
a. 6000
b. 4000
c. 2000 
d. 8000
Question 20
Complete
_______ is designed after assessment of the volume of output to be produced during budget period.
Select one:
a. Cost Budget
c. Sales Budget
Question 21
Complete


Select one:
a. Changes Overhead Costs From Low-Volume Products To High-Volume Products
b. Provides The Results Same As Traditional Costing
c. Changes Overhead Costs From High-Volume Products To Low-Volume Products 
Question 22
Complete
Select one:
b. Non-Operational Factors
c. Environmental Factors
d. Both Option 1 & 2
Question 23
Complete
__________ contains the picture of total plans during the budget period and it comprises information relating to sales, profit, cost,

production etc.
Select one:
a. Master Budget
b. Cost Budget 
Question 24
Complete
Select one:
a. Flexible Budget
b. Fixed Budget
c. Both A And B
Question 25
Complete
A shop sells wedding dresses. The cost of each dress is comprised of the following: Selling price of Rs.1,000 and variable (flexible)

costs of Rs.400. Total fixed (capacity-related) cost for Shop is Rs.90,000. What is the contribution margin per dress?
Select one:
a. 6600
b. 6000 
c. 600
d. 60
Question 26
Complete
A company's telephone bill consisting of a Rs. 200 monthly base amount, plus long distance charges, would be classified as a?
Select one:
a. Incremental Cost
b. Fixed Costs
c. Variable Cost
d. Mixed Cost
Question 27
Complete
As per CVP analysis, estimated sales for desired profit (in amount) is____________________?

Select one:
a. Vc+ Profit/Contribution Margin Ratio
b. Fc+ Profit/Contribution Margin Ratio
c. Fc+ Profit/Contribution Margin Per Unit 
d. Vc+ Profit/Contribution Margin
Question 28
Complete
Select one:
a. (Sales Revenue - Fixed Costs) / Contribution Per Unit
b. Fixed Costs / Contribution Per Unit
c. Fixed Costs / Variable Costs
d. Fixed Costs / Selling Price Per Unit
Question 29
Complete


Select one:
b. Increases Profit
c. Increases Contribution 
d. Decreases Pv Ratio
Question 30
Complete
Break even capacity----------------------?
Select one:
a. Breakeven Sales In Rupees/Normal Sales In Rupees
b. Normal Sales In Rupees/ Break Even Sales In Rupees
c. None Of Above
d. All Of Above
 

State Finished
Grade 15.00 out of 15.00 (100%)
Question 1
Complete
Select one:
b. Fixed Costs / Selling Price Per Unit

Question 2
Complete
Select one:
a. Cost Budget
b. Sales Budget
Question 3
Complete 
HRA
Select one:
a. Revenue Expense
b. Assets
c. Liabilitities
d. Capital Expense
Question 4
Complete
Select one:
c. Financial Audit
d. Tax Compliance.
Question 5
Complete 
Select one:
a. Same As Absorption Costing
b. Lower Than The Value Under Absorption Costing
c. Higher Than The Value Under Absorption Costing
d. None Of These
Question 6
Complete
When fixed cost is deducted from contribution, the balance will be--------
Select one:
a. Total Cost
b. Sales
c. Variable Cost
d. Profit
Question 7
Complete 
Select one:
a. Expired Cost
b. Absorbed Cost
c. Unexpired Cost
d. Accrued Cost
Question 8
Complete
Marginal cost is the ……….cost of producing an additional unit of output
Select one:
a. All Of These
b. Fixed
c. Variable
d. Semi Variable
Question 9
Complete 
A company has fixed costs of Rs. 50,000 and variable costs per unit of output of Rs. 8. If its sole product sells for Rs. 18, what is the break-
even quantity of output?
Select one:
a. 5000
b. 3000
c. 5500
d. 300
Question 10
Complete
Select one:
a. Unit-Level Costs.
b. Batch Level Costs.
d. Product-Level Costs.
Question 11
Complete 
Select one:
c. All Of These.
d. Limiting Factor
Question 12
Complete
Select one:
a. None Of Above
b. All Of Above
c. Normal Sales In Rupees/ Break Even Sales In Rupees
d. Breakeven Sales In Rupees/Normal Sales In Rupees
Question 13
Complete 
Select one:
c. Sales Budget
d. Cost Budget
Question 14
Complete
Select one:
b. Unit-Level Costs.
Question 15
Complete 
Select one:
b. Purchase & Receipts.
d. Storage Of Material
Question 16
Complete
Select one:
a. Variable Cost
b. Contribution Margin
c. Contribution Margin Ratio
d. Fixed Cost
Question 17
Complete 
Output and sales 50,000 units with sale price of Rs. 15/unit. Material & Labour cost per unit Rs.7 & Variable Rs. 3/unit. Fixed Rs. 70,000 &
Other fixed overheads Rs. 90,000. Calculate Net income under Marginal costing?
Select one:
a. Rs. 1,10,000
b. Rs. 90,000
c. Rs. 99,000
d. Rs. 2,50,000
Question 18
Complete
Select one:
b. Average Daily Usage * Lead Time Under Emergency Situations
c. Maximum Consumption* Maximum Lead Time
d. Re-Order Level – (Average Usage * Average Lead Time)
Question 19
Complete 
Select one:
a. Direct
b. Opportunity
c. Indirect
d. Sunk
Question 20
Complete
Select one:
a. Incremental Cost
b. Fixed Costs
c. Mixed Cost
d. Variable Cost
Question 21
Complete 
Shut down cost is:
Select one:
a. Unavoidable Variable Cost.
b. Avoidable Fixed Cost
c. Unavoidable Fixed Cost
d. Avoidable Variable Cost
Question 22
Complete
Select one:
a. Rs. 10.80
b. Rs. 15
c. Rs. 10
d. Rs. 11.27
Question 23
Complete
Non-recurring expenses like costs incurred on recruitment, training and development of human resource are ___________in as per Historical
Cost Model for HRA
Select one:
a. Capitalized
b. Set-Off Against Revenue
c. Expensed
d. Written Off
Question 24
Complete

The break-even point can be defined as?
Select one:
a. The Level Of Activity Where Variable Costs Are Covered By Sales Revenue
b. The Level Of Activity Where Profits Equal Fixed Costs
c. The Level Of Activity Where Cash Flow Is Zero
d. The Level Of Activity At Which There Is Neither Profit Nor Loss
Question 25
Complete
Select one:
a. Decreases Pv Ratio
c. Increases Profit
d. Increases Pv Ratio
Question 26
Complete 
__________ contains the picture of total plans during the budget period and it comprises information relating to sales, profit, cost, production
etc.
Select one:
b. Cost Budget
d. Master Budget
Question 27
Complete
The cost which can not be carried forward to next accounting period is called
Select one:
a. Absorbed Cost
b. Expired Cost
c. Unexpired Cost
d. Accrued Cost
Question 28
Complete 
The Countries which have signed Kyoto Protocol are called_____
Select one:
a. Annexured Countries
c. Green Countries
d. Non Annexured Countries
Question 29
Complete
Select one:
a. Unavoidable Cost
b. Incremental Cost
c. Fixed Cost
d. Sunk Cost
Question 30
Complete 
Select one:
a. Developing Countries With High Emission
c. Developing Countries
 
State Finished
Time taken 50 mins
Grade 13.00 out of 15.00 (87%)
Question 1
Complete
HRA
Select one:
a. Capital Expense
b. Liabilitities

c. Revenue Expense
d. Assets
Question 2
Complete
Select one:
a. Non Annexured Countries
c. Green Countries
d. Annexured Countries
Question 3
Complete 
Select one:
a. None Of Above
b. All Of Above
c. Breakeven Sales In Rupees/Normal Sales In Rupees
d. Normal Sales In Rupees/ Break Even Sales In Rupees
Question 4
Complete
Select one:
c. Product-Level Costs.
Question 5
Complete 
Select one:
a. To Estimate A More Precise Cost Per Unit.
b. To Estimate Costs In Service Costing As In Product Costing.
c. The Benefits Obtained From Abc Might Not Justify The Costs.
d. To Estimate All Overhead Costs, Not Just Factory Overheads.
Question 6
Complete
ABC helps managers make improved _________
Select one:
a. All Of The Above
b. Pricing Decisions
c. Profitability Decisions
d. Inventory Estimations
Question 7
Complete 
Select one:
d. Environmental Factors
Question 8
Complete
Select one:
a. Fixed Costs
b. Mixed Cost
c. Variable Cost
d. Incremental Cost

Question 9
Complete
Select one:
a. 41500
c. 48500
d. 45000

Question 10
Complete
Select one:
c. Increases Pv Ratio
d. Increases Profit
Question 11
Complete 
Select one:
a. Flexible Budget
b. Both A And B
c. Fixed Budget
Question 12
Complete
etc.
Select one:
a. Cost Budget
c. Master Budget
d. Functional Budget

Question 13
Complete
Select one:
d. Facility-Level Costs.
Question 14
Complete 
Select one:
b. Bep
c. Pv Ratio
d. Contribution Per Unit
Question 15
Complete
Selling and Distribution overhead is absorbed on the base of ____________________
Select one:
a. None Of These
b. Both A And B
c. Rate Per Unit
d. Percentage On The Factory Cost
Question 16
Complete 
Which of the following constitutes a significant proportion in the computation of total cost of a product in steel industry?
Select one:
a. Material Cost
b. Direct Expenses
c. Process Control
d. Labour Cost
Question 17
Complete
Select one:
a. 6000
b. 2000
c. 8000
d. 4000
Question 18
Complete 
Select one:
b. The Opportunity Cost Approach
Question 19
Complete
Select one:
a. Variable
b. Fixed
c. All Of These
d. Semi Variable
Question 20
Complete 
Select one:
a. Cost Budget
b. Sales Budget
c. Production Budget
Question 21
Complete
Select one:
a. Its Fixed Cost
b. Its Prime Cost
c. Its Variable Cost
d. Its Total Cost

Question 22
Complete
The expected overhead cost for Neel Construction ltd of a particular part cost pool was R.s.5,60,000 and the expected activity was 5,000
parts. The actual overhead cost for the cost pool was Rs.480,000 at an actual activity of 6,000 parts. The activity rate for that cost pool was:
Select one:
a. Rs80 Each Part
b. Rs93.33 Each Part
c. Rs112 Each Part
d. Rs96 Each Part

Question 23
Complete
Select one:
a. Rs. 11.27
b. Rs. 10.80
c. Rs. 10
d. Rs. 15

Question 24
Complete
Select one:
Question 25
Complete 
Select one:
a. Opportunity
b. Indirect
c. Sunk
d. Direct
Question 26
Complete
Select one:
a. Salary Paid To The Employees
c. All The Above
d. Cost Of Material

Question 27
Complete
If actual units produced are lower than the budgeted level of production which of the following types of cost would you expect to be lower
than the budget?
Select one:
a. Variable Costs Per Unit
b. None Of Above
c. Total Variable Costs
d. Total Fixed Costs

Question 28
Complete
Select one:
a. The Level Of Activity Where Profits Equal Fixed Costs
b. The Level Of Activity Where Cash Flow Is Zero
c. The Level Of Activity Where Variable Costs Are Covered By Sales Revenue

Question 29
Complete
A shop sells wedding dresses. The cost of each dress is comprised of the following: Selling price of Rs.1,000 and variable (flexible) costs of
Rs.400. Total fixed (capacity-related) cost for Shop is Rs.90,000. What is the contribution margin per dress?
Select one:
a. 600
b. 6600
c. 60
d. 6000

Question 30
Complete
Select one:
a. 1167
b. Rs. 999
c. Rs. 1,900
d. Rs. 967

 

State Finished
Grade 14.50 out of 15.00 (97%)
Question 1
Complete
Costs that do not change when the activity base fluctuates are known as?
Select one:
a. Variable Cost
b. Fixed Costs

c. Sunk Cost
d. Incremental Cost
Question 2
Complete
XY ltd. uses activity-based costing for Product M and Product N. The total estimated overhead cost for the parts administration activity pool
was Rs.7,50,000 and the expected activity was 3000 part types. If Product N requires 1400 part types, the amount of overhead allocated to
Select one:
a. Rs. 340000
b. Rs. 300000
c. Rs. 330000
d. Rs. 350000

Question 3
Complete
Select one:
c. None Of These
Question 4
Complete
Select one:
a. 19,12,000
b. 18,20,000
c. 19,10,000
d. 18,10,000

Question 5
Complete
Select one:
b. Abnormal Factor
c. Linking Factor
d. Key Factor
Question 6
Complete
Which of the following is one of the two approaches used to analyze data in the decision to keep or discontinue a segment?
Select one:
a. Comparing Contribution Margins And Variable Costs
b. Comparing Contribution Margins And Fixed Costs
c. Comparing Total Contribution Margin Under Each Alternative
d. Comparing Gross Margin And Variable Costs
Question 7

Complete
HRA
Select one:
a. Revenue Expense
b. Capital Expense
c. Liabilitities
d. Assets
Question 8
Complete
Select one:
a. Rate Per Unit
b. Both A And B
c. None Of These
Question 9

Complete
Select one:
c. Needs A Predetermined Overhead Rate
d. Changes Overhead Costs From High-Volume Products To Low-Volume Products
Question 10
Complete
Select one:
a. Fixed Budget
c. Both A And B
d. Flexible Budget
Question 11

Complete
Given sales = Rs.1,50,000, Fixed costs = Rs.30,000, Profit =Rs. 40,000. The variable cost is Rs………….
Select one:
a. 110000
b. 10000
c. 80000
d. 120000
Question 12
Complete
Select one:
a. Incremental Cost
b. Fixed Costs
c. Mixed Cost
d. Variable Cost
Question 13

Complete
Select one:
Question 14
Complete
Select one:
a. 8000
b. 2000
c. 6000
d. 4000
Question 15

Complete
Select one:
a. Only When The Decrease In Total Contribution Margin Is More Than The Decrease In Variable Cost
b. Only When The Decrease In Total Contribution Margin Is Less Than The Decrease In Variable Cost
c. Only When The Decrease In Total Contribution Margin Is Less Than The Decrease In Fixed Cost
d. Only When The Decrease In Total Contribution Margin Is Equal To Fixed Cost
Question 16
Complete
Select one:
a. Avoidable Costs
c. Differential Costs
d. Sunk Costs
Question 17

Complete
Select one:
a. Expired Cost
b. Unexpired Cost
c. Accrued Cost
d. Absorbed Cost
Question 18
Complete
________ is the first step of budgetary system and all other budgets depends on it.
Select one:
c. Sales Budget
d. Cost Budget
Question 19

Complete
The full form of GHG is______
Select one:
a. Green House Gases
b. Green House Group
c. Group Of Hydrogen Gases
d. Group Of Harmful Gases
Question 20
Complete
Select one:
Question 21

Complete
Select one:
a. Re-Order Level – (Average Usage * Average Lead Time)
c. Re-Order Level + Re-Order Quantity – (Minimum Usage * Minimum Lead Time)
Question 22
Complete
Select one:
a. Stock Level
b. Abc Analysis
c. Ved Analysis
d. Maintaining Stores Ledger & Bin Card
Question 23

Complete
Select one:
a. Rs80 Each Part
b. Rs112 Each Part
c. Rs93.33 Each Part
d. Rs96 Each Part
Question 24
Complete
Activity-based costing will provide better accuracy when allocating costs than a manufacturer's machine hours when its products and
customers are __________ diversified.
Select one:
a. Less
b. Equally
c. Not Sufficient Information
d. More

Question 25
Complete
Cost Model for HRA
Select one:
a. Set-Off Against Revenue
b. Expensed
c. Written Off
d. Capitalized
Question 26
Complete
Select one:
a. Profit
b. Variable Cost
c. Sales
d. Total Cost
Question 27

Complete
Select one:
a. To Estimate Costs In Service Costing As In Product Costing.
c. To Estimate A More Precise Cost Per Unit.
d. The Benefits Obtained From Abc Might Not Justify The Costs.
Question 28
Complete
Select one:
a. All Of These
b. Variable
c. Semi Variable
d. Fixed
Question 29

Complete
The cost that has been incurred in the past _____
Select one:
a. None Of These
b. Sunk
c. Direct
d. Indirect
Question 30
Complete
Select one:
a. O2, Co2 And Co
b. O2 And Co2
c. Co2, Co And Methane
d. Co2 And H2

 
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4. Assignment - 2

State Finished
Grade 13.50 out of 15.00 (90%)
Question 1
Complete
Not flaggedFlag question
Question text
The technique of marginal costing is based on classification of cost into ------

Select one:
a. Period And Product Cost
b. Variable And Semi-Variable Cost
c. None Of These
d. Fixed And Variable Cost
Question 2
Complete
Question text

Select one:
a. The Level Of Activity At Which There Is Neither Profit Nor Loss
b. The Level Of Activity Where Variable Costs Are Covered By Sales Revenue
d. The Level Of Activity Where Profits Equal Fixed Costs
Question 3
Complete


Question text
The process of budgeting helps in the control of

Select one:
a. All Of The Above
b. Liquidity
c. Cost Of Production
d. Capital Expenditure
Question 4
Complete
Question text

Select one:
a. Average Daily Usage * Lead Time Under Emergency Situations
d. Re-Order Level + Re-Order Quantity – (Minimum Usage * Minimum Lead Time)
Question 5
Complete
Question text

Select one:
d. None Of These
Question 6
Complete
Question text

Select one:
a. Financial Audit
c. Tax Compliance.
d. Cost Ascertainment.
Question 7
Complete
Question text
Select one:
b. Flexible Budget
c. Both A And B
d. Fixed Budget
Question 8
Not answered
Marked out of 0.50
Question text
The expected overhead cost for Neel Construction ltd of a particular part cost pool was R.s.5,60,000 and the
expected activity was 5,000 parts. The actual overhead cost for the cost pool was Rs.480,000 at an actual
activity of 6,000 parts. The activity rate for that cost pool was:
Select one:
a. Rs80 Each Part
b. Rs96 Each Part
d. Rs112 Each Part
Question 9
Complete
Question text
Select one:
a. Product-Level Costs.
d. Batch Level Costs.
Question 10
Complete
Question text
Shut down cost is:

Select one:
a. Avoidable Fixed Cost
b. Avoidable Variable Cost
c. Unavoidable Variable Cost.
d. Unavoidable Fixed Cost
Question 11
Complete
Question text
Activity-based costing will provide better accuracy when allocating costs than a manufacturer's machine
hours when its products and customers are __________ diversified.
Select one:
a. More
b. Equally
c. Less
d. Not Sufficient Information
Question 12
Complete
Question text

Select one:
b. Sales Budget
c. Cost Budget
Question 13
Complete
Question text

Select one:
b. Issue Of Material

Question 14
Complete
Question text

Select one:
a. Co2 And H2
b. O2 And Co2
c. O2, Co2 And Co
d. Co2, Co And Methane
Question 15
Complete
Question text

Select one:
a. Contribution
b. Fixed Overheads
c. Variable Overheads
d. Work Cost
Question 16
Complete
Question text
Output and sales 50,000 units with sale price of Rs. 15/unit. Material & Labour cost per unit Rs.7 & Variable
Rs. 3/unit. Fixed Rs. 70,000 & Other fixed overheads Rs. 90,000. Calculate Net income under Marginal
costing?
Select one:
a. Rs. 90,000
b. Rs. 99,000
c. Rs. 1,10,000
d. Rs. 2,50,000
Question 17
Complete
Question text

Select one:
a. All Of These.
c. Limiting Factor
Question 18
Complete
Question text
Select one:
a. 2000
b. 6000
c. 8000
d. 4000
Question 19
Complete
Question text

Select one:
a. Factory Overhead
b. Prime Cost
c. Production Overhead
d. Distribution Overhead
Question 20
Complete
Question text
Select one:
a. Expired Cost
b. Absorbed Cost
c. Unexpired Cost
d. Accrued Cost
Question 21
Complete
Question text
A shop sells wedding dresses. The cost of each dress is comprised of the following: Selling price of Rs.1,000
and variable (flexible) costs of Rs.400. Total fixed (capacity-related) cost for Shop is Rs.90,000. What is the
contribution margin per dress?
Select one:
a. 600
b. 6600
c. 6000
d. 60
Question 22
Complete
Question text

Select one:
d. Fixed Costs / Contribution Per Unit
Question 23
Complete
Question text

Select one:
c. To Estimate All Overhead Costs, Not Just Factory Overheads.
Question 24
Complete
Question text

Select one:
a. Kyoto Protocol
b. Basel Accord
c. Non Proliferation Agreement
d. Gatt
Question 25
Complete
Question text

Select one:
a. Lifo
b. Fifo
c. Ved Analysis
d. Weighted Average
Question 26
Complete
Question text
Select one:
Question 27
Complete
Question text

Select one:
a. None Of These
b. Direct
c. Indirect
d. Sunk

Question 28
Complete
Question text
Workers who leave the organization during a specific time period are taken into consideration for calculating
the labour turnover rate by____________
Select one:
a. Replacement Method
c. Flux Method
d. None Of These
Question 29
Complete
Question text
A company has fixed costs of Rs. 50,000 and variable costs per unit of output of Rs. 8. If its sole product sells
for Rs. 18, what is the break-even quantity of output?
Select one:
a. 300
b. 5000
c. 3000
d. 5500
Question 30
Complete
Question text
Select one:
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Started on Sunday, 27 June 2021, 2:13 PM

State Finished
Completed on Sunday, 27 June 2021, 2:53 PM
Grade 12.00 out of 15.00 (80%)
Question 1
Complete
Select one:
a. Cost Budget
c. Sales Budget 
Question 2
Complete
Select one:
c. All The Above
d. Cost Of Material
Question 3
Complete

Select one:
a. Cost Budget
c. Sales Budget
Question 4
Complete
Select one:
b. The Replacement Cost Approach
d. The Opportunity Cost Approach
Question 5
Complete

Select one:
a. Variable Cost
b. Profit
c. Total Cost
d. Sales
Question 6
Complete
Select one:
a. Comparing Gross Margin And Variable Costs
b. Comparing Contribution Margins And Variable Costs
d. Comparing Contribution Margins And Fixed Costs
Question 7
Complete

Select one:
a. Direct
b. Variable
c. Indirect
d. Differential
Question 8
Complete
Select one:
a. 10000
b. 110000
c. 120000
d. 80000
Question 9
Complete

Select one:
b. Vc+ Profit/Contribution Margin
c. Fc+ Profit/Contribution Margin Per Unit
d. Fc+ Profit/Contribution Margin Ratio
Question 10
Complete
Select one:
Question 11
Complete

Select one:
a. 19,10,000
b. 18,10,000
c. 18,20,000
d. 19,12,000
Question 12
Complete
HRA
Select one:
a. Liabilitities
b. Assets
c. Capital Expense
d. Revenue Expense
Question 13
Complete 
Cost Model for HRA
Select one:
a. Capitalized
b. Written Off
c. Set-Off Against Revenue
d. Expensed
Question 14
Complete
Select one:
a. Fifo
b. Ved Analysis
c. Lifo
d. Weighted Average
Question 15
Complete

Select one:
a. Sunk Costs
c. Avoidable Costs
d. Opportunity Costs
Question 16
Complete
Select one:
a. None Of These
b. Fixed
c. Invariable
d. Variable
Question 17
Complete

Workers who leave the organization during a specific time period are taken into consideration for calculating the labour turnover rate
by____________
Select one:
b. None Of These
c. Flux Method
d. Separation Method
Question 18
Complete
Select one:
a. Contribution Per Unit
b. Contribution Per Key Factor
c. Pv Ratio
d. Bep
Question 19
Complete

Select one:
a. Variable Cost
b. Sunk Cost
c. Incremental Cost
d. Fixed Costs
Question 20
Complete
Select one:
a. Current Budget
b. Long-Term Budget
c. Short-Term Budget
Question 21
Complete

Select one:
a. Fixed And Variable Cost
b. None Of These
c. Variable And Semi-Variable Cost
d. Period And Product Cost
Question 22
Complete
Select one:
a. Kyoto Protocol
b. Gatt
c. Basel Accord
Question 23
Complete

Select one:
a. Direct Expenses
b. Material Cost
c. Labour Cost
d. Process Control
Question 24
Complete
Select one:
a. Cost Budget
d. Sales Budget
Question 25
Complete

Select one:
a. Developed Countries
b. Developing Countries With High Emission
c. Between Developed And Developing Countries
d. Developing Countries
Question 26
Complete
Select one:
a. 1167
b. Rs. 999
c. Rs. 967
d. Rs. 1,900
Question 27
Complete

Select one:
a. Higher Than The Value Under Absorption Costing
c. Lower Than The Value Under Absorption Costing
d. None Of These
Question 28
Complete
Select one:
a. Incremental Cost
b. Sunk Cost
c. Fixed Cost
d. Unavoidable Cost
Question 29
Complete

Select one:
a. Cost Of Production
b. All Of The Above
c. Liquidity
Question 30
Complete
Select one:
a. 5500
b. 300
c. 3000
d. 5000
 


State Finished
Grade 11.50 out of 15.00 (77%)
Question 1
Complete
The break-even point can be de ned as?
Select one:
b. The Level Of Activity Where Pro ts Equal Fixed Costs

c. The Level Of Activity At Which There Is Neither Pro t Nor Loss
d. The Level Of Activity Where Cash Flow Is Zero
Question 2
Complete
Workers who leave the organization during a speci c time period are taken into consideration for calculating the labour turnover rate
by____________
Select one:
a. None Of These
c. Flux Method
d. Replacement Method

Question 3
Complete
Select one:
a. Flexible Budget
c. Fixed Budget
d. Both A And B
Question 4
Complete
Select one:
a. Di erential
b. Variable
c. Direct
d. Indirect
Question 5

Complete
A shop sells wedding dresses. The cost of each dress is comprised of the following: Selling price of Rs.1,000 and variable ( exible) costs of
Rs.400. Total xed (capacity-related) cost for Shop is Rs.90,000. What is the contribution margin per dress?
Select one:
a. 6600
b. 600
c. 60
d. 6000
Question 6
Complete
Select one:
a. Only When The Decrease In Total Contribution Margin Is Less Than The Decrease In Variable Cost
b. Only When The Decrease In Total Contribution Margin Is More Than The Decrease In Variable Cost
c. Only When The Decrease In Total Contribution Margin Is Equal To Fixed Cost
d. Only When The Decrease In Total Contribution Margin Is Less Than The Decrease In Fixed Cost
Question 7

Complete
In marginal costing stock of nished goods is valued at ------
Select one:
c. Same As Absorption Costing
d. None Of These
Question 8
Complete
Select one:
b. Between Developed And Developing Countries
Question 9

Complete
Shut down cost is:
Select one:
Question 10
Complete
Select one:
a. 8000
b. 2000
c. 4000
d. 6000
Question 11

Complete
Select one:
a. Semi Variable
b. Fixed
c. Variable
d. All Of These
Question 12
Complete
Select one:
a. All Of Above
c. None Of Above
Question 13

Complete
Select one:
a. Prime Cost
b. Production Overhead
c. Factory Overhead
Question 14
Complete
Select one:
b. Facility-Level Costs.
Question 15

Complete
________ is the rst step of budgetary system and all other budgets depends on it.
Select one:
b. Sales Budget
c. Cost Budget
Question 16
Complete
Select one:
a. Basel Accord
b. Non Proliferation Agreement
c. Kyoto Protocol
d. Gatt
Question 17

Complete
Select one:
a. Restricting Factors
b. Governing Factors
c. Limiting Factor
d. All Of These.
Question 18
Complete
Select one:
a. Relevant
b. None Of These
c. Constant
d. Irrelevant

Question 19
Complete
Select one:
a. 18,10,000
b. 19,10,000
c. 19,12,000
d. 18,20,000
Question 20
Complete
Select one:
Question 21

Complete
Select one:
b. Needs A Predetermined Overhead Rate
c. Changes Overhead Costs From Low-Volume Products To High-Volume Products
d. Provides The Results Same As Traditional Costing
Question 22
Complete
To nd the break-even in Rupees, you have to divide the xed cost by ____________?
Select one:
a. Fixed Cost
c. Variable Cost
d. Contribution Margin Ratio
Question 23

Complete
Select one:
c. Green Countries
Question 24
Complete
Select one:
a. Fixed Cost
b. Unavoidable Cost
c. Incremental Cost
d. Sunk Cost
Question 25

Complete
Select one:
a. Cvp Analysis
b. Unit Sales
c. Margin Of Safety
d. Business Analysis
Question 26
Complete
Select one:
a. Sunk Costs
c. Di erential Costs
d. Avoidable Costs
Question 27

Complete
A company's telephone bill consisting of a Rs. 200 monthly base amount, plus long distance charges, would be classi ed as a?
Select one:
a. Fixed Costs
b. Mixed Cost
c. Incremental Cost
d. Variable Cost
Question 28
Complete
Select one:
a. Co2, Co And Methane
b. O2, Co2 And Co
c. O2 And Co2
d. Co2 And H2
Question 29

Complete
Select one:
b. Sales Budget
c. Cost Budget
Question 30
Complete
Select one:
a. Both A And B
b. Rate Per Unit
c. None Of These

 
State Finished
Grade 14.00 out of 15.00 (93%)
Question 1
Complete
Flag question
Question text

Select one:
a. Cost Budget
c. Sales Budget
Question 2
Complete
Flag question
Question text
Select one:
Question 3
Complete
Flag question
Question text
period.
Select one:
a. Cost Budget
c. Sales Budget
Question 4
Not answered
Marked out of 0.50
Flag question
Question text
Select one:
a. Material Cost
b. Process Control
c. Labour Cost
d. Direct Expenses
Question 5
Complete
Flag question
Question text
Select one:
a. Expensed
b. Capitalized
c. Written Off
Question 6
Complete
Flag question
Question text
Select one:
a. 41500
c. 48500
d. 45000
Question 7
Complete
Flag question
Question text
Select one:
a. None Of These
d. Flux Method
Question 8
Complete
Flag question
Question text

Select one:
c. Tax Compliance.
d. Financial Audit
Question 9
Complete
Flag question
Question text
Select one:
a. Rs. 350000
b. Rs. 340000
c. Rs. 330000
d. Rs. 300000
Question 10
Complete
Flag question
Question text

Select one:
a. Co2 And H2
c. O2, Co2 And Co
d. O2 And Co2
Question 11
Complete
Flag question
Question text
Select one:
a. 18,10,000
b. 19,12,000
c. 19,10,000
d. 18,20,000
Question 12
Complete
Flag question
Question text
Select one:
b. Its Total Cost
c. Its Prime Cost
d. Its Fixed Cost
Question 13
Complete
Flag question
Question text

Select one:
a. Lifo
b. Weighted Average
c. Fifo
d. Ved Analysis
Question 14
Complete
Flag question
Question text

Select one:
c. None Of These
Question 15
Complete
Flag question
Question text
Select one:
c. Variable Cost
d. Fixed Cost
Question 16
Complete
Remove flag
Question text

Select one:
a. Indirect
b. Differential
c. Direct
d. Variable
Question 17
Complete
Remove flag
Question text

Select one:
b. Ved Analysis
c. Abc Analysis
d. Stock Level
Question 18
Complete
Flag question
Question text
beginning is
Select one:
Question 19
Complete
Flag question
Question text
Select one:
a. 600
b. 60
c. 6600
d. 6000
Question 20
Complete
Remove flag
Question text

Select one:
b. Margin Of Safety
c. Cvp Analysis
d. Unit Sales
Question 21
Complete
Flag question
Question text

Select one:
Question 22
Complete
Flag question
Question text
Select one:
Question 23
Complete
Flag question
Question text
decision/action.
Select one:
a. Sunk
b. Direct
c. Indirect
d. Opportunity
Question 24
Complete
Remove flag
Question text

Select one:
b. All Of These
d. Limiting Factor
Question 25
Complete
Remove flag
Question text
Select one:
a. Both A And B
b. Flexible Budget
c. Fixed Budget
Question 26
Complete
Flag question
Question text
Select one:
b. More
c. Equally
d. Less
Question 27
Complete
Flag question
Question text
Select one:
a. Rs. 90,000
b. Rs. 99,000
c. Rs. 1,10,000
d. Rs. 2,50,000
Question 28
Complete
Flag question
Question text

Select one:
b. Contribution
c. Fixed Overheads
d. Work Cost
Question 29
Complete
Flag question
Question text
Select one:
a. Rs. 1,900
b. Rs. 999
c. Rs. 967
d. 1167
Question 30
Complete
Flag question
Question text
Select one:
Started on Friday, 2 July 2021, 11:34 AM

State Finished
Time taken 28 mins
Grade 13.50 out of 15.00 (90%)
Question 1
Complete
Select one:

Question 2
Complete
Select one:
b. Non Annexured Countries
c. Annexured Countries
d. Green Countries
Question 3
Complete 
Select one:
b. Both A And B
c. Flexible Budget
d. Fixed Budget 
Question 4
Complete
Select one:
a. Fixed Overheads
b. Contribution
c. Work Cost
d. Variable Overheads
Question 5
Complete 
Select one:
a. Rs. 15
b. Rs. 10 
c. Rs. 11.27
d. Rs. 10.80
Question 6
Complete
Select one:
a. Needs A Predetermined Overhead Rate
c. Changes Overhead Costs From High-Volume Products To Low-Volume Products
d. Changes Overhead Costs From Low-Volume Products To High-Volume Products
Question 7
Complete 
Select one:
c. Avoidable Costs
d. Sunk Costs 
Question 8
Complete
Select one:
a. 10000
b. 120000
c. 110000
d. 80000
Question 9
Complete 
Select one:
a. Abnormal Factor
c. Linking Factor
d. Key Factor 
Question 10
Complete
Select one:
a. Unexpired Cost
b. Absorbed Cost
c. Expired Cost
d. Accrued Cost
Question 11
Complete 
Select one:
a. Ved Analysis
b. Fifo
c. Weighted Average
d. Lifo 
Question 12
Complete
Select one:
a. Prime Cost
c. Factory Overhead
Question 13
Complete 
Select one:
a. Accrued Cost
b. Absorbed Cost
c. Expired Cost
d. Unexpired Cost 
Question 14
Complete
Select one:
a. Issue Of Material
c. Purchase & Receipts.
Question 15
Complete 
Select one:
c. None Of These
d. Lower Than The Value Under Absorption Costing 
Question 16
Complete
Select one:
Question 17
Complete 
than the budget?
Select one:
a. Total Variable Costs
b. Variable Costs Per Unit
c. None Of Above

Question 18
Complete
Select one:
a. Tax Paid On The Final Product
b. All The Above
d. Cost Of Material
Question 19
Complete 
Select one:
a. Margin Of Safety
b. Business Analysis
c. Cvp Analysis
d. Unit Sales 
Question 20
Complete
Select one:
a. Indirect
b. Sunk
c. Opportunity
d. Direct
Question 21
Complete 
Select one:
d. The Benefits Obtained From Abc Might Not Justify The Costs. 
Question 22
Complete
Select one:
Question 23
Complete 
Select one:
a. Variable
b. None Of These
c. Fixed
d. Invariable 
Question 24
Complete
Select one:
a. Sunk Cost
b. Fixed Costs
c. Incremental Cost
d. Variable Cost
Question 25
Complete 
Select one:
a. Fc+ Profit/Contribution Margin Ratio
b. Fc+ Profit/Contribution Margin Per Unit
c. Vc+ Profit/Contribution Margin
d. Vc+ Profit/Contribution Margin Ratio 
Question 26
Complete
Select one:
b. None Of These
c. Fixed And Variable Cost
d. Variable And Semi-Variable Cost
Question 27
Complete 
Select one:
d. The Historical Cost Approach 
Question 28
Complete
HRA
Select one:
a. Revenue Expense
b. Capital Expense
c. Assets
d. Liabilitities
Question 29
Complete

Select one:
a. Flexible Budget
b. Both A And B
c. Fixed Budget

Question 30
Complete
Select one:
a. Capital Expenditure
b. All Of The Above
c. Liquidity
d. Cost Of Production
  
Management ACCOUNTING
6) A special Order can be acknowledged at
- Below marginal cost

- Below total cost and above marginal cost
- Below fixed cost
- Above total cost
11) From the perspective of cost allocation , Service department costs are:
- Generally treated as period costs rather than product costs

- Reported as selling and administrative expenses on the income statement.
- Eventually applied by the user departments to the units produced
- Seldom found in manufacturing organizations
13). The following is true about activity- based costing
- It is a two stage allocating system that allocates costs to activities and then to products based on
their uses
- Under this , both direct costs and indirect costs are absorbed into products using predetermined
department
- Under this standard cost system is used
- Under this budgeted costs are used
1) . The p/v ratio of a company is 40% and the margin safety is 20%. If present sales is RS 20,00,000 then break
even point in Rs is
- Rs 4,00,000
- Rs 12,00,000
- Rs 8,00,000
- Rs 16,00,000
7). The accounting statement of cash flow reports a firm's cash flow segregated into what categorical order
- Operating, investing and financing

- Investing, Operating and financing
- Financing, Operating and investing
- Financing, Investing and Operating
12). Code of ethics for accounting professionals is based upon:
- Integrity
- Objectivity
- Confidentiality
- All of these
8). It is a separate performance obligation
- Assurance Warranty
- Service Warranty
- Both of these
- None of these
5). The word “relevant range” is used in cost accounting, means the range over which
- Relevant costs are incurred

- Costs may fluctuate
- Cost relationships are valid
- Cost data is available
20). An increase in variable cost per unit will lead to

- An increase in profits
- An increase in contribution
- A reduction in contribution
- An increase in P/V ratio
16). The activity based management (ABM) refers to a set of actions that management can take, Based on
information from an ABC
- Repricing of unprofitable products

- Increasing sales volume of highly profitability products
- Process improvement
- All of these
14). which remains constant in total but reduces per unit as the volume of the production increase is known as:
The cost
- Variable cost
- Fixed cost
- Mixed cost
- Semi-variable cost
- But answer is fixed cost
9). On the basis of flexibility budget is classified into two types such as fixed budget and _ budget
- Flexible
- Semi – Variable
- Rolling
- Constant
3). Which of the following items would be subtracted from net income when using the indirect method of
calculating cash flows provided by
- Depreciation expense
- Repayment of bonds payable
- A gain of sales on land
- A loss on the sale of equipment
4). Flexible budgets, as a tool of planning and control, are superior to fixed budgets are their inability to
- Show the potential variability of various estimates used in preparation of budget

- Indicate the range which costs doesn’t change
- Indicate the range within which cost change
- None of these
10). ------ are the assets which the management expects to convert into cash within 12 months after the
balance sheet date.
- Non-current assets
- - Deferring tax assets
- Current asset
- Intangible asset
19). If an accounting firm certifies a company’s financial statement, it should have ---- to make the financial
situation look better
- Motivation
- Financial incentive
- Financial incentive
- Ethical intention
17). In general, the first budget prepared is the
- Production budget
- Direct labour budget
- Sales budget
- Overheard budget
15). The fixed manufacturing cost can be carried forward to next period as part of inventory cost in which of
the following control system: -
- Marginal costing
- Variable costing
- Unit costing
- Full costing
50)- Revaluation gain is included in
- Net profit
- Other Comprehensive income
- Other income
- Net income
51. The ABC system has advantages
A. All of these
52. As at April 1 2017 100000 shares were outstanding..
A. 125000
53. When production is less than unit sold then the income under absorption costing will be - - - - - - than the
income from variable costing
A. Lower
When production is More than unit sold then the income under absorption costing will be - - - - - - than
SAME
53. A company makes a single product and incurs fixed cost of Rs 60000 per annum
A. 6000 BEP =FC/SP - VC
54. Which of the following would be considered a cash flow item from a financing activity
A. A cash outflow to repurchase the firm's own common stock
55. The excess of AVERAGE SALES REVENUE over BESR is known as
A. Margin of Safety
56. Income from after sales services to customers would be recorded in:
A. Other income
57. Goodwill is categorised under which assets:
A. Intangible assets.
58. The costs of a single process or a series of processes that produce two or more products of significant sale
value is known as:
A. Joint product cost

59. Ethics and integrity standards are based on the following except
A. There are no clear rules or responsibilities???
60. In process further and sell now decisions, the decision should be taken based on:
A. Incremental revenues and Incremental costs.
61. As on April 1 2017 100000 shares were outstanding. On October 1 2017 50000 shares were issued. The
weighted average number of shares to be used as denominator to calculate Basic EPS is
A. 125000
62. Following information is available for Prime Ltd…..Fixed Cost 800000, variable cost 20/unit, and selling price
per unit 30/- of 200000 units. Closing stock 50000 units. What will be the profit earned during the year as per
the Marginal costing method.
63. Which of the following equations represent break even point:
A. Contribution = Fixed cost
64 Cost of factory lighting is an example of
A. Indirect cost
65. Assumptions regarding VCP graphs are
A. All of these
66. In shut down or continue decisions the factors to be considered are:
A. Contribution Margin
67. Fixed costs are fixed for a relevant range of volume for a given Budget period,Lean period, Production
period
A. All of these.
68.Banks generally see that the Debt to Equity ration is equal to or below
A. 1:1
69. The underlying difference between Absorption costing and Variable costing is the treatment of
A. Fixed Manufacturing cost
Q. 72 The term financial statement cover:
A. Profit and Loss statement and Balance sheet
73. Horizontal Analysis needs preparation of________ financial statements
A. Cash flows
74. Activity based costing is a costing technique that uses a two state allocation and these are:
A. The costs are assigned to activities and then to products based upon the use of the activities.
75. Which of the following will not cause the BEP to change
A. Sales volume decreases
76 In ________ strategy of earning management the entity increases or decreases the earning in order to
reduce the visibility in reported earnings from period to period
A. Income smoothing
77. Calculate overhead rate using material costing method Factory overhead 1600000, Direct materials 100000
and Direct wages 80000
A. 2
78. Master budget is the budget of the entire

A. Organisation
79 The cost of the single process or a series of processes that simultaneously produce two or more products of
significant value are;
A. Joint costs.
80. Which statement shows the flow of cash and cash equivalents during the financial period?
A. Cash flow statements
81. Under Abs costing which of the following fixed expenses charged to COGS
A. All of these ( Fixed manufacturing costs fixed admin cost and fixed selling cost)
82. ______ analysis is used for Trend analysis
A. Ration Trend Analysis
84. A Volume cost profit analysis is a tool to show the relationship between various ingredients of profit
planning namely
A. All of these.
85. When BEP is 2000 units and SP is 14 and VC is 8, what is the fixed cost
A. 12000 ( FC/Sp-Vc)
86. Annual requirement 100000 units, unit price 5 order cost 20 per order, carrying cost 1 per unit and lead
time is 2 weeks the EOQ would be
A. 2000( Square root of 2AB/C where A is requirement, B is order cost and C is carrying cost)
87. The following costs are irrelevant to Special order that will allow the Organisation to utilise some of its idle
capacity:
A. Unavoidable Fixed OH
88. R&D and Advertising expenses in the P &L statement are
A. Cost of sales
89. A balance sheet of the company shows equity 100000 and financial assets 30 lakhs the NOA at the balance
sheet date was
A. 70 lakhs
90. The accounting statement of cash flows reports a firms cash flow segregated into what categorical order
A. Operating, investing and financing
91.BEP is computed on the basis of relationship between Fixed cost and
A. Contribution Margin.
92. One of the following is not included in the costing and control of factory overhead
A. No allocation of overhead
94. Profit and Loss from discontinuing operations and other comprehensive income are not included in the
profit and loss for computing
A. NOPAT ( Net Operating Profit after Tax)
95. Patents are categorised as under:
A. Intangible asset
96. Revaluation gain is included in

A. Other comprehensive income
97. Financial assistance given to co investing in pollution control machines is known as
A. Govt grant.
98. The form of balance sheet is
A. Horizontal or Vertical
99. All costs that affect a decision are called
A. Relevant costs.
100. SEBI requires the non-finance co to present cash flow using
A. Indirect method
101. Which of the following equation represents break even point
A. Contribution = Fixed cost
102. Cost of factory lighting is an example of
A. Indirect cost
103. Assumptions regarding VCP graphs are
A. All of these Costs can be bifurcated into variable and fixed components.
2. Fixed costs will remain constant during the relevant volume range of graph.
3. Variable cost per unit will remain constant during the relevant volume range of graph.
4. Selling price per unit will remain constant irrespective of the quantity sold within the relevant range of the
graph.
5. In the case of multi-product companies, in addition to the above four assumptions, it is assumed that the
sales-mix remains constant.
104. For shut down and continue decision factors to be considered are
A. Contribution margin
105.Fixed costs are fixed for a relevant range of volume for a given
A. All of these
106. The underlying difference between Abs costing and Variable costing is the treatment of
A. Fixed Manufacturing cost
ACCOUNTING
1. The cost of raw materials used in production is an example of

a. Product cost
2. Quick assets do not include
a. Inventories
3. An increase in selling price per unit lead to
Increase in contribution
4. Which of the following will not appear in a cash budget?

Depreciation of Machinery
5. Financial leverage of a company with can not be calculated
Negative Net worth
6. A special Order can be acknowledged at
Below marginal cost
7. Costs that consist of both fixed costs and variable costs are known as
Mixed Cost
8. If a company revalue its assets , its net worth

Will improve
9. The cost allocation process does not comprise of one of the basic activities which is
Rationalization of activities
10. For a Financial Institution Interest paid and Interest dividends received are classified as
Investing
11. From the perspective of cost allocation , Service department costs are:
Eventually applied by the user departments to the units
produced
12. The following is true about activity- based costing
It is a two stage allocating system that allocates costs to activities and then to products based on their
uses
13. Net profit is reported as 500000. Net profit includes interest expense 5,00,000 income tax
expense 20,00,000. Interest income 3,00,000 depreciation 6,00,000. Working capital increased
during the year 4,00,000. There was no income tax liability at the beginning and at the end of the
year. Cash flow from operating activities is
540000
14. The p/v ratio of a company is 40% and the margin safety is 20%. If present sales is RS 20,00,000
then break even point in Rs is
Rs 4,00,000
Rs 12,00,000
Rs 8,00,000
Rs 16,00,000
15. The accounting statement of cash flow reports a firm's cash flow segregated into what categorical
order
Operating, investing and financing
16. Which report gives a review on the profitability of business

Income statement
17. Code of ethics for accounting professionals is based upon:

All of these
18. It is a separate performance obligation
Service Warranty
19. The word “relevant range” is used in cost accounting, means the range over which
Cost relationships are valid
20. An increase in variable cost per unit will lead to
A reduction in contribution
20. The Activity based costing ( ABC) system has advantages
All of these
21. The activity based management (ABM) refers to a set of actions that management can take,Based
on information from an ABC
Repricing of unprofitable products

Increasing sales volume of highly profitability
products Process improvement
All of these
22. The cost which remains constant in total but reduces per unit as the volume of the production
increase is known as:
Variable cost
23. On basis of flexibility budget is classified into two types such as fixed budget and _ budget
Flexible
24. Which of the following items would be subtracted from net income when using the indirect
method of calculating cash flows provided by
A gain of sales on land
25. When assets are subtracted from liabilities it will be equal to

Capital
26. Flexible budgets, as a tool of planning and control, are superior to fixed budgets are their inability
to
Show the potential variability of various estimates used in preparation of budget
27. Flexible budget estimates cost at several levels of
Activity
28. ------ are the assets which the management expects to convert into cash within 12 months after
the balance sheet date.
Current asset
29. A current asset that can be transferred into cash within three months as known as
Cash equivalent
30. ----------------- is an obligation present at the balance sheet date
Liability
31. is an example of Non-current assets

Property plant
32. Current Ratio is 4:1. Net working capital is 30,000. Find the amount of current
assets 10,000
40,000
24,000
6,000
33. Current ratio of a concern is 1, its net working capital will

be NIL
34. the Closing Inventory, if any, under variable costing is valued

at Variable and fixed manufacturing cost per unit
35. If there is no opening and closing inventory then profit under marginal costing will
be in comparison to absorption costing
Same
36. Financial statements of the companies are required to be presented in the format prescribed
in of the companies Act,2013
Schedule III
37. The transfer of legal right of an asset may indicate that the customer has obtained control of the
Asset
38. Horizontal Analysis requires preparation of
Indexed
39. The term Current asset doesn’t cover

Car
40. net profit as per statement of profit and loss is 10,00,000, finance cost 300,000, ---------
A 1105000
B 1170000
C 845000
D 1235000
40. ----------------is an example of non cash expense
Depreciation
41. if an owned premises is used for a business , the rental income forgone by not giving it
Sunk cost
42. A company makes a single product and incures fixed cost of Rs. 60,000 per annum. Variable cost
per unit is Rs. 10 ans each unit sells for Rs. 30. Annual sales demand is 14,000 units. The
breakeven point is
60000 /30-10
=3000 units
43. If an accounting firm certifies a company’s financial statement, it should have ---- to make
the financial situation look better
Ethical intention
44. In general, the first budget prepared is the
Sales budget
45. The fixed manufacturing cost can be carried forward to next period as part of inventory cost in
which of the following control system : -
Full costing
46. The ABC system has advantages
All of these
47. When production is less than unit sold then the income under absorption costing will be - - - - - -
than the income from variable costing
Lower
48. Which of the following would be considered a cash flow item from a financing activity
A cash outflow to repurchase the firm's own common stock
49. The excess of ASR over BESR is known as

A. Margin of Safety
50. Research and development training programs for its employees, advertising and sales promotions,
charitable and/or political donations , management consulting services and so on are called
Discretionary Fixed Cost
51. Income from after sales services to customers would be recorded in:
Other income
52. Goodwill is categorised under which assets:

Intangible assets.
53. Ethics and integrity standards are based on the following except
A. There are no clear rules or responsibilities???
54. In process further and sell now decisions, the decision should be taken based on:
A. Incremental revenues and Incremental costs.
55. As on April 1 2017 100000 shares were outstanding. On October 1 2017 50000 shares were
issued. The weighter average number of shares to be used as denominator to calculate Basic EPS
is
A. 125000
56. Following information is available for prime limited for year end march 2020 fixed cost 800000
Variable cost rs 20 per unit selling price rs 30 per unit output level 2,00000 units Closing stock
50,0000 units what will be the amount of profit earned during the year using the absorption costing
technique Ans 7,00,000
57. Is a detailed budget of all cash receipts and all expenditures Cash
budget
58. Selling and distribution charges are incurred for marketing of products, dispatching goods sold,
and so on and include
All of the above
59. For cash ltd. Estimated sales for April , may, June & July , august are 46,000 , 48000, 28,000,
44,000, 30,000. increase 50% sales are realized in the next month and the balance in the next
to next month . determine cash collection from sales in June& July –
38000 & 36000
60. Cost of factory lighting is an

example of Indirect cost
61. Assumptions regarding VCP

graphs are All of these
62. The point at which different individual products are separated after a common stage of production
is known as the
Split off point
63. In shut down or continue decisions the factors to be considered are:

Contribution Margin
64. Banks generally see that the Debt to Equity ratio is equal to or below
2:1
65. In case of a bank, interest income should be recognised in the statement of profit and loss
as Other income
66. The Principle underlying the variable costing is that the fixed manufacturing
overheads are Period cost
67. Potential equity shares are treated as dilutive when and only when their conversation to equity
shares would increase from continuing ordinary operations
Net profit per share
68. The following is included in overheads

Indirect material
indirect labour
indirect expenses all
of these
69. -------------------attached with the balance sheet forms a part of the financial statements
Schedules or notes to accounts
70. The term financial statement covers:
Profit and Loss statement and Balance sheet
71. Activity based costing is a costing technique that uses a two state allocation and these are:
The costs are assigned to activities and then to products based upon the use of the activities.
72. Which of the following will not cause the BEP to change
Sales volume decreases
73. Cash flows arising from the purchase and sale of dealing securities are classified as
Operating Activities
74. A contract with a customer sets out the rights and obligations of both, the entity and the
customer. Which of the statement is correct
A: The entity’s right is to deliver goods and services. And the obligation----------
75. 76 In strategy of earning management the entity increases or decreases the earning in order
to reduce the visibility in reported earnings from period to period
Income smoothing
76. Resources that are limited in quantity are
called as CONTRIBUTOR
77. Master budget is the budget of the entire
Organisation
78. The quality of being honest and having strong principles that you refuse to change
is Integrity
79. 79 The cost of the single process or a series of processes that simultaneously produce two or
more products of significant value are;
Joint costs
80. Which statement shows the flow of cash and cash equivalents during the financial period
Cash flow statements
81. Under Abs costing which of the following fixed expenses charged to COGS
All of these ( Fixed manufacturing costs fixed admin cost and fixed selling cost)
82. analysis is used for Trend analysis
Horizontal Analysis
83. The following details relate to a particular co. total cost centre oH are 200000, for machining
Deptt and Rs. 150000 for assembly dept, machine hrs used in machinery are 10000hrs, and in
assembly 5000hrs labour hrs used in machinery are 4000 and in assembly 12000, the most
appropriate rate to be used for machinery deptt. Is
15
84. A VCP analysis is a tool to show the relationship between various ingredients of profit planning
namely
All of these.
85. When break even point is 2000 units and SP is 14 and VC is 8, what is the fixed cost
12000 ( FC/Sp-Vc)
86. Annual requirement 100000 units, unit price 5 order cost 20 per order, carrying cost 1 per unit
and lead time is 2 weeks the EOQ would be
2000( Square root of 2AB/C where A is requirement, B is order cost and C is carrying cost)
87. The following costs are irrelevant to Special order that will allow the Organisation to utilise some
of its idle capacity:
Unavoidable Fixed OH
88. R&D and Advertising expenses in the P &L statement are
Cost of sales
89. A balance sheet of the company shows equity 100000 and financial assests 30 lakhs the NOA at
the balance sheet date was
70 lakhs
90. is the traditional method of income determination which includes all

manufacturing costs i.e and fixed expenses
ABSORPTION COSTING
91. Cash receipt received from the sales fixed assets are registered under the haed
of Investing activities
92. are the expenses related to business activity but are disproportionate selling in amount
Operating Expenses
93. Opportunity cost represents the forgone by not choosing the second best alternative in favor of
the best one :
A. Loss
Benefit
Both
none of the above
94. Fixed cost is a cost
Which do not change in total during a given period despite changes in output
95. The accounting statement of cash flows reports a firms cash flow segregated into
what categorical order
Operating,investing and financing
96. Break even point is computed on the basis of relationship between Fixed cost and
Contribution Margin.
Q. The ABC system is a widely used classification technique to identify various item of inventory for purpose
of inventory control
HIGH IN VOLUME
MOST COSTLY AND/OR SLOWEST
FAST - TURNING
ALL OF THESE
Interest received, dividend received are an example of
Other operating income
.
97. Compute contribution if sales is 5,00,000 fixed cost is 2,00,000 and variable cost is 2,00,000
3,00,000
98. One of the following is not included in the costing and control of factory Overheads
No allocation of Overheads
99. The tax expense statement of Profit and Loss account is Rs. 4000000 current tax liability at the
beginning and end of the year is 2lacs and 1lac respectively. Cash outflow on account of income
tax payment was:
A.3900000
100. is a proxy for pretax cash operating margin
EBITDA
101.The main operations related expenses of a business are termed as

Operating expenses
102.If rent of factory is 10000 per month and a machine occupies 1/4th space of factory
calculate machine hour rate. If machine works for 1000 hours in a year. Calculate MHR
Rs. 30/hour
103.Companies earn interest from investments and therefore for them interest income is not
revenue
Non-Financial
104.Profit and Loss from discontinuing operations and other comprehensive income are not
included in the profit and loss for computing
NOPAT ( Net Operating Profit after Tax)
105.The purchase of Jan feb march is rs 10000, 12000, 15000. Payment to supplier is done 50% in
the month of purchase and 50% in the next month. Calculate the cash payment for the month
of feb
11000
106.Patents are categorised as under:
Intangible asset
107. Revaluation gain is included in

Other comprehensive income
108.Financial assistance to companies which invest in pollution control equipment is an

example of
Govt grant
109.The form of balance sheet is

Horizontal or Vertical
110.All costs that affect a decision are called
Relevant costs.
111.SEBI requires the non-finance co to present cash flow using

Indirect method
112.Which of the following equation represents break even point

Contribution = Fixed cost
113.Cost of factory lighting is an example of
Indirect cost
114.Fixed costs are fixed for a relevant range of volume for a given
All of these
115.The underlying difference between Abs costing and Variable costing is the treatment of
Fixed Manufacturing cost
116. For a given info on shine Ltd answer the question
Cost of Machine 200000

Estimated life 10yrs
Scrap value 6000
Factory ops hrs in week 48
Machinery break down 15%
Electricity used by machinery is 10 units/h and 60p /unit Machine Hr rate=
Calculate depreciation
19400
1. Calculate electricity consumption rate per hour ?
Rs 6 per hour
Rs 10 per hour
Rs 60 paise per hour
Rs 60 per hour
2. Calculate the effective machine hours worked in a year ?
2496 hours
374 hours
2122 hours
576 hours
3. calculate machine hour rate
Rs 14 per hour
Rs 11.61 per hour
Rs 12.60 per hour
Rs 18 per hour
4. calculate deprecation rate per hour.
Rs 9.43 per hour
Rs 5.61 per hour
Rs 6.60 per hour
Rs 8.01 per hour

117. The direct method and indirect method of presenting cash flow statement the force only in respect of presenting
cash flow from
Non- operating
Direct
Operating
Indirect
116.Which break even point is 2000 units. Selling price per unit is Rs. 14 and variable cost is Rs. 8
find out fixed cost
Rs 12000
117.For ABC Limited annual rent of factory is 12,0000 and units produced in the current year at
1,0000
s2 LACS
118.The distribution of common cost among user departments is known as
Apportionment of Cost
119.In product mix decision. Most important factor to be considered is
contribution per unit of a scarce resource used to make the product
120.A asset is classified as asset if its value is not determinable in a fixed amount of cash Non-
monetary
121. is the firm ability to arrange cash in short term to meet its short term obligations where as
is its long term visibility and ability to honour long term financial commitments Liquidity.
Solvency option C
122.Furniture Ltd. produces multiple types of chairs. It uses activity-based costing and has the
following activity cost pools, estimated overhead cost for each pool and related cost driver: a)
Handling material Rs 240,000 for which cost driver is number of parts, total parts are 6000 b)
Processing purchase orders Rs 720,000 for which cost driver is number of purchase orders, total
purchase orders placed in a year are 12000. If number of purchase orders and number of parts for
the Manager chair are 2000 and 2000 respectively then calculate the overheads allocated to
Manager chairs.
Rs 80000
Rs 120000
Rs 480000
Rs 200000 - Ans (shared in the other group)
123.Printers limited uses activity based costing for its products which includes laser printers and ink
jet printers. The total estimated overhead cost for the
7,20,000
As per flexible budget, sales is Rs 5,00,000 CoGS is Rs 3,00,000 and 20% of which is fixed. Calculate at
80% capacity utilization, considering that current utilization of capacity is 60% ::
Rs 320000
Rs 380000
Rs 400000
Rs 500000
Furniture Ltd. produces multiple types of chairs. It uses activity-based costing and has the following activity
cost pools, estimated overhead cost for each pool and related cost driver: a) Handling material Rs 240,000 for
which cost driver is number of parts, total parts are 6000 b) Processing purchase orders Rs 720,000 for which
cost driver is number of purchase orders, total purchase orders placed in a year are 12000. If number of
purchase orders and number of parts for the Manager chair are 3000 and 3000 respectively then calculate the
overheads allocated to
A 120000
B 180000
C 300000
D 960000
P
124.The earnings management mechanics in which the management takes as many write-
offs as possible in a period of markedly poor performance is called--------
Liquidity Smoothening
125. Tibu Company

Question 60000
126.For Torque Ltd the sales income from

1,30,000 0.33
127.Buy back of shares is an

of fund – INVESTMENT
128.A system assigns indirect costs or products in two stages: first, the accumulated cost
are allocated to production departments, second, the accumulated cost
centres Traditional costing systems
129.According to the critics of the professional accounting rules, conflict of interest is

built into the accounting system because the accounting firm is working
For the company whose accounts it is auditing
130.In process further or sell now decisions , the decisions should be taken based on …..
Incremental revenue and incremental cost
131.The part of cost of joint products that can be attributed exclusively and wholly to
a particular product, process, division or department is known as…..
Seperable
In cash flows, when a firm invests in fixed assets and short-term financial investments results in
Select one:
a. Increased Liabilities
b. Decreased Cash
c. Increased Equity
d. Increased cash
It is a part of business analysis.
Select one:
a. Credit details analysis
b. Financial statement analysis
c. Financial accounting
d. Bank statement analysis
For a non-finance entity, interest and dividend income are classifed as ................
Select one:
a. Government grant
b. Other operating income
c. Other income
d. Operating income
All the assets that an entity controls are recognised in the ................
Select one:
a. Accounting book
b. Balance sheet
c. Pro
t & loss statement
d. Financial statement
Cash flow example from an investing activity is
Select one:
a. Sale of investment by non-financial enterprise
b. Repayment of long-term loan
c. Purchase of raw materials for cash

d. Issue of debenture
The terms ‘................’ is used in the context of PP&E and the term '................' is used in the context of
intangible assets.
Select one:
a. Amortisation, Depreciation
c. Depreciation, Amortisation
d. Depreciation, Depletion
................ reduces the opportunity for window dressing by controlling accounting policy.
Select one:
a. GDP
b. GAAP
c. Equity
d. Company Law
A firm that issues stocks and bonds to raise funds results in
Select one:
a. Increases cash
b. Decreases cash
c. Increases equity
d. Increases liabilities
Revenue is categorized as ........
Select one:
a. Earnings
b. Other income
c. Profit
d. Operating Income
Financial assistance to companies which invest in pollution control equipment is an example of

................
Select one:
a. Private Fund
b. Government donation
c. Government grant
d. NGO Fund
In the Balance sheet of a firm, the debt equity ratio is 2:1. The amount of long term sources is `12 lac.
What is the amount of tangible net worth of the firm?
Select one:
a. ` 2 lac
b. `12 lac
c. ` 4 lac.
d. `8 lac
Managing it through accounting manipulations is known as earnings management.
Select one:
a. Accounting
b. Earnings
c. Accrual management
d. Tax liability
If members of the auditing profession breach the trust that investors and other stakeholders place on
the profession and misreport on the true and fairness of financial statements due to negligence or
otherwise, the smooth functioning and growth of the capital market
Select one:
a. Will not be affected at all
b. Will not be affected
c. Will be affected positively
d. Will get affected adversely
EBIT= EBITDA- ................
Select one:
a. Depreciation and Amortisation
b. Profit
c. Depreciation
d. Amortisation
An asset is a
Select one:
a. Source of fund
b. Inflow of funds
c. None of the above
d. Use of fund
Equity is classiffed into...... and .........
Select one:
a. Equity capital, other equity
b. Total equity, equity share
c. Equity shares, total equity
d. Equity capital, equity shares
Statement of cash flows includes
Select one:
a. All of the above
b. Financing activities
c. Operating activities
d. Investing activities
It applies values in its conduct with all the stakeholders, including those with whom it has no
commercial dealing.
Select one:
a. Ethical business
b. Responsible business
c. Professional business
d. None of the above
The expenses in Statement of Profit and Loss are classified as per their________
Select one:
a. Nature
b. Function
c. Variable-Fixed
d. Finacial-Non Financial
Total comprehensive income has ................ components
Select one:
a. Six
b. Five
c. Two
d. Three
While analysing ...... both investors in equity shares and lenders evaluate downside risks.
Select one:
a. Credit statement
b. Liabilities
c. Assets
d. Financial statement
An accountant who is employed with a company and is a member of a project team must have the
knowledge of the product and the application issues in applying...........in the industry.
Select one:
a. Guidelines of confidentiality
b. Guidelines for CFO
c. accounting guidelines
d. IndAS
Which of these are unique features of the accounting profession
Select one:
a. Do not share confidential information
b. Form professional judgements
c. 1&3
d. Do not necessarily serve public interest
Financial statements, including consolidated financial statements should be approved

by............................
Select one:
a. Members
b. Board of directors
c. Chairman
d. CEO
Authorised capital of a company is `5 lac,40% of it is paid up. Loss incurred during the year is
`50,000.Accumulated loss carried from last year is `2 lac. The company has a Tangible Net Worth of
Select one:
a. `1 lac
b. (–) `50,000
c. Nil
d. `2.50 lac
................ Facilitates comparing performance of a company with peers by ensuring uniformity in

accounting policy being adopted by all the
Companies in the same industry.
Select one:
a. Accounting ledger
b. Balance sheet
c. GDP
d. GAAP
In last year the current ratio was 3:1 and quick ratio was 2:1.Presently current ratio is 3:1 but quick
ratio is 1:1.This indicates comparably
Select one:
a. Lower stock
b. High liquidity
c. Low Pro
tability
d. Higher stock
cost is the amount of benefitts foregone from the second-best alternative decision/action.
Select one:
a. Opportunity
b. Sunk
c. Direct
d. Indirect
The type of cost which changes with the change in alternative course of decision/actions whereas
irrelevant cost remains constant across all the alternative course of decision/ actions
Select one:
a. Irrelevant
b. None of these
c. Constant
d. Relevant
Zero base budgeting (ZBB) can be defined as
Select one:
a. It is a management process that provides for systematic consideration of all programs.
b. Justification of each program
c. A tool for efficient use of resources
d. All of these
The ____________ costs which would change as a result of the decision under consideration, whereas
irrelevant costs are those which would remain unaffected by the decision and therefore, only these
costs would be included in the analytical framework.
Select one:
a. Relevant costs
b. Incremental cost
c. Irrelevant costs
d. None of these
If selling price per unit increases and variable cost per unit decreases, and total fixed cost does not
change, then margin of safety (MOS) at a given level of output will
Select one:
a. Need more facts to answer
b. Remain unchanged
c. Decrease
d. Increase
The following is the basic assumption of variable costing technique
Select one:
a. Fixed costs resulting from the investment are product costs.
b. Fixed costs resulting from the investment are period costs.
c. Variable costs are period costs.
d. Fixed costs are sunk cost
Overheads include which of the following component?
Select one:
a. Indirect labour cost
b. Indirect material cost
c. All of these
d. Indirect expenses
Select one:
a. Fixed cost
b. Contingent cost
d. Opportunity cost
It is the cost of materials which cannot be conveniently assigned to a specific physical unit of
production.
Select one:
a. None of these
b. Indirect expenses Cost
c. Indirect material cost
There are three different types of cost behaviors which can be visualized with changes in volume or
level of activity:
Select one:
a. All of these
b. Mixed costs
c. Variable costs
d. Fixed costs
If the Rent of building os 12000 and there are two production departments A & B. Department A uses
one-third area of building and department B uses two-third area. How much overhead cost must be
apportioned to Department A
Select one:
a. 4000
b. 6000
c. 12000
d. 8000
Select one:
a. Variable
b. Fixed
c. Invariable
d. None of these
cost concept which is relevant to the short-term decision making is the
Select one:
a. Sunk cost
b. Opportunity costs
c. None of these
d. Committed cost
Select one:
a. Financial statement
b. Credit statement
c. Liabilities
d. Assets
Entities estimate the transaction price at contract inception which is important for allocating the
................ to different performance obligations in a single contract.
Select one:
a. Performance obligation
b. Revenue
c. Transaction price
d. Warranties
Indian companies present balance sheet in the format prescribed in ................ of the Companies Act,
2013
Select one:
a. Schedule III
b. Schedule II
c. Schedule V
d. Schedule IV
A firm that issues stocks and bonds to raise funds results in
Select one:
a. Increases equity
b. Increases cash
c. Increases liabilities
d. Decreases cash
Preference Dividend is to be treated as part of ______
Select one:
a. Operating Expense
b. Capital Expense
c. Financial Expense
d. Cash Expense
Statement of cash flows includes
Select one:
a. Investing activities
b. All of the above
c. Financing activities
d. Operating activities
The expenses in Statement of Profit and Loss are classifed as per their________
Select one:
a. Finacial-Non Financial
b. Nature
c. Variable-Fixed
d. Function
ROIC stands for
Select one:
a. Return of Investing company
b. Reserve of Investing company
c. Reserve of invested capital
d. Return on invested capital
It applies values in its conduct with all the stakeholders, including those with whom it has no
commercial dealing.
Select one:
a. Ethical business
b. Responsible business
c. Professional business
d. None of the above
Authorised capital of a company is `5 lac,40% of it is paid up. Loss incurred during the year is
`50,000.Accumulated loss carried from last year is `2 lac. The company has a Tangible Net Worth of
Select one:
a. `2.50 lac
b. `1 lac
c. (–) `50,000
d. Nil
For a non-finance entity, interest and dividend income are classifed as ................
Select one:
a. Operating income
c. Other income
d. Government grant
Net profit is profit after ................ and tax expense.
Select one:
a. Sales
b. Purchase
c. Non-operating
d. Interest
A company having one or more subsidiary companies are required to publish ................
Select one:
a. Cash flow statements
b. Consolidated Financial statement
c. Financial statement
d. Statement of profit & loss

Select one:
a. Financial statement analysis
b. Bank statement analysis
c. Credit details analysis
d. Financial accounting
If members of the auditing profession breach the trust that investors and other stakeholders place on
the profession and misreport on the true and fairness of financial statements due to negligence or
otherwise, the smooth functioning and growth of the capital market
Select one:
a. Will not be affected
b. Will be affected positively
c. Will get affected adversely
d. Will not be affected at all
Directors’ Responsibility Statement is a component of ..........................
Select one:
a. Auditor's report
b. Periodical report
c. Board of directors’ report
d. Technical report
For a non-finance entity, interest and dividend income are classified as ................
Select one:
a. Operating income
c. Other income
d. Government grant
Select one:
a. Financial statement analysis
b. Bank statement analysis

c. Credit details analysis
d. Financial accounting
Net profit is profit after ................ and tax expense.
Select one:
a. Sales
b. Purchase
c. Non-operating
d. Interest
Cash flow example from an investing activity is
Select one:
a. Repayment of long-term loan
b. Issue of debenture
c. Sale of investment by non-financial enterprise
d. Purchase of raw materials for cash In the Balance sheet of a firm, the debt equity ratio is 2:1. The
amount of long term sources is `12 lac.What is the amount of tangible net worth of the firm?
Select one:
a. `12 lac
b. ` 4 lac.
c. `8 lac
d. ` 2 lac
A company having one or more subsidiary companies are required to publish ................
Select one:
a. Cash
ow statements
b. Consolidated financial statement
d. Statement of profit & loss
measures the change in equity during the current period other than changes from transactions with
equity shareholders.
Select one:
a. Profit/Loss
b. Revenue
c. Capital
d. CoGS
All the assets that an entity controls are recognised in the ................
Select one:
a. Balance sheet
b. Accounting book
d. Profit & loss statement
Any economic resource that the entity uses to carry out its operations is an ................ in the context
of financial accounting.
Select one:
a. Debt
b. Liability
c. Loss
d. Asset
Debt Equity Ratio is 3:1, the amount of total assets `20 lac, current ratio is 1.5:1 and owned funds `3
lac. What is the amount of current
asset?
Select one:
a. none of the above
b. `12 lac
c. `5 lac
d. `3 lac
The statement of only parent
rm without including the subsidiary statements are known as_____
Select one:
a. Standalone Financial statement

Identifying ............. is the key to recognising revenue correctly.
Select one:
a. Operating income
b. Transaction price
c. Value of money
d. Performance obligations
Manoj is a professional accountant and leading a group, which cheats nave villagers through a Ponzi
scheme. She is arrested by the enforcement authority along with other members of the group. He has
violated the principle of ......
Select one:
a. Con
Dentiality
b. Professional behaviour
c. Dilemma
d. Self-interest threat
Equity is classified into...... and.........
Select one:
a. Equity capital, other equity
b. Equity capital, equity shares
c. Total equity, equity share
d. Equity shares, total equity
Select one:
a. Financial statement
b. Credit statement
c. Liabilities
d. Assets
Entities estimate the transaction price at contract inception which is important for allocating the
................ to different performance obligations in a single contract.
Select one:
a. Performance obligation
b. Revenue
c. Transaction price
d. Warranties
Select one:
a. Hazards
b. Quality
c. None of these
d. Safety
Zeta Ltd. Manufactures the furniture and sells it without furnishing. Their material and labour cost is
Rs 2000 per unit and Rent is Rs 25000 per month. Company sells 25 units per month. Now the
management decided to do proper finishing and polishing of furniture before selling it. This will lead
to additional Rs 500 variable cost per unit and selling price can be increased by Rs 800 per unit. What
is the
relevant cost to take this decision?
Select one:
a. Rs 3000 per unit
b. Rs 2000 per unit
c. Rs 2500 per unit
d. Rs 500 per unit (this seems more correct...2000 will anyways will be incurred )
The substance from which the product is made is known as material and all the materials which
become an integral part of the finished product and which can be conveniently assigned to specific
physical units are called as
Select one:
a. Indirect Material
b. Labour
c. None of these
d. Direct material
It is a system based on activities linking spending on resources to the products/services produced or

delivered to customers.
Select one:
a. Activity based cost
b. Activity rate cost
c. Activity cost driver rate
d. None of these
________ costs have been incurred by a decision that was made in the past and cannot be changed
by any decision that would be made in
the future.
Select one:
a. Budgeted cost
b. Targeted cost
c. Sunk cost
d. None of these
If selling price per unit increases and variable cost per unit decreases, and total fixed cost does not
change, then margin of safety (MOS) at a given level of output will
Select one:
a. Need more facts to answer
b. Remain unchanged
c. Increase
d. Decrease
A cost result from over costing of high-volume products and under costing of low-volume products is
Select one:
a. None of these
b. Activity cost driver rate
c. Cost distortion
d. Traditional costing system
There are three different types of cost behaviors which can be visualized with changes in volume or
level of activity:
Select one:
a. Mixed costs
b. Fixed costs
c. All of these
d. Variable
It is the cost of materials which cannot be conveniently assigned to a specifc physical unit of
production.
Select one:
a. Indirect material cost

b. Direct material cost
c. None of these
d. Indirect expenses Cost
Incremental or differential costs are useful in planning and decision-making and provide a device for
testing the proftability of increased output, and give a better measure than the
Select one:
a. Additional cost
b. Average Cost
c. None of these
d. Sunk Cost
The Pearl Merchandise Company has budgeted Rs 40,000 in sales for the month of December. The
company’s cost of goods sold is 30% of sales. If the company has budgeted to purchase Rs 18,000 in
merchandise during December, then the budgeted change in inventory levels over the month of
December is:
Select one:
b. Rs 15,000 Increase
d. Rs 6,000 Decrease
A margin is the excess of unit sale price over unit variable cost.
Select one:
a. Contribution
b. None of these
c. Situational
d. Cost
Select one:
a. Objectives
b. All of these
c. Strategies
d. Goals
Select one:
a. Indirect
b. Sunk
c. None of these
d. Direct
Select one:
a. Fixed cost
b. Opportunity cost
d. Contingent cost
If fixed cost is Rs 5000 and units produced in a year are 1000, then how much fixed cost will be
charged to product in case of variable costing?
Select one:
a. Rs 60
b. Rs 5000
c. Rs 5
d. Rs 0
The monetary benefits that would accrue from taking the alternative course are sacrificed and these
benefits, if measurable, should be added to the costs of the
Select one:
a. Money
b. All of these
c. Decision
d. Time
Activity based costing is primarily used for proper absorption of _______ to product
Select one:
a. Material cost
b. All of these
c. Overhead Cost
d. Labour Cost
Select one:
a. Fixed
b. Variable
c. Invariable
d. None of these
The costing indicates that the manufacturing fixed overheads are inventoriable costs; they are the
product costs and must be matched against the revenue of the year in which sales are made is
Select one:
a. Absorption cost
b. Variable cost
c. None of these
d. Fixed cost
If the total inspection cost is Rs 10 lacs and number of inspections done during the year are 10000,
what will be the overhead cost for a product which requires 5 inspections
Select one:
a. 20
b. 100
c. 500
d. 10000
The contribution margin ratio is 25% for Crowne Company and the break-even point in sales is Rs
200,000. If Crowne Company’s target operating proft is Rs 60,000, sales would have to be:
Select one:
a. Rs 260,000
b. Rs 440000
c. Rs 280000
d. Rs 240000
Direct Human efforts, both physical and mental, used for conversion of materials into finished
products is
Select one:
a. Labour
b. None of these
c. Production
d. Work
If the Rent of building os 12000 and there are two production departments A & B. Department A uses
one-third area of building and department B uses two-third area. How much overhead cost must be
apportioned to Department A
Select one:
a. 12000
b. 6000
c. 4000
d. 8000
Select one:
a. None of these
b. Transaction
c. Intensity
d. Duration
The ____________ costs which would change as a result of the decision under consideration, whereas
irrelevant costs are those which would remain unaffected by the decision and therefore, only these
costs would be included in the analytical framework.
Select one:
a. Incremental cost
b. Relevant costs
c. Irrelevant costs
d. None of these
Indirect Labour Cost cannot be conveniently traced to a specifc unit of product /output and includes
Select one:
a. Wages of storekeepers
b. Foremen, time-keepers
c. Directors’ and salesmen salary
d. All of these
Which of the following is feature of Zero base budgeting?
Select one:
a. Individual units are linked to organizational targets
b. All of these
c. Concentration on justification of the activity
d. Based on cost-benefits
A _______ break-even point is total cash fixed cost divided by contribution margin per unit.
Select one:
a. Cash
b. Profit
c. None of these
d. Loss
Avoidable costs are relevant costs when particular decision alternatives are
Select one:
a. None of these
b. Inexpensive
c. Compared
d. Expensive
Select one:
a. Goals
b. Strategies
c. All of these
d. Objectives
At a break-even point of 400 units, variable costs were Rs 400 and fixed costs were Rs 200. What will
the 401st unit sold contribution to operating profits before income taxes is
Select one:
a. Rs 1.00
b. Rs 2.00
c. Rs 0.50
d. Rs 1.50
Operating budgets relate to the physical activities or operations of a firm such as sales, production,
purchasing, debtors collection and creditors payment schedules and in specific terms, an operating
budget has the following components:
Select one:
a. Purchase budget
b. Sales budget
c. All of these
d. Production budget
Select one:
a. 100
b. 20
c. 10000
d. 500
Direct Human efforts, both physical and mental, used for conversion of materials into finished
products is
Select one:
a. None of these
b. Work
c. Production
d. Labour
A cost-profit analysis shows the relationship among the various ingredients of profit planning, namely,
unit sale price, variable cost, sales volume, sales mix and fixed cost is
Select one:
a. Cost-Weight-Profit Analysis
b. Quantity-Volume-Profit Analysis
c. Cost-Volume-Profit Analysis
d. None of these
The following is considered relevant cost under variable costing.
Select one:
a. Direct expense
b. All of these
c. Direct labour cost
Select one:
a. Safety
b. Hazards
c. None of these
d. Quality
________ costs have been incurred by a decision that was made in the past and cannot be changed
by any decision that would be made in
the future.
Select one:
a. Targeted cost
b. None of these
c. Budgeted cost
d. Sunk cost
Financial budgets are concerned with expected cash receipts or disbursements, financial position and
results of operations and in other words, a financial budget has the following components:
Select one:
a. Cash budget
b. Budgeted income statement
c. All of these
d. Budgeted statement of retained earnings
A _______ break-even point is total cash fixed cost divided by contribution margin per unit.
Select one:
a. Loss
b. Profit
c. None of these
d. Cash
Select one:
a. 500
b. 20
c. 100
d. 10000
Elements of cost includes
Select one:
a. Direct labour
b. Overheads
c. Direct material
d. All of these
Cost which can be identified with goods produced or purchased for resale is named as
Select one:
a. Unexpired Cost
b. Expired Cost
c. Product Cost
d. Period Cost
ABC system is a widely used classification technique, should exercise the maximum control
on items of inventory data
Most costly or slowest turning
P/V ratio = (Change in profit / Change in sales) x 100 = (9000/30000) x 100 = 30%
Fixed cost = (Sales x P/V ratio) – Profit = (270,000 x 0.3) – 6,000 = `75000
Break-even point = Fixed cost / PV ratio = 75,000 / 30% = `2,50,000

FIXED COSTS ÷ (SALES PRICE PER UNIT – VARIABLE COSTS PER UNIT)
Margin of safety at a profit of `24000 = Profit/ P.V ratio = 24000/30% = `80000
 Calculate profit under variable costing technique, when number of units

produced is 1,00,000 units, selling price is Rs 10 unit, variable cost is Rs 6
per unit and fixed costs are Rs 2,00,000 :: Rs 2,00,00

 Cash flow arising from the purchase and sale of dealing or trading securities
are classified as for a brokerage firm :: Operating Actiivities

 is an example of non-current assests :: Property, Plant & Equipment

 An asset is classified as a __ asset if its value is not determinable in fixed
amount of cash :: Non-monetary

 A current asset that can be transferred into cash within three months is
known as :: Cash Equivalent

 Financial Leverage (FLEV) of a company with __ cannont be calculated ::
Negative Net worth

 Which of the following items would be subtracted from net income when
using the indirect method of calculating cash flows provided by operating
activities :: Gain on sale of land

 Code of Ethics for accounting professional is based on: Integrity,
Objectivity, Confidentiality

 The part of cost of joint products that can be attributed exclusively and
wholly to a particular product, process, division or department is known as
:: Seperable

 Many manufacturers make more than one type of product and the relative
proportion of each product sold in the aggregate sales is known as the ::
The process further or sell now decision, the decision should be taken based on
__ ? :: Incremental Revenue & Incremental Cost
 refers to the ability to direct the use of, and obtain substantially all of the
remaining benefits from the asset :: Control of an asset

 Which of the following is an irrelevant cost :: Sunk Cost

 When Corporations seek to hide their true financial situation, the pressure
to engage in ___ bookkeeping technique falls on the accountant :: Unethical
and Illegal

 Earing Per Share (EPS) is calculated based on …….. :: Net Profit

 The Cost Allocation process does not comprise of one of the basic activities
which is :: Rationalizing of the Activities

 Reorganise balance sheet of a company shows, equity 100 lakhs and net
financial assets of 30 lakhs. The net operating asset (also called invested
capital of the balance sheet was??

 Building is an example of :: Non-Current Asset
 ___ are the only self-generated intangible to be recognized in financial
statements by GAAP :: Goodwill

 Fixed costs caused by purchase of capacity producing assets such as plant
and equipment are called as :: Committed Cost

 Construction Ltd. Plans to discontinue its interior decoration segment. Last
year, this segment generated a contribution margin of Rs 60,000 and
incurred Rs 80,000 in fixed cost. Discontinuing the segment will allow the
company to avoid half of the fixed costs. What effect is expected to occur to
the company’s overall product :: 20,000 decrease

The overheads are absorbed into different product under activity activity costing system
Using level of activity used in producing the cost unit

Relevant costs are costs which would change as a result of
decision
About 60 items are required everyday for a machine a fixed cost of 40 per order is incurred
for placing an order
1500
Gross profit margin is calculated by dividing gross profit by
cost of sale
Which of the following would not cause the breakeven point to change
Sales volume decrease
Under absorption costing which of the following fixed expenses are charged to cost of
goods sold
All of the above
NUMERICALS --------------
A firm requires 8000 nos of a certain component, which is bought at 60 each.
A 1000
B 900
C 800
D 400
Q. The crucial step in the C-V-P analysis is the determination of break even point which is defined at the
sales level at which--------------
The total revenue equals total costs
Q. When a department or product line is dropped, the common fixed costs which had been allocated to that
department:
A) are eliminated.
B) become variable costs.
C) are allocated to the remaining departments or product lines.
D) become sunk costs.
Q. is not charged on items included in capital work in progress
Depreciation
Porter Corporation is working on its direct labour budget for next two months. Each unit
of output requires 0.84 direct labour hours. The direct labour rate is 9.40 per direct labour
hour. The production budget calls for producing 2,100 units in June and 1,900 units in July.
If the direct labour works force is fully adjusted to the total direct labour hours needed
each----------------------------------
31,584
Q. Automobile company produced 5000 part each year that are used in one of its products
the unit cost of producing this part is variable cost------------------
20000 increase
Which of the following costs are not considered in a differential analysis for a make-or-
buy decision?
Fixed overhead that will continue if the item is purchased.
Q. for an organisation involved in construction of diverse type of housing like HIG, MIG
and------------
absorption costing
Q. The eoq model as a technique to determine the economic order quantity
All of these
Q. Costs that tend to vary in direct proportion in a one-to-one relationship to changes in

production activities
Variable cost
Q. Expense pertaining to management of business like office rent, lightning and heating,
Office and administration expenses
Q. Only fixed costs are reckoned in sale of further process type of decision-making
incrimental
Q. there is no complication of over-absorption of factory overheads or eve their….
absorption costing.
Q. The following information pertains to Tailler Co: sales 800000 variable cost…..
50000
Q : ABC ltd plans to produce and sell 4000 units (****)

Ans :0.60
Q: Tailer company sales 800000 variable cost 1600000 fixed cost 40000
Ans : 160000
Q: Sales budget is
Ans :Functional budget
Q : Inventory control minimum level indicates

Ans: lowest level of stock held
Q: P company produces three type of product A,B,C

Ans :300000 , 600000 , 93000
Q: A company manufacturing a single product for which selling and cost price
Ans :5000 units
Q: Compute the machine hour rate cost of machine is 32000 estimated scrap
Ans :Rs 6
Q: If maximum reorder period is 8 weeks and reorder level is 1600 units (***)
Ans :200
Q : when preparing a production budget the quantity to be produced

Ans : sales quantity – opening stock + closing stock
Q. A company makes and sells a single product . If the fixed cost incurred in making and selling the
product increases
Ans : The break even point will increase
Q: ______________________companies earn interest from investment and therefore for them

investment income is not revenue .
Ans: Non- Financial
Q: Satin LTD disclosed the information …2019 and 2018 rent …..as 31st march 2019 is 11500.
Ans : 27700
Q : The company average cost per unit to make in house component is more than the cost to buy
from out side .
Ans : l and lV
Q:Factory over head cost refers to all indirect manufacturing cost which cannot be identified with
particular ….unit of products it includes ___________
Ans : Depreciation on factory plants and .

Q: which of the following is true for flexible budget .
Ans – I and III
Q: ABC LTD sella single product for rs 9 per unit ------sales were 180000----ABC LTD margin
safety in unit was
Ans :160000
Q: Following information is available of GGSS ltd for year ended dec 2020-----using the
absorption
Ans : 1900
Q: . The overall PV ratio of XYZ ltd is 60%. The marginal cost of the product X is estimated at
rs 50 Determine selling price of product Z?
Ans 125
Q:. ABC system is widely used classification technique to identify various items of inventory
for purpose of inventory control and recommends that a firm should exercise the maximum
control on those item of inventory that are .
Ans : Most costly and or slowest
Q:. For cash ltd estimated sales for April , may June July august are 46000 , 48000 28000
44000 . Incase 50% sales are realized in the next month and balance in the next
month……determine cash collection from sales in June and July
Ans: 14000 and 22000
Q: In marginal costing input output ratio is the ration on

Ans : Non of these
Q: Cost which can be easily identified with a department process or product are termed as :-
----
Ans : Traceable cost
Q: If the rent of the factory is rs 10000 per month and machine occupies 1/4th space of
factory
Ans : 30 per hour
Q: Tibu company expects sales of product W to be 600000……company production of

product W for the month of April should be
Ans: 60000 units
Q: Following information is available for Prime LTD for year ended march 2020 fixed cost rs
80000 ……….. during the year marginal cost . Ans : 700000
Q: Profit planning is done in the case of
Ans : CVP analysis
Q: From the following information calculate the net profit ratio . Particular sales 2520000.
Fixed assets 1440000 cost of sales 1920000, current liabilities 50000
Ans : 0.1412
Q: Product X generates a contribution a contribution to sales ratio of 30 % fixed cost directly

attributable to X amount to rs 75000 per month . Calculate the sales revenue required to
achieve a monthly profit of 15000
Ans 276000
Q: Building is an example of Non current assets
Q: If the sales price will increase which of the following are true ;
Ans : I & ll (both will increase)
Q: In the budget that gives summary of all the functional budget and projected profit and
loss account is known as___________
Ans : Master budget
Q Factory over head should be absorbed on the basis of:

Ans: Relationship to cost incurred
Q: These are the example of intangible asset .

Ans : All of these
Q: Gain from the sale of item of PP&E should be included as :

Ans : Other income.
Q: If average consumption is 15 units per days………..4days . Find out the danger level .
Ans : 60 units
Q: A budget which is prepared keeping in mind the changing level of activity is termed as
Ans : Flexible budget
Q: Bad debts and advertising expenditure are the part of

Ans : S&D over head
Q:The cost which has been created in the past and can not changed by any decision that will
be made in future .
Ans : Sunk cost
Q: A document which sets our the responsibility of the person engaged in the routine of and
the form of records required for the budgetary control known as : Ans : Budget manual
Q: Which of the following will not result in an increase in the net working capital.
Ans : II and IV
Q: _______________ is the traditional method of income determination which includes all

manufacturing cost .
Ans : Absorption cost.
Q: what will be sale of desired profit if fixed cost is rs 25000 profit is 15000 and contribution
per unit is 10 .
Ans : 4000 units .
Q: One of the following is the correct formula for gross margin under full costing
Ans : sales revenue less cost of goods
Q: According to flexibility budget can be classified into

Ans B & C both ( Purchase and flexibility Budget)
Q: Of the four cost shown below which would not be included in the cash budget of an
insurance form .
Ans : commission paid to agents
Q: Which of the following statement are true A) Financial statement are only interim report
Ans : Option B and C
Q: what is the main difference between traditional budgeting and and zero based
budgeting(ZBB)?
Ans :ZBB starts at zero plus income from last year .
Q: Bank generally sees that debt equity ratio is equal to or below

Ans : 2:1
Q: Assumption regarding the VCP graph are

Ans :All of these
Q: There are overheads which remain constant within the capacity of the organisation
Ans : Fixed overhead
Q: Lead time 5 weeks , average weekly consumption 28 units . what should be the
reordering level .
Ans: 150 units
Q: Current ratio of a concern is 1 its net working capital will be

Ans : Nil
Q: Annual requirement is 100000 units , 5 order cost 20 per order carrying cost ,1per unit
and lead time is 2 weeks . The economic order quantity will be .
Ans :2000 units
4/25/2021 Online Assignment: Attempt review
Started on Sunday, 25 April 2021, 6:48 PM

State Finished
Completed on Sunday, 25 April 2021, 7:32 PM
Grade 18.00 out of 20.00 (90%)
Question 1
Complete
Which one is a current asset?
Select one:
a. Furniture 
b. Cash
c. Land
d. Investment
Question 2
Complete
If liabilities total Rs70,000 and stockholders' equity totals Rs50,000, then total assets must be:
Select one:
a. Rs80,000
b. Rs120,000
c. Rs20,000
d. Rs30,000

Question 3
Complete
An example of revenue expenditure is:
Select one:
a. Purchase Of Land
b. Salaries
c. Lease
d. Purchase Of Buildings 
Question 4
Complete
The 31st March 2019, balance sheet of Beta Ltd., reported total assets of Rs1,150,000 and total liabilities of Rs750,000. The following
information relates to the year 2019: i) Beta Ltd issued an additional 10,000 shares of common stock at Rs20 per share on July 1, 2019. ii)
Beta Ltd, paid dividends totaling Rs90,000. iii) Net income for 2020 was Rs105,000. No other changes occurred in stockholders’ equity during
2020. The stockholders’ equity section of the 31st March 2020, balance sheet would report a balance of
Select one:
a. Rs215,000.
b. Rs600,000.
c. Rs400,000.
d. Rs615,000.

Question 5
Complete
Salaries paid to sta will be debited to which A/c?
Select one:
a. Expense A/C
b. Cash A/C 
c. Sta A/C
d. Salary A/C
Question 6
Complete
The amount of purchases for a period is presented in the ______________.
Select one:
a. Revenue Section Of The Income Statement
b. Expense Section Of The Income Statement
c. Liabilities Section Of The Balance Sheet
d. Cost Of Goods Sold Section Of The Income Statement

Question 7
Complete
Which one of the following is capital expenditure?
Select one:
a. Cost Of Advertisement
b. Purchase Of A Truck
c. Purchase Of Raw Material
d. Purchase Of Machine Oil 
Question 8
Complete
A rm has reported a pro t of Rs.1,47,000 for the year ended 31-3-2014 after taking into consideration the following items. i) The cost of an
asset Rs.23,000 has been taken as an expense. ii) The rm anticipated a pro t of Rs.12,000 on the sale of an old furniture, iii) Salary of
Rs.7,000 outstanding for the year has not been taken into account. iv) An asset of Rs.85,000 was purchased for Rs.75,000 and was recorded
in the books at Rs.85,000. What is the correct amount of pro t to be reported in the books?
Select one:
a. Rs.1,63,000
b. Rs.1,41,000
c. Rs. 1,51,000
d. Rs.1,47,000

Question 9
Complete
Wages paid to workers must be debited to _________ account
Select one:
a. O ces Expenses
b. Factory Expenses 
c. Machinery
d. Wages
Question 10
Complete
The system whereby we record dual e ect of each transaction is known as:
Select one:
a. Double Entry Book Keeping
b. Dual Aspects Of Transactions
c. Management Accounting
d. Balance Sheet Accounting

Question 11
Complete
The net worth of a limited company equal to
Select one:
a. Fixed Assets Current Liabilities.
b. The Total Of Shareholders / Proprietor’S Funds.
c. Fixed Assets Long Term Liabilities.
d. Current Assets Current Liabilities. 
Question 12
Complete
A business owned and run by one person is called:
Select one:
a. Sole Proprietorship
b. Partnership
c. Limited Company
d. None Of The Given Options
Question 13
Complete
The following relate to Delta Inc. for the year 2019. What is the ending inventory?
Purchases 540,000
Beginning Inventory 80,000
Purchase Returns 10,000
Sales 80,000
Cost of Goods Sold 490,000
Select one:
a. Rs 260,000

b. Rs 120,000
c. Rs 140,000
d. Rs 210,000
Question 14
Complete
Telly Company had retained earnings of Rs100,000 at the end of last year. For the current year, income was Rs40,000 and dividends
Rs30,000. What is the balance in retained earnings at the end of the current year?
Select one:
a. Rs 120000
b. Rs170000
c. Rs 110000
d. Rs 90000

Question 15
Complete
Any expenditure that bene ts the business for several accounting years is regarded as:
Select one:
a. Revenue Receipt
b. None Of The Given Options
c. Revenue Expenditure

Question 16
Complete
Depreciation is provided on:
Select one:
a. Intangible Assets.
b. Outward Charges.
c. Fixed Assets.
d. Current Assets.

Question 17
Complete
A new rm commenced business on 1st January, 2006 and purchased goods costing Rs. 90,000 during the year. A sum of Rs. 6,000 was
spent on freight inwards. At the end of the year the cost of goods still unsold was Rs. 12,000. Sales during the year Rs.1,20,000. What is the
gross pro t earned by the rm?
Select one:
a. Rs. 30,000
b. Rs. 38,000
c. Rs. 42,000 
d. Rs. 36,000
Question 18
Complete
Capital =
Select one:
a. Asset
b. All The Above
c. Asset - Liabilities
d. Liabilities

Question 19
Complete
The current liability section of the balance sheet should include:
Select one:
a. Goodwill
b. Accounts Payable
c. Buildings
d. Land Held For Speculation Purposes 
Question 20
Complete
Which of the following is not a current asset?
Select one:
a. Unearned Rent Income
b. Prepaid Interest
c. Material Inventory
d. Marketable Securities

 
BBA Semester-VI
Subject : Management Accounting
Multiple Choice Questions
Sr. No. Multiple Choice Questions
1 The cost that tends to remain constant irrespective of the level of activity is called
_______.
(a) Variable cost
(b) Fixed cost
(c) Total cost
(d) All of the above
2 Cost Accounting restrict itself with _______ transactions.
(a) Financial
(b) Spot
(c) Historical
(d) Administrative
3 Following is (are) the method(s) of measuring labour turnover.
(a) Replacement Method
(b) Separation Method
(c) Flux Method
4 Following is (are) the example(s) of semi-variable overheads.
(a) Maintenance cost
(b) Electricity
(c) Health and Accident Insurance
5 _________ indicates the financial status of the business at given period.
(a) Balance sheet
(b) Accounting ledger
(c) General ledger
6 In Cash budget, Non operating cash inflow include(s)
(a) Receipt of loan/borrowings
(b) Issue of shares
(c) Sale of fixed assets
7 Sales Budget is a forecast expressed in -
(a) Quantity
(b) Money
(c) Both (a) and (b)
(d) None of the above
8 Following is used as tool for Cost Control
(a) Marginal cost
(b) Historical cost
(c) Standard cost
9 Management accounting assists the management
(a) Only in control
(b) Only in direction
(c) Only in planning
(d) In planning, direction and control
10 Management accounting is deals with -
(a) Quantitative Information
(b) Qualitative Information
11 Which of the following is an advantage of standard costing?
(a) Measuring efficiency
(b) Facilitates cost control
(c) Determination of variance
12 Which of the following is not a functional budget?
(a) Labour budget
(b) Cash budget
(c) Materials budget
(d) Expenses budget
13 Which is the mostly likely purpose of budgeting?
(a) Planning and control of an organization's income and expenditure
(b) Preparation of a five-year business plan
(c) Company valuation
(d) Assess the non-financial performance of an organization
14 __________ Accounting becomes a source of information for Management Accounting.
(a) Financial
(b) Cost
15 Calculate the production budget from the following data: sales 89,350 units; opening
inventory 23,864 units; closing inventory 33,156 units.
(a) 80,058 units
(b) 1,46,370 units
(c) 32,320 units
(d) 98,642 units
16 Fixed budget is useless for comparison when the level of activity -
(a) Increases
(b) Fluctuates both ways
(c) Decreases
(d) Constant
17 The budget committee consists of -
(a) Managers
(b) Budget officers
(c) Creditors
18 A budget centre is -
(a) Department or part of the department
(b) Meeting place for budget committee
(c) Office of the budget officer
19 The main objective of budgetary control is -
(a) To define the goal of the firm
(b) To coordinate different departments
(c) To plan to achieve its goals
20 Production budget is -
(a) Dependent on purchase budget
(b) Dependent on sales budget
(c) Dependent on cash budget
21 Sales budget shows the sales details as -
(a) Month wise
(b) Product wise
(c) Area wise
22 An example of long period budget is -
(a) R & D budget
(b) Master budget
(c) Sales budget
(d) Personnel budget
23 The budgets are classified on the basis of -
(a) Time
(b) Function
(c) Flexibility
24 Budget relating to the key factor is prepared -
(a) After other budgets
(b) With other budgets
(c) Before other budgets
25 Key factor is also known as -
(a) Limiting factor
(b) Governing factor
(c) Principal factor
26 In responsibility accounting system -
(a) Budgets are prepared
(b) Actual performance is recorded
(c) The performance is reported
27 The responsibility accounting emphasizes the performance of -
(a) System
(b) Men
(d) None of these
28 The responsibility accounting is also called -
(a) Profitability accounting
(b) Activity accounting
(d) None of these
29 The responsibility accounting is the part of -
(a) Financial accounting
(b) Management accounting
(c) Mechanized accounting
(d) None of these
30 The responsibility accounting is a controlling tool for -
(a) Top‐level management
(b) Lower level management
(c) Middle level management
(d) None of these
31 Which of the following system emphasizes on cost control ?
(a) Cost accounting
(b) Responsibility accounting
(c) Financial accounting
(d) None of these
32 The responsibility centres come under the responsibility of -
(a) Cost accountants
(b) Management accountant
(c) Responsibility managers
(d) Auditor
33 The subdivision of responsibility centre is -
(a) Expense centre
(b) Profit centre
(c) Investment centre
34 The accounting department in an organization is -
(a) Investment centre
(b) Expense centre
(c) Profit centre
35 What is the main advantage of responsibility accounting ?
(a) Improves performance
(b) It fixes responsibility
(c) Helpful in decision making
36 The responsibility accounting is a system by which the responsibility is assigned to the
concerned persons -
(a) To increase sales
(b) To control cash
(c) To increase production
37 The contribution of accounting department in an organization -
(a) Cannot be measured in monetary terms
(b) Can be measured in monetary terms
(c) May or may not be measured in monetary terms
38 According to responsibility accounting, the entire organization is divided into various -
(a) Business centre
(b) Profit centre
(c) Responsibility centre
39 It may not be ______ to measure exactly the output of service departments in an
organization.
(a) Feasible
(b) Necessary
(c) Either (a) or (b)
(d) None of these
40 Internal transfer of process at profit _________ of the company.
(a) Will not increase the asset
(b) Will increase the asset
(c) Can’t say
(d) Inadequate information
41 Budgetary control __________ replace management in decision‐making.
(a) Can
(b) Cannot
(c) Sometimes
(d) Inadequate data
42 The success of budgetary control system depends upon the willing cooperation of ….…
(a) Shareholders
(b) Management
(c) Creditors
(d) All the functional areas of management
43 A key factor is one which restricts ……
(a) The volume of production
(b) The volume of sales
(c) The volume of purchase
44 The classification of fixed and variable cost is useful for the preparation of ……
(a) Master budget
(b) Flexible budget
(c) Cash budget
(d) Capital budget
45 The primary objective of management accounting is –
(a) To provide shareholders and potential investors with useful information for decision
making
(b) To provide banks and other creditors with information useful in making credit
decisions
(c) To provide management with information useful for planning and control of
operations
(d) To provide the relevant taxation authorities with information about taxable income
46 In ‘make or buy’ decision, it is profitable to buy from outside only when the supplier’s
price is below the firm’s own ___________.
(a) Fixed Cost
(b) Variable Cost
(c) Total Cost
(d) Prime Cost
47 __________ is a detailed budget of cash receipts and cash expenditure incorporating
both revenue and capital items.
(a) Cash Budget
(b) Capital Expenditure Budget
(c) Sales Budget
(d) Overhead Budget
48 Sunk costs are __________.
(a) Relevant for decision making
(b) Not relevant for decision making
(c) Cost to be incurred in future
(d) Future costs
49 Abnormal cost is the cost ___________.
(a) Cost normally incurred at a given level of output
(b) Cost not normally incurred at a given level of output
(c) Cost which is charged to customer
(d) Cost which is included in the cost of the product
50 Responsibility Centre can be categorised into ___________.
(a) Cost Centres only
(b) Profit Centres only
(c) Investment Centres only
51 A profit centre is a centre ___________.
(a) Where the manager has the responsibility of generating and maximising profits
(b) Which is concerned with earning an adequate Return on Investment
(d) Which manages cost
52 Management Accounting is and financial accounting differ in that management
accounting information is prepared –
(a) Following prescribed rules
(b) Using whatever methods the company finds beneficial
(c) For shareholders
(d) To summarize the whole company with little detail
53 Purpose of Management Accounting is to –
(a) Past orientation
(b) Help banks make decisions
(c) Help managers make decisions
(d) Help investors make decisions
54 Management Accounting is the branch of accounting concerned with reporting to –
(a) Internal Managers
(b) Shareholders
(c) The Government
(d) Bankers
55 Which of the following does NOT describe management accounting?
(a) Evaluation of segments or products within the firm
(b) Emphasis on the future
(c) Externally focused
(d) Detailed information
56 Management accounting reports are prepared
(a) To meet the needs of decision makers within the firm
(b) Whenever shareholders request them
(c) According to guidelines prepared by the shares and Financial Services Authority
(d) According to financial accounting standards
57 Management accounting is primarily concerned with -
(a) Providing investors with useful information for valuing securities.
(b) Providing creditors information on the status of their loans.
(c) Providing managers with relevant information to help achieve organizational goals.
(d) Providing the relevant taxation authorities with information to determine the amount
of taxes owed.
58 Which matters are taken into consideration while preparing production budget ?
(a) The estimate of the number of units to be produced during the budget period.
(b) Estimate of number of units to be sold.
(c) Policy regarding the wage fixation for labourers.
(d) Policy regarding the selection of suppliers from whom materials would be purchased.
59 Which of the following matter is to be taken into account which preparing Material
Purchase Budget ?
(a) The supplier from whom materials are to be purchased.
(b) The procedure of storing and preserving materials after they are received.
(c) The prices at which receipts and issues of materials are to be recorded in stores
ledger.
(d) The maximum and minimum quantities of materials to be purchased.
60 Which of the following matter is relevant with cash receipts and disbursement method of
preparing Cash Budget ?
(a) While determining the cash payments, it is necessary to estimate the credit sales.
(b) While estimating cash receipts, it is not necessary to estimate the figure of credit
sales.
(c) Debtors Ratio is used to estimate the timings when cash collections would be
obtained from credit sales.
(d) While estimating the total amount of cash payment for purchases, it is necessary to
decide from which suppliers materials are to be purchased.
61 Budget period depends upon -
(a) The type of budget
(b) The nature of business
(c) The length of trade cycles
62 Usually the production budget is stated in terms of -
(a) Money
(b) Quantity
(d) None
63 Recording of actual performance is -
(a) An advantage of budgetary control
(b) A step in budgetary control
(c) A limitation of budgetary control
64 Budgetary control system helps the management to eliminate -
(a) Undercapitalization
(b) Overcapitalization
(d) None
65 Budgetary control facilitates easy introduction of the -
(a) Marginal costing
(b) Ratio analysis
(c) Standard costing
(d) Subjective matter
66 Budgetary control system acts as a friend, philosopher and guide to the -
(a) Management
(b) Share holders
(c) Creditors
(d) Employees
67 Budgetary control system defines the objectives and policies of the -
(a) Production department
(b) Finance department
(c) Marketing department
(d) Subjective matter
68 A budget is tool which helps the management in planning and control of -
(a) All business activities
(b) Production activities
(c) Purchase activities
(d) Sales activities
69 In responsibility centre, the output is called as -
(a) Revenue
(b) Cost
(d) None
70 If the responsibility centre gets more revenue from output, then it is called -
(a) Investment centre
(b) Cost centre
(c) Profit centre
(d) Expense centre
71 Cost Unit is defined as -
(a) Unit of quantity of product, service or time in relation to which costs may be
ascertained or expressed
(b) A location, person or an item of equipment or a group of these for which costs are
ascertained and used for cost control.
(c) Centres having the responsibility of generating and maximising profits
(d) Centres concerned with earning an adequate return on investment
72 Fixed cost is a cost -
(a) Which changes in total in proportion to changes in output
(b) Which is partly fixed and partly variable in relation to output
(c) Which do not change in total during a given period despise changes in output
(d) Which remains same for each unit of output
73 Uncontrollable costs are the costs which be influenced by the action of a specified
member of an undertaking. -
(a) can not
(b) can
(c) may or may not
(d) must
74 Element/s of Cost of a product are -
(a) Material only
(b) Labour only
(c) Expenses only
(d) Material, Labour and expenses
75 Overhead refers to -
(a) Direct or Prime Cost
(b) All Indirect costs
(c) Only Factory indirect costs
(d) Only indirect expenses
76 Which of the following is not a method of cost absorption?
(a) Percentage of direct material cost
(b) Machine hour rate
(c) Labour hour rate
(d) Repeated distribution method
77 A Local Authority is preparing cash Budget for its refuse disposal department. Which of
the following items would not be included in the cash budget?
(a) Capital cost of a new collection vehicle
(b) Depreciation of the machinery
(c) Operatives wages
(d) Fuel for the collection Vehicles
78 Which of the following characteristics does NOT pertain to management accounting?
(a) Provides information and estimates about future activity
(b) Generates specific-purpose financial statements and reports
(c) Provides financial and operating data multidisciplinary in scope
(d) Has externally imposed standards
79 A budget which is prepared in a manner so as to give the budgeted cost for any level of
activity is known as -
(a) Master budget
(b) Zero base budget
(c) Functional budget
(d) Flexible budget
80 ___________ is a summary of all functional budgets in a capsule form.
(a) Functional Budget
(b) Master Budget
(c) Long Period Budget
(d) Flexible Budget
81 When the sales increase from Rs. 40,000 to Rs. 60,000 and profit increases by Rs. 5,000,
the P/V ratio is -
(a) 20%
(b) 30%
(c) 25%
(d) 40%
82 From following which is not a principle of good reporting ?
(a) Simplicity
(b) Accountability
(c) Promptness
(d) Accuracy
83 From day to day operation which report is prepare ?
(a) Routine
(b) Special
(c) Investigative
(d) External
84 Any special event happen into the business then which report is prepared ?
(a) Routine
(b) Special
(c) External
(d) Control
85 Internal report use for _______________ .
(a) Share holders
(b) Government
(c) Managerial personnel
(d) Creditors
86 External report use for _______________ .
(a) Top level management
(b) Middle level management
(c) Lower level management
(d) Shareholders
87 From following which is not a routine report ?
(a) Production report
(b) Sales report
(c) Investigation
(d) Administration report
88. _______ is devoted to providing information for external users.

a. Management accounting
b. Financial accounting
c. Internal accounting
d. Cost accounting
89. Financial accounting is primarily concerned with providing financial reports to all of
the following EXCEPT
a. creditors such as banks and other financial institutions.
b. creditors such as suppliers.
c. shareholders of the company.
d. management of the firm.
90. Management accounting and financial accounting differ in that management accounting
information is prepared
a. following prescribed rules.
b. using whatever methods the company finds beneficial.
c. for shareholders.
d. to summarize the whole company with little detail.
91. The primary objective of management accounting is

a. to provide shareholders and potential investors with useful information for
decision making.
b. to provide banks and other creditors with information useful in making credit
decisions.
c. to provide management with information useful for planning and control of
operations.
d. to provide the relevant taxation authorities with information about taxable
income.
92. Management accounting is the branch of accounting concerned with reporting to

a. internal managers.
b. shareholders.
c. the government.
d. bankers.
93. Which of the following characteristics does NOT pertain to management accounting?
a. provides information and estimates about future activity
b. generates specific-purpose financial statements and reports
c. provides financial and operating data multidisciplinary in scope
d. has externally imposed standards
94. Which of the following does NOT describe management accounting?

a. evaluation of segments or products within the firm
b. emphasis on the future
c. externally focused
d. detailed information
95. Management accounting reports are prepared

a. to meet the needs of decision makers within the firm.
b. whenever shareholders request them.
c. according to guidelines prepared by the shares and Financial Services Authority.
d. according to financial accounting standards.
96. Cost accounting
a. is concerned with assigning costs to various cost objects.
b. attempts to satisfy the costing objectives of both financial accounting and
management accounting.
c. provides cost information that supports planning, controlling, and decision
making.
d. All of the above descriptions are true.
97. Which of the following costing activities is associated with the financial accounting
system?
a. determining the cost of a department
b. determining the cost of goods sold for financial statements
c. preparing budgets
d. determining the cost of a customer
98. Which of the following activities is NOT associated with the financial accounting
information system?
a. reporting on the cost of quality
b. reporting to the shareholders
c. preparing reports for the tax authorities
d. preparing a statement of cash flows
99. Which of the following cost management tools supports the firm's concentration on the
delivery of value to the customer?
a. service industry growth
b. global competition
c. preparing an earnings report for external reporting
d. value-chain analysis
100. Factors that have led to a global market for manufacturing and service firms are
a. improved transportation and communications systems.
b. improved telemarketing and communications.
c. improved distribution and transportation systems.
d. None of these factors have contributed.
101. Which of the following activities is NOT significant to the advancement of information
technology?
a. enterprise resource planning software
b. emergence of electronic commerce
c. theory of constraints
d. decision support systems
102. Software that has integrated system capability using real time data is
a. enterprise resource planning software.
b. on-line analytic programs.
c. computer-assisted engineering software.
d. none of the above.
103. Automation of the manufacturing environment is associated with increases in
a. inventory.
b. capacity.
c. processing time.
d. none of these.
104. Total quality management emphasizes
a. zero defects.
b. continual improvement.
c. elimination of waste.
d. all of the above.
105. Which of the following emerging themes in cost accounting deals with managers striving
to create an environment that will enable workers to manufacture perfect (zero-defect)
products?
a. advances in information technology
b. time as a competitive element
c. global competition
d. total quality management
106. Competitive advantage is established by
a. providing more customer products than competitors.
b. providing better quality than competitors.
c. providing greater customer value for less cost than competitors.
d. providing greater efficiencies than competitors.
107. Improvement in time performance is most likely NOT enhanced by

a. redesign of products.
b. adding processes in production.
c. eliminating waste.
d. eliminating nonvalue-added activities.
108. Which of the following statements is NOT true about world-class firms?
a. World-class firms are firms that are poor in customer support.
b. World-class firms know their market and their products.
c. World-class firms strive continually to improve product design, manufacture,
and delivery.
d. World-class firms can compete with the best of the best in a global environment.
109. Monitoring the number of defects produced is an example of the management function of
a. planning.
b. control.
c. decision making.
d. both a and c.
110. Performance reports are accounting reports that compare

a. planned data with actual data.
b. audited data with actual data.
c. managers' bonuses with performance ratings by supervisors.
d. actual data with industry standards.
111. Which of the following statements correctly distinguishes between financial and
management accounting?
a. Management accounting reports on the whole organization.
b. Financial accounting is oriented toward the future.
c. Financial accounting is primarily concerned with providing information for
internal users.
d. Management accounting is oriented more toward the planning and control
aspects of management.
112. Setting the company's profit targets for the upcoming year is an example of the
management function of
a. planning.
b. control.
c. variance analysis.
d. internal auditing.
113. The planning process includes

a. setting objectives.
b. identifying means of achieving the objectives.
c. making decisions.
d. all of the above.
114. Management accounting is concerned with which kind of decision?

a. product costing and pricing
b. continuous operational improvement
c. financial control
d. all of the above
115. Management accounting:

a. provides a framework to evaluate information in light of an organization's goals.
b. provides relevant information to managers.
c. provides relevant information to meet specific needs of persons inside the
organization.
d. all of the above
116. Management accounting is primarily concerned with:

a. providing investors with useful information for valuing securities.
b. providing creditors information on the status of their loans.
c. providing managers with relevant information to help achieve organizational
goals.
d. providing the relevant taxation authorities with information to determine the
amount of taxes owed.
Multiple Choice Questions Answers
Question Answer Question Answer Question Answer Question Answer
No. No. No. No.
1 B 31 B 61 D 91 C
2 C 32 C 62 C 92 A
3 D 33 D 63 B 93 D
4 D 34 A 64 C 94 C
5 A 35 D 65 C 95 A
6 D 36 B 66 A 96 D
7 C 37 A 67 D 97 B
8 C 38 C 68 A 98 A
9 D 39 C 69 A 99 D
10 C 40 A 70 C 100 A
11 D 41 B 71 A 101 C
12 A 42 D 72 C 102 A
13 A 43 A 73 A 103 B
14 C 44 B 74 D 104 D
15 D 45 C 75 B 105 D
16 B 46 B 76 D 106 C
17 B 47 A 77 B 107 B
18 A 48 B 78 D 108 A
19 C 49 B 79 D 109 B
20 B 50 D 80 B 110 A
21 D 51 A 81 C 111 D
22 A 52 B 82 B 112 A
23 D 53 C 83 A 113 D
24 C 54 A 84 B 114 D
25 D 55 C 85 C 115 D
26 D 56 A 86 D 116 C
27 B 57 C 87 C
28 C 58 A 88 B
29 B 59 D 89 D
30 A 60 C 90 B
Question 1 of 30
O Cost ascertainment. ●
O Tax compliance
O Financial audit
O Corporate social responsibility
Question 2 of 30:
A company has fixed costs of Rs. 50,000 and variable costs per unit of output of Rs. 8. If its sole
product sells for Rs. 18, what is the break-even quantity of output?
O 5000 ●
O 5500
O 3000
O 300
Question 3 of 30:
O Fixed costs ●
O Variable cost
O Incremental cost
O Sunk cost
Question 4 of 30
As per ABC cost categorizations, direct materials and direct labour are categorised as
O Unit-level costs.
O batch level costs.
O product-level costs.
O facility-level costs.
Question 5 of 30:
ABC helps managers make improved __
O pricing decisions
O inventory estimations
O profitability decisions
O All of the above ●
Question 6 of 30
O Short-term budget
O Current budget
O Long-term budget ●
O None of the above
Question 7 of 30
Which of the following is one of the two approaches used to analyse data in the decision to keep or
discontinue a segment?
O comparing contribution margins and fixed costs ●

O comparing contribution margins and variable costs
O comparing gross margin and variable costs
O comparing total contribution margin under each alternative
Question 8 of 30.
The cost which cannot be carried forward to next accounting period is called
O absorbed cost
O expired cost
O unexpired cost
O accrued cost
Question 9 of 30
The cost which refers to the value of what you have to give up in order to choose something else is
called as?
O Sunk costs
O Opportunity costs ●
O Differential costs
O Avoidable costs
Question 10 of 30
__cost is the amount of benefits foregone from the second-best alternative decision/action.
O Sunk
O Direct
O Indirect
O Opportunity ●
Question 11 of 30
The Countries which have signed Kyoto Protocol are called
O Green Countries ●
O Annexured Countries
O Non Annexured Countries
O Developed Countries
Question 12 of 30
Following information is available of GGSS Ltd. for year ended Dec 2020 Sales (units) 1000 (Rs.3/
unit), Production (units) 1500, Variable manufacturing-Rs 800, Fixed manufacturing-Rs 600, Variable
office expenses- Rs 900, Fixed office expenses- Rs 300, What will be amount of profit earned during
the year using the absorption costing technique?
O Rs 967 ●
O Rs. 1,900
O 1167
O Rs. 999
Question 13 of 30:
A shop sells wedding dresses. The cost of each dress is comprised of the following: Selling price of
Rs.1,000 and variable (flexible) costs of Rs 400 Total fixed (capacity-related) cost for Shop is
O 600 ●
O 6000
O 60
O 6600
Question 14 of 30:
O Production overhead
O Distribution overhead ●
O Prime cost
O Factory overhead
Question 15 of 30
When fixed cost is deducted from contribution, the balance will be-
O Variable cost
O Profit
O Total cost
O sales
Question 16 of 30.
O Cost of production
O Liquidity
O Capital Expenditure
O All of the above ●

Question 17 of 30
calculating the labour turnover rate by
O Separation Method
O Replacement Method
O Flux Method
O None of these ●
Question 18 of 30:
To find the break-even in Rupees, you have to divide the fixed cost by _?
O Contribution Margin ratio ●

O Contribution Margin
O Fixed cost
O variable cost
Question 19 of 30
The type of cost which changes with the change in alternative course of decision/actions whereas
irrelevant cost remains constant across all the alternative course of decision/ actions
O Irrelevant
O Relevant ●
O Constant
O None of these
Question 20 of 30
The scarce factors are also known as
O Key factor ●
O Abnormal factor
O Linking factor
O None of the above

Question 21 of 30
__method of Human Resource Accounting recognizes an individual's expected economic value to the
enterprise during his remaining service period.
O the replacement cost approach
O the historical cost approach ●
O the opportunity cost approach
O Present Value of Future Earnings Method
Question 22 of 30:
O absorbed cost ●
O expired cost
O unexpired cost
O accrued cost
Question 23 of 30
Abacus Company uses activity based costing and has the following activity cost pools and estimated
overhead cost for each pool: Machine related Rs3,00,000 Handling material Rs 2,60,000 Processing
purchase orders Rs.7.50,000 General factory Rs.6,00,000 The amount of total estimated overhead is
O 1810000
O 1910000 ●
O 1820000
O 1912000
Question 24 of 30:
O The level of activity at which there is neither profit nor loss
O The level of activity where cash flow is zero
O The level of activity where profits equal fixed costs ●

O The level of activity where variable costs are covered by sales revenue
Question 25 of 30
In marginal costing stock of finished goods is valued at
O Same as absorption costing
O Higher than the value under absorption costing
O Lower than the value under absorption costing
O None of these ●
Question 26 of 30:
O FIFO
O LIFO
O Weighted Average
O VED Analysis ●
Question 27 of 30
The break-even point in units represented by the equation.
O Fixed costs/Variable costs
O Fixed costs / selling price per unit
O (Sales revenue Fixed costs) Contribution per unit
O Fixed costs/Contribution per unit
Question 28 of 30
O Non-operational factors
O Environmental factors ●
O Both option 1 & 2
O None of the above

Question 29 of 30.
is prepared for single level of activity and single set of business conditions.
O Fixed budget ●
O Flexible budget
O Both a and b
O None of the above
Question 30 of 30
A mechanized firm produces Product X, Royalty paid on sales is R$45,000 and design charges paid for
the product is Rs3500. Compute the Direct Expenses for the firm
O 41500
O 48500 ●
O 45000
O Insufficient information
State Finished
Grade 14.00 out of 15.00 (93%)
Question 1
Complete
Flag question
Question text

Select one:
a. Cost Budget
c. Sales Budget
Question 2
Complete
Flag question
Question text
Select one:
Question 3
Complete
Flag question
Question text
period.
Select one:
a. Cost Budget
c. Sales Budget
Question 4
Not answered
Marked out of 0.50
Flag question
Question text
Select one:
a. Material Cost
b. Process Control
c. Labour Cost
d. Direct Expenses
Question 5
Complete
Flag question
Question text
Select one:
a. Expensed
b. Capitalized
c. Written Off
Question 6
Complete
Flag question
Question text
Select one:
a. 41500
c. 48500
d. 45000
Question 7
Complete
Flag question
Question text
Select one:
a. None Of These
d. Flux Method
Question 8
Complete
Flag question
Question text

Select one:
c. Tax Compliance.
d. Financial Audit
Question 9
Complete
Flag question
Question text
Select one:
a. Rs. 350000
b. Rs. 340000
c. Rs. 330000
d. Rs. 300000
Question 10
Complete
Flag question
Question text

Select one:
a. Co2 And H2
c. O2, Co2 And Co
d. O2 And Co2
Question 11
Complete
Flag question
Question text
Select one:
a. 18,10,000
b. 19,12,000
c. 19,10,000
d. 18,20,000
Question 12
Complete
Flag question
Question text
Select one:
b. Its Total Cost
c. Its Prime Cost
d. Its Fixed Cost
Question 13
Complete
Flag question
Question text

Select one:
a. Lifo
b. Weighted Average
c. Fifo
d. Ved Analysis
Question 14
Complete
Flag question
Question text

Select one:
c. None Of These
Question 15
Complete
Flag question
Question text
Select one:
c. Variable Cost
d. Fixed Cost
Question 16
Complete
Remove flag
Question text

Select one:
a. Indirect
b. Differential
c. Direct
d. Variable
Question 17
Complete
Remove flag
Question text

Select one:
b. Ved Analysis
c. Abc Analysis
d. Stock Level
Question 18
Complete
Flag question
Question text
beginning is
Select one:
Question 19
Complete
Flag question
Question text
Select one:
a. 600
b. 60
c. 6600
d. 6000
Question 20
Complete
Remove flag
Question text

Select one:
b. Margin Of Safety
c. Cvp Analysis
d. Unit Sales
Question 21
Complete
Flag question
Question text

Select one:
Question 22
Complete
Flag question
Question text
Select one:
Question 23
Complete
Flag question
Question text
decision/action.
Select one:
a. Sunk
b. Direct
c. Indirect
d. Opportunity
Question 24
Complete
Remove flag
Question text

Select one:
b. All Of These
d. Limiting Factor
Question 25
Complete
Remove flag
Question text
Select one:
a. Both A And B
b. Flexible Budget
c. Fixed Budget
Question 26
Complete
Flag question
Question text
Select one:
b. More
c. Equally
d. Less
Question 27
Complete
Flag question
Question text
Select one:
a. Rs. 90,000
b. Rs. 99,000
c. Rs. 1,10,000
d. Rs. 2,50,000
Question 28
Complete
Flag question
Question text

Select one:
b. Contribution
c. Fixed Overheads
d. Work Cost
Question 29
Complete
Flag question
Question text
Select one:
a. Rs. 1,900
b. Rs. 999
c. Rs. 967
d. 1167
Question 30
Complete
Flag question
Question text
Select one:

State Finished
Grade 12.00 out of 15.00 (80%)
Question 1
Complete
Select one:
a. Cost Budget
c. Sales Budget 
Question 2
Complete
Select one:
c. All The Above
d. Cost Of Material
Question 3
Complete

Select one:
a. Cost Budget
c. Sales Budget
d. None Of The Above 
Question 4
Complete
Select one:
Question 5
Complete

Select one:
a. Variable Cost
b. Profit
c. Total Cost
d. Sales 
Question 6
Complete
Select one:
Question 7
Complete

Select one:
a. Direct
b. Variable
c. Indirect
d. Differential 
Question 8
Complete
Select one:
a. 10000
b. 110000
c. 120000
d. 80000
Question 9
Complete

Select one:
d. Fc+ Profit/Contribution Margin Ratio 
Question 10
Complete
Select one:
Question 11
Complete

Select one:
a. 19,10,000
b. 18,10,000
c. 18,20,000 
d. 19,12,000
Question 12
Complete
HRA
Select one:
a. Liabilitities
b. Assets
c. Capital Expense
d. Revenue Expense
Question 13
Complete 
Cost Model for HRA
Select one:
a. Capitalized
b. Written Off
c. Set-Off Against Revenue 
d. Expensed
Question 14
Complete
Select one:
a. Fifo
b. Ved Analysis
c. Lifo
d. Weighted Average
Question 15
Complete

Select one:
a. Sunk Costs
c. Avoidable Costs
d. Opportunity Costs 
Question 16
Complete
Select one:
a. None Of These
b. Fixed
c. Invariable
d. Variable
Question 17
Complete

by____________
Select one:
b. None Of These
c. Flux Method

Question 18
Complete
Select one:
c. Pv Ratio
d. Bep
Question 19
Complete

Select one:
a. Variable Cost
b. Sunk Cost
c. Incremental Cost
d. Fixed Costs 
Question 20
Complete
Select one:
a. Current Budget
b. Long-Term Budget
Question 21
Complete

Select one:
b. None Of These
d. Period And Product Cost 
Question 22
Complete
Select one:
a. Kyoto Protocol
b. Gatt
c. Basel Accord
Question 23
Complete

Select one:
a. Direct Expenses
b. Material Cost
c. Labour Cost
d. Process Control 
Question 24
Complete
Select one:
a. Cost Budget
d. Sales Budget
Question 25
Complete

Select one:
d. Developing Countries 
Question 26
Complete
Select one:
a. 1167
b. Rs. 999
c. Rs. 967
d. Rs. 1,900
Question 27
Complete

Select one:
c. Lower Than The Value Under Absorption Costing 
d. None Of These
Question 28
Complete
Select one:
a. Incremental Cost
b. Sunk Cost
c. Fixed Cost
d. Unavoidable Cost
Question 29
Complete

Select one:
b. All Of The Above
c. Liquidity
d. Capital Expenditure 
Question 30
Complete
Select one:
a. 5500
b. 300
c. 3000
d. 5000
 

Started on Sunday, 25 April 2021, 6:48 PM

State Finished
Completed on Sunday, 25 April 2021, 7:32 PM
Grade 18.00 out of 20.00 (90%)
Question 1
Complete
Which one is a current asset?
Select one:
a. Furniture 
b. Cash
c. Land
d. Investment
Question 2
Complete
If liabilities total Rs70,000 and stockholders' equity totals Rs50,000, then total assets must be:
Select one:
a. Rs80,000
b. Rs120,000
c. Rs20,000
d. Rs30,000

Question 3
Complete
An example of revenue expenditure is:
Select one:
a. Purchase Of Land
b. Salaries
c. Lease
d. Purchase Of Buildings 
Question 4
Complete
The 31st March 2019, balance sheet of Beta Ltd., reported total assets of Rs1,150,000 and total liabilities of Rs750,000. The following
information relates to the year 2019: i) Beta Ltd issued an additional 10,000 shares of common stock at Rs20 per share on July 1, 2019. ii)
Beta Ltd, paid dividends totaling Rs90,000. iii) Net income for 2020 was Rs105,000. No other changes occurred in stockholders’ equity during
2020. The stockholders’ equity section of the 31st March 2020, balance sheet would report a balance of
Select one:
a. Rs215,000.
b. Rs600,000.
c. Rs400,000.
d. Rs615,000.

Question 5
Complete
Salaries paid to sta will be debited to which A/c?
Select one:
a. Expense A/C
b. Cash A/C 
c. Sta A/C
d. Salary A/C
Question 6
Complete
The amount of purchases for a period is presented in the ______________.
Select one:
a. Revenue Section Of The Income Statement
b. Expense Section Of The Income Statement
c. Liabilities Section Of The Balance Sheet
d. Cost Of Goods Sold Section Of The Income Statement

Question 7
Complete
Which one of the following is capital expenditure?
Select one:
a. Cost Of Advertisement
b. Purchase Of A Truck
c. Purchase Of Raw Material
d. Purchase Of Machine Oil 
Question 8
Complete
A rm has reported a pro t of Rs.1,47,000 for the year ended 31-3-2014 after taking into consideration the following items. i) The cost of an
asset Rs.23,000 has been taken as an expense. ii) The rm anticipated a pro t of Rs.12,000 on the sale of an old furniture, iii) Salary of
Rs.7,000 outstanding for the year has not been taken into account. iv) An asset of Rs.85,000 was purchased for Rs.75,000 and was recorded
in the books at Rs.85,000. What is the correct amount of pro t to be reported in the books?
Select one:
a. Rs.1,63,000
b. Rs.1,41,000
c. Rs. 1,51,000
d. Rs.1,47,000

Question 9
Complete
Wages paid to workers must be debited to _________ account
Select one:
a. O ces Expenses
b. Factory Expenses 
c. Machinery
d. Wages
Question 10
Complete
The system whereby we record dual e ect of each transaction is known as:
Select one:
a. Double Entry Book Keeping
b. Dual Aspects Of Transactions
c. Management Accounting
d. Balance Sheet Accounting

Question 11
Complete
The net worth of a limited company equal to
Select one:
a. Fixed Assets Current Liabilities.
b. The Total Of Shareholders / Proprietor’S Funds.
c. Fixed Assets Long Term Liabilities.
d. Current Assets Current Liabilities. 
Question 12
Complete
A business owned and run by one person is called:
Select one:
a. Sole Proprietorship
b. Partnership
c. Limited Company
d. None Of The Given Options
Question 13
Complete
The following relate to Delta Inc. for the year 2019. What is the ending inventory?
Purchases 540,000
Beginning Inventory 80,000
Purchase Returns 10,000
Sales 80,000
Cost of Goods Sold 490,000
Select one:
a. Rs 260,000

b. Rs 120,000
c. Rs 140,000
d. Rs 210,000
Question 14
Complete
Telly Company had retained earnings of Rs100,000 at the end of last year. For the current year, income was Rs40,000 and dividends
Rs30,000. What is the balance in retained earnings at the end of the current year?
Select one:
a. Rs 120000
b. Rs170000
c. Rs 110000
d. Rs 90000

Question 15
Complete
Any expenditure that bene ts the business for several accounting years is regarded as:
Select one:
a. Revenue Receipt
b. None Of The Given Options
c. Revenue Expenditure

Question 16
Complete
Depreciation is provided on:
Select one:
a. Intangible Assets.
b. Outward Charges.
c. Fixed Assets.
d. Current Assets.

Question 17
Complete
A new rm commenced business on 1st January, 2006 and purchased goods costing Rs. 90,000 during the year. A sum of Rs. 6,000 was
spent on freight inwards. At the end of the year the cost of goods still unsold was Rs. 12,000. Sales during the year Rs.1,20,000. What is the
gross pro t earned by the rm?
Select one:
a. Rs. 30,000
b. Rs. 38,000
c. Rs. 42,000 
d. Rs. 36,000
Question 18
Complete
Capital =
Select one:
a. Asset
b. All The Above
c. Asset - Liabilities
d. Liabilities

Question 19
Complete
The current liability section of the balance sheet should include:
Select one:
a. Goodwill
b. Accounts Payable
c. Buildings
d. Land Held For Speculation Purposes 
Question 20
Complete
Which of the following is not a current asset?
Select one:
a. Unearned Rent Income
b. Prepaid Interest
c. Material Inventory
d. Marketable Securities

 
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4. Assignment - 2

State Finished
Grade 13.50 out of 15.00 (90%)
Question 1
Complete
Question text

Select one:
b. Variable And Semi-Variable Cost
c. None Of These
d. Fixed And Variable Cost
Question 2
Complete
Question text

Select one:
a. The Level Of Activity At Which There Is Neither Profit Nor Loss
b. The Level Of Activity Where Variable Costs Are Covered By Sales Revenue
d. The Level Of Activity Where Profits Equal Fixed Costs
Question 3
Complete


Question text

Select one:
a. All Of The Above
b. Liquidity
c. Cost Of Production
Question 4
Complete
Question text

Select one:
a. Average Daily Usage * Lead Time Under Emergency Situations
Question 5
Complete
Question text

Select one:
d. None Of These
Question 6
Complete
Question text

Select one:
a. Financial Audit
c. Tax Compliance.
d. Cost Ascertainment.
Question 7
Complete
Question text
Select one:
b. Flexible Budget
c. Both A And B
d. Fixed Budget
Question 8
Not answered
Marked out of 0.50
Question text
The expected overhead cost for Neel Construction ltd of a particular part cost pool was R.s.5,60,000 and the
expected activity was 5,000 parts. The actual overhead cost for the cost pool was Rs.480,000 at an actual
activity of 6,000 parts. The activity rate for that cost pool was:
Select one:
a. Rs80 Each Part
b. Rs96 Each Part
d. Rs112 Each Part
Question 9
Complete
Question text
Select one:
d. Batch Level Costs.
Question 10
Complete
Question text
Shut down cost is:

Select one:
a. Avoidable Fixed Cost
b. Avoidable Variable Cost
c. Unavoidable Variable Cost.
d. Unavoidable Fixed Cost
Question 11
Complete
Question text
Activity-based costing will provide better accuracy when allocating costs than a manufacturer's machine
hours when its products and customers are __________ diversified.
Select one:
a. More
b. Equally
c. Less
d. Not Sufficient Information
Question 12
Complete
Question text

Select one:
b. Sales Budget
c. Cost Budget
Question 13
Complete
Question text

Select one:
b. Issue Of Material

Question 14
Complete
Question text

Select one:
a. Co2 And H2
b. O2 And Co2
c. O2, Co2 And Co
d. Co2, Co And Methane
Question 15
Complete
Question text

Select one:
a. Contribution
b. Fixed Overheads
c. Variable Overheads
d. Work Cost
Question 16
Complete
Question text
Output and sales 50,000 units with sale price of Rs. 15/unit. Material & Labour cost per unit Rs.7 & Variable
Rs. 3/unit. Fixed Rs. 70,000 & Other fixed overheads Rs. 90,000. Calculate Net income under Marginal
costing?
Select one:
a. Rs. 90,000
b. Rs. 99,000
c. Rs. 1,10,000
d. Rs. 2,50,000
Question 17
Complete
Question text

Select one:
a. All Of These.
c. Limiting Factor
Question 18
Complete
Question text
Select one:
a. 2000
b. 6000
c. 8000
d. 4000
Question 19
Complete
Question text

Select one:
a. Factory Overhead
b. Prime Cost
c. Production Overhead
Question 20
Complete
Question text
Select one:
a. Expired Cost
b. Absorbed Cost
c. Unexpired Cost
d. Accrued Cost
Question 21
Complete
Question text
A shop sells wedding dresses. The cost of each dress is comprised of the following: Selling price of Rs.1,000
and variable (flexible) costs of Rs.400. Total fixed (capacity-related) cost for Shop is Rs.90,000. What is the
contribution margin per dress?
Select one:
a. 600
b. 6600
c. 6000
d. 60
Question 22
Complete
Question text

Select one:
d. Fixed Costs / Contribution Per Unit
Question 23
Complete
Question text

Select one:
Question 24
Complete
Question text

Select one:
a. Kyoto Protocol
b. Basel Accord
c. Non Proliferation Agreement
d. Gatt
Question 25
Complete
Question text

Select one:
a. Lifo
b. Fifo
c. Ved Analysis
d. Weighted Average
Question 26
Complete
Question text
Select one:
Question 27
Complete
Question text

Select one:
a. None Of These
b. Direct
c. Indirect
d. Sunk

Question 28
Complete
Question text
Workers who leave the organization during a specific time period are taken into consideration for calculating
the labour turnover rate by____________
Select one:
c. Flux Method
d. None Of These
Question 29
Complete
Question text
A company has fixed costs of Rs. 50,000 and variable costs per unit of output of Rs. 8. If its sole product sells
for Rs. 18, what is the break-even quantity of output?
Select one:
a. 300
b. 5000
c. 3000
d. 5500
Question 30
Complete
Question text
Select one:
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State Finished
Grade 11.50 out of 15.00 (77%)
Question 1
Complete
The break-even point can be de ned as?
Select one:
b. The Level Of Activity Where Pro ts Equal Fixed Costs

c. The Level Of Activity At Which There Is Neither Pro t Nor Loss
d. The Level Of Activity Where Cash Flow Is Zero
Question 2
Complete
Workers who leave the organization during a speci c time period are taken into consideration for calculating the labour turnover rate
by____________
Select one:
a. None Of These
c. Flux Method
d. Replacement Method

Question 3
Complete
Select one:
a. Flexible Budget
c. Fixed Budget
d. Both A And B
Question 4
Complete
Select one:
a. Di erential
b. Variable
c. Direct
d. Indirect
Question 5

Complete
A shop sells wedding dresses. The cost of each dress is comprised of the following: Selling price of Rs.1,000 and variable ( exible) costs of
Rs.400. Total xed (capacity-related) cost for Shop is Rs.90,000. What is the contribution margin per dress?
Select one:
a. 6600
b. 600
c. 60
d. 6000
Question 6
Complete
Select one:
a. Only When The Decrease In Total Contribution Margin Is Less Than The Decrease In Variable Cost
b. Only When The Decrease In Total Contribution Margin Is More Than The Decrease In Variable Cost
c. Only When The Decrease In Total Contribution Margin Is Equal To Fixed Cost
d. Only When The Decrease In Total Contribution Margin Is Less Than The Decrease In Fixed Cost
Question 7

Complete
In marginal costing stock of nished goods is valued at ------
Select one:
c. Same As Absorption Costing
d. None Of These
Question 8
Complete
Select one:
b. Between Developed And Developing Countries
Question 9

Complete
Shut down cost is:
Select one:
Question 10
Complete
Select one:
a. 8000
b. 2000
c. 4000
d. 6000
Question 11

Complete
Select one:
a. Semi Variable
b. Fixed
c. Variable
d. All Of These
Question 12
Complete
Select one:
a. All Of Above
c. None Of Above
Question 13

Complete
Select one:
a. Prime Cost
c. Factory Overhead
Question 14
Complete
Select one:
Question 15

Complete
________ is the rst step of budgetary system and all other budgets depends on it.
Select one:
b. Sales Budget
c. Cost Budget
Question 16
Complete
Select one:
a. Basel Accord
b. Non Proliferation Agreement
c. Kyoto Protocol
d. Gatt
Question 17

Complete
Select one:
a. Restricting Factors
b. Governing Factors
c. Limiting Factor
d. All Of These.
Question 18
Complete
Select one:
a. Relevant
b. None Of These
c. Constant
d. Irrelevant

Question 19
Complete
Select one:
a. 18,10,000
b. 19,10,000
c. 19,12,000
d. 18,20,000
Question 20
Complete
Select one:
Question 21

Complete
Select one:
b. Needs A Predetermined Overhead Rate
c. Changes Overhead Costs From Low-Volume Products To High-Volume Products
d. Provides The Results Same As Traditional Costing
Question 22
Complete
To nd the break-even in Rupees, you have to divide the xed cost by ____________?
Select one:
a. Fixed Cost
c. Variable Cost
d. Contribution Margin Ratio
Question 23

Complete
Select one:
c. Green Countries
Question 24
Complete
Select one:
a. Fixed Cost
b. Unavoidable Cost
c. Incremental Cost
d. Sunk Cost
Question 25

Complete
Select one:
a. Cvp Analysis
b. Unit Sales
c. Margin Of Safety
d. Business Analysis
Question 26
Complete
Select one:
a. Sunk Costs
c. Di erential Costs
d. Avoidable Costs
Question 27

Complete
A company's telephone bill consisting of a Rs. 200 monthly base amount, plus long distance charges, would be classi ed as a?
Select one:
a. Fixed Costs
b. Mixed Cost
c. Incremental Cost
d. Variable Cost
Question 28
Complete
Select one:
a. Co2, Co And Methane
b. O2, Co2 And Co
c. O2 And Co2
d. Co2 And H2
Question 29

Complete
Select one:
b. Sales Budget
c. Cost Budget
Question 30
Complete
Select one:
a. Both A And B
b. Rate Per Unit
c. None Of These

 

State Finished
Grade 12.00 out of 15.00 (80%)
Question 1
Complete
Select one:
a. Cost Budget
c. Sales Budget 
Question 2
Complete
Select one:
c. All The Above
d. Cost Of Material
Question 3
Complete

Select one:
a. Cost Budget
c. Sales Budget
Question 4
Complete
Select one:
Question 5
Complete

Select one:
a. Variable Cost
b. Profit
c. Total Cost
d. Sales
Question 6
Complete
Select one:
Question 7
Complete

Select one:
a. Direct
b. Variable
c. Indirect
d. Differential
Question 8
Complete
Select one:
a. 10000
b. 110000
c. 120000
d. 80000
Question 9
Complete

Select one:
d. Fc+ Profit/Contribution Margin Ratio
Question 10
Complete
Select one:
Question 11
Complete

Select one:
a. 19,10,000
b. 18,10,000
c. 18,20,000
d. 19,12,000
Question 12
Complete
HRA
Select one:
a. Liabilitities
b. Assets
c. Capital Expense
d. Revenue Expense
Question 13
Complete 
Cost Model for HRA
Select one:
a. Capitalized
b. Written Off
c. Set-Off Against Revenue
d. Expensed
Question 14
Complete
Select one:
a. Fifo
b. Ved Analysis
c. Lifo
d. Weighted Average
Question 15
Complete

Select one:
a. Sunk Costs
c. Avoidable Costs
d. Opportunity Costs
Question 16
Complete
Select one:
a. None Of These
b. Fixed
c. Invariable
d. Variable
Question 17
Complete

by____________
Select one:
b. None Of These
c. Flux Method
Question 18
Complete
Select one:
c. Pv Ratio
d. Bep
Question 19
Complete

Select one:
a. Variable Cost
b. Sunk Cost
c. Incremental Cost
d. Fixed Costs
Question 20
Complete
Select one:
a. Current Budget
b. Long-Term Budget
Question 21
Complete

Select one:
b. None Of These
d. Period And Product Cost
Question 22
Complete
Select one:
a. Kyoto Protocol
b. Gatt
c. Basel Accord
Question 23
Complete

Select one:
a. Direct Expenses
b. Material Cost
c. Labour Cost
d. Process Control
Question 24
Complete
Select one:
a. Cost Budget
d. Sales Budget
Question 25
Complete

Select one:
Question 26
Complete
Select one:
a. 1167
b. Rs. 999
c. Rs. 967
d. Rs. 1,900
Question 27
Complete

Select one:
c. Lower Than The Value Under Absorption Costing
d. None Of These
Question 28
Complete
Select one:
a. Incremental Cost
b. Sunk Cost
c. Fixed Cost
d. Unavoidable Cost
Question 29
Complete

Select one:
b. All Of The Above
c. Liquidity
Question 30
Complete
Select one:
a. 5500
b. 300
c. 3000
d. 5000
 

Started on Friday, 2 July 2021, 11:34 AM

State Finished
Time taken 28 mins
Grade 13.50 out of 15.00 (90%)
Question 1
Complete
Select one:

Question 2
Complete
Select one:
b. Non Annexured Countries
c. Annexured Countries
d. Green Countries
Question 3
Complete 
Select one:
b. Both A And B
c. Flexible Budget
d. Fixed Budget 
Question 4
Complete
Select one:
a. Fixed Overheads
b. Contribution
c. Work Cost
d. Variable Overheads
Question 5
Complete 
Select one:
a. Rs. 15
b. Rs. 10 
c. Rs. 11.27
d. Rs. 10.80
Question 6
Complete
Select one:
a. Needs A Predetermined Overhead Rate
c. Changes Overhead Costs From High-Volume Products To Low-Volume Products
d. Changes Overhead Costs From Low-Volume Products To High-Volume Products
Question 7
Complete 
Select one:
c. Avoidable Costs
d. Sunk Costs 
Question 8
Complete
Select one:
a. 10000
b. 120000
c. 110000
d. 80000
Question 9
Complete 
Select one:
a. Abnormal Factor
c. Linking Factor
d. Key Factor 
Question 10
Complete
Select one:
a. Unexpired Cost
b. Absorbed Cost
c. Expired Cost
d. Accrued Cost
Question 11
Complete 
Select one:
a. Ved Analysis
b. Fifo
c. Weighted Average
d. Lifo 
Question 12
Complete
Select one:
a. Prime Cost
c. Factory Overhead
Question 13
Complete 
Select one:
a. Accrued Cost
b. Absorbed Cost
c. Expired Cost
d. Unexpired Cost 
Question 14
Complete
Select one:
a. Issue Of Material
c. Purchase & Receipts.
Question 15
Complete 
Select one:
c. None Of These
d. Lower Than The Value Under Absorption Costing 
Question 16
Complete
Select one:
Question 17
Complete 
than the budget?
Select one:
a. Total Variable Costs
b. Variable Costs Per Unit
c. None Of Above

Question 18
Complete
Select one:
a. Tax Paid On The Final Product
b. All The Above
d. Cost Of Material
Question 19
Complete 
Select one:
a. Margin Of Safety
b. Business Analysis
c. Cvp Analysis
d. Unit Sales 
Question 20
Complete
Select one:
a. Indirect
b. Sunk
c. Opportunity
d. Direct
Question 21
Complete 
Select one:
d. The Benefits Obtained From Abc Might Not Justify The Costs. 
Question 22
Complete
Select one:
Question 23
Complete 
Select one:
a. Variable
b. None Of These
c. Fixed
d. Invariable 
Question 24
Complete
Select one:
a. Sunk Cost
b. Fixed Costs
c. Incremental Cost
d. Variable Cost
Question 25
Complete 
Select one:
a. Fc+ Profit/Contribution Margin Ratio
b. Fc+ Profit/Contribution Margin Per Unit
c. Vc+ Profit/Contribution Margin
d. Vc+ Profit/Contribution Margin Ratio 
Question 26
Complete
Select one:
b. None Of These
c. Fixed And Variable Cost
d. Variable And Semi-Variable Cost
Question 27
Complete 
Select one:
d. The Historical Cost Approach 
Question 28
Complete
HRA
Select one:
a. Revenue Expense
b. Capital Expense
c. Assets
d. Liabilitities
Question 29
Complete

Select one:
a. Flexible Budget
b. Both A And B
c. Fixed Budget

Question 30
Complete
Select one:
a. Capital Expenditure
b. All Of The Above
c. Liquidity
d. Cost Of Production
  
State Finished
Time taken 50 mins
Grade 13.00 out of 15.00 (87%)
Question 1
Complete
HRA
Select one:
a. Capital Expense
b. Liabilitities

c. Revenue Expense
d. Assets
Question 2
Complete
Select one:
a. Non Annexured Countries
c. Green Countries
d. Annexured Countries
Question 3
Complete 
Select one:
a. None Of Above
b. All Of Above
c. Breakeven Sales In Rupees/Normal Sales In Rupees
d. Normal Sales In Rupees/ Break Even Sales In Rupees
Question 4
Complete
Select one:
Question 5
Complete 
Select one:
c. The Benefits Obtained From Abc Might Not Justify The Costs.
d. To Estimate All Overhead Costs, Not Just Factory Overheads.
Question 6
Complete
ABC helps managers make improved _________
Select one:
a. All Of The Above
b. Pricing Decisions
c. Profitability Decisions
d. Inventory Estimations
Question 7
Complete 
Select one:
Question 8
Complete
Select one:
a. Fixed Costs
b. Mixed Cost
c. Variable Cost
d. Incremental Cost

Question 9
Complete
Select one:
a. 41500
c. 48500
d. 45000

Question 10
Complete
Select one:
c. Increases Pv Ratio
d. Increases Profit
Question 11
Complete 
Select one:
a. Flexible Budget
b. Both A And B
c. Fixed Budget
Question 12
Complete
etc.
Select one:
a. Cost Budget
c. Master Budget
d. Functional Budget

Question 13
Complete
Select one:
Question 14
Complete 
Select one:
b. Bep
c. Pv Ratio
d. Contribution Per Unit
Question 15
Complete
Select one:
a. None Of These
b. Both A And B
c. Rate Per Unit
Question 16
Complete 
Select one:
a. Material Cost
b. Direct Expenses
c. Process Control
d. Labour Cost
Question 17
Complete
Select one:
a. 6000
b. 2000
c. 8000
d. 4000
Question 18
Complete 
Select one:
b. The Opportunity Cost Approach
Question 19
Complete
Select one:
a. Variable
b. Fixed
c. All Of These
d. Semi Variable
Question 20
Complete 
Select one:
a. Cost Budget
b. Sales Budget
c. Production Budget
Question 21
Complete
Select one:
a. Its Fixed Cost
b. Its Prime Cost
c. Its Variable Cost
d. Its Total Cost

Question 22
Complete
Select one:
a. Rs80 Each Part
b. Rs93.33 Each Part
c. Rs112 Each Part
d. Rs96 Each Part

Question 23
Complete
Select one:
a. Rs. 11.27
b. Rs. 10.80
c. Rs. 10
d. Rs. 15

Question 24
Complete
Select one:
Question 25
Complete 
Select one:
a. Opportunity
b. Indirect
c. Sunk
d. Direct
Question 26
Complete
Select one:
c. All The Above
d. Cost Of Material

Question 27
Complete
than the budget?
Select one:
a. Variable Costs Per Unit
b. None Of Above
c. Total Variable Costs

Question 28
Complete
Select one:
a. The Level Of Activity Where Profits Equal Fixed Costs
b. The Level Of Activity Where Cash Flow Is Zero
c. The Level Of Activity Where Variable Costs Are Covered By Sales Revenue

Question 29
Complete
A shop sells wedding dresses. The cost of each dress is comprised of the following: Selling price of Rs.1,000 and variable (flexible) costs of
Rs.400. Total fixed (capacity-related) cost for Shop is Rs.90,000. What is the contribution margin per dress?
Select one:
a. 600
b. 6600
c. 60
d. 6000

Question 30
Complete
Select one:
a. 1167
b. Rs. 999
c. Rs. 1,900
d. Rs. 967

 

State Finished
Grade 15.00 out of 15.00 (100%)
Question 1
Complete
Select one:

Question 2
Complete
Select one:
a. Cost Budget
b. Sales Budget
Question 3
Complete 
HRA
Select one:
a. Revenue Expense
b. Assets
c. Liabilitities
d. Capital Expense
Question 4
Complete
Select one:
c. Financial Audit
d. Tax Compliance.
Question 5
Complete 
Select one:
a. Same As Absorption Costing
d. None Of These
Question 6
Complete
Select one:
a. Total Cost
b. Sales
c. Variable Cost
d. Profit
Question 7
Complete 
Select one:
a. Expired Cost
b. Absorbed Cost
c. Unexpired Cost
d. Accrued Cost
Question 8
Complete
Select one:
a. All Of These
b. Fixed
c. Variable
d. Semi Variable
Question 9
Complete 
Select one:
a. 5000
b. 3000
c. 5500
d. 300
Question 10
Complete
Select one:
Question 11
Complete 
Select one:
c. All Of These.
d. Limiting Factor
Question 12
Complete
Select one:
a. None Of Above
b. All Of Above
c. Normal Sales In Rupees/ Break Even Sales In Rupees
Question 13
Complete 
Select one:
c. Sales Budget
d. Cost Budget
Question 14
Complete
Select one:
Question 15
Complete 
Select one:
b. Purchase & Receipts.
Question 16
Complete
Select one:
a. Variable Cost
c. Contribution Margin Ratio
d. Fixed Cost
Question 17
Complete 
Output and sales 50,000 units with sale price of Rs. 15/unit. Material & Labour cost per unit Rs.7 & Variable Rs. 3/unit. Fixed Rs. 70,000 &
Other fixed overheads Rs. 90,000. Calculate Net income under Marginal costing?
Select one:
a. Rs. 1,10,000
b. Rs. 90,000
c. Rs. 99,000
d. Rs. 2,50,000
Question 18
Complete
Select one:
c. Maximum Consumption* Maximum Lead Time
d. Re-Order Level – (Average Usage * Average Lead Time)
Question 19
Complete 
Select one:
a. Direct
b. Opportunity
c. Indirect
d. Sunk
Question 20
Complete
Select one:
a. Incremental Cost
b. Fixed Costs
c. Mixed Cost
d. Variable Cost
Question 21
Complete 
Shut down cost is:
Select one:
Question 22
Complete
Select one:
a. Rs. 10.80
b. Rs. 15
c. Rs. 10
d. Rs. 11.27
Question 23
Complete
Cost Model for HRA
Select one:
a. Capitalized
b. Set-Off Against Revenue
c. Expensed
d. Written Off
Question 24
Complete

Select one:
b. The Level Of Activity Where Profits Equal Fixed Costs
Question 25
Complete
Select one:
c. Increases Profit
d. Increases Pv Ratio
Question 26
Complete 
etc.
Select one:
b. Cost Budget
d. Master Budget
Question 27
Complete
Select one:
a. Absorbed Cost
b. Expired Cost
c. Unexpired Cost
d. Accrued Cost
Question 28
Complete 
Select one:
c. Green Countries
Question 29
Complete
Select one:
a. Unavoidable Cost
b. Incremental Cost
c. Fixed Cost
d. Sunk Cost
Question 30
Complete 
Select one:
a. Developing Countries With High Emission
c. Developing Countries
 
Started on Monday, 5 July 2021, 12:05 AM

State Finished
Completed on Monday, 5 July 2021, 12:26 AM
Grade 14.00 out of 15.00 (93%)
Question 1
Complete
The type of cost which changes with the change in alternative course of decision/actions whereas irrelevant cost remains constant
across all the alternative course of decision/ actions
Select one:
a. None Of These
b. Irrelevant
c. Constant
d. Relevant

Question 2
Complete
Select one:
b. All Of The Above.
c. Storage Of Material
Question 3
Complete
A company has fixed costs of Rs. 50,000 and variable costs per unit of output of Rs. 8. If its sole product sells for Rs. 18, what is the

break-even quantity of output?
Select one:
a. 5500
b. 5000 
c. 3000
d. 300
Question 4
Complete
Select one:
a. Limiting Factor
c. All Of These.
Question 5
Complete


Select one:
a. Production Overhead
b. Distribution Overhead
c. Prime Cost 
d. Factory Overhead
Question 6
Complete
Select one:
a. Gatt
b. Kyoto Protocol
c. Basel Accord
Question 7
Complete

Select one:
a. Invariable
b. None Of These
c. Fixed 
d. Variable
Question 8
Complete
Select one:
b. Contribution Per Unit
c. Bep
d. Pv Ratio
Question 9
Complete


Select one:
a. Short-Term Budget
c. Current Budget 
d. Long-Term Budget
Question 10
Complete
___________ method of HRA recognizes an individual’s expected economic value to the enterprise during his remaining service
period.
Select one:
Question 11
Complete

Select one:
a. Key Factor
b. Abnormal Factor 
d. Linking Factor
Question 12
Complete
Select one:
Question 13
Complete


Select one:
a. Cost Budget
d. Sales Budget
Question 14
Complete
Select one:
a. Sunk Costs
c. Opportunity Costs
d. Avoidable Costs
Question 15
Complete


Select one:
c. Re-Order Level – (Average Usage * Average Lead Time) 
Question 16
Complete
Workers who leave the organization during a specific time period are taken into consideration for calculating the labour turnover
rate by____________
Select one:
a. Separation Method
b. Replacement Method
c. None Of These
d. Flux Method
Question 17
Complete

Select one:
a. Its Fixed Cost
b. Its Prime Cost 
c. Its Total Cost
d. Its Variable Cost
Question 18
Complete
Select one:
a. Unexpired Cost
b. Accrued Cost
c. Absorbed Cost
d. Expired Cost
Question 19
Complete

Select one:
a. 6000
b. 4000
c. 2000 
d. 8000
Question 20
Complete
Select one:
a. Cost Budget
c. Sales Budget
Question 21
Complete


Select one:
c. Changes Overhead Costs From High-Volume Products To Low-Volume Products 
Question 22
Complete
Select one:
d. Both Option 1 & 2
Question 23
Complete
__________ contains the picture of total plans during the budget period and it comprises information relating to sales, profit, cost,

production etc.
Select one:
a. Master Budget
b. Cost Budget 
Question 24
Complete
Select one:
a. Flexible Budget
b. Fixed Budget
c. Both A And B
Question 25
Complete
A shop sells wedding dresses. The cost of each dress is comprised of the following: Selling price of Rs.1,000 and variable (flexible)

costs of Rs.400. Total fixed (capacity-related) cost for Shop is Rs.90,000. What is the contribution margin per dress?
Select one:
a. 6600
b. 6000 
c. 600
d. 60
Question 26
Complete
Select one:
a. Incremental Cost
b. Fixed Costs
c. Variable Cost
d. Mixed Cost
Question 27
Complete

Select one:
b. Fc+ Profit/Contribution Margin Ratio
c. Fc+ Profit/Contribution Margin Per Unit 
d. Vc+ Profit/Contribution Margin
Question 28
Complete
Select one:
Question 29
Complete


Select one:
b. Increases Profit
c. Increases Contribution 
d. Decreases Pv Ratio
Question 30
Complete
Select one:
a. Breakeven Sales In Rupees/Normal Sales In Rupees
c. None Of Above
d. All Of Above
 

State Finished
Grade 14.50 out of 15.00 (97%)
Question 1
Complete
Select one:
a. Variable Cost
b. Fixed Costs

c. Sunk Cost
d. Incremental Cost
Question 2
Complete
XY ltd. uses activity-based costing for Product M and Product N. The total estimated overhead cost for the parts administration activity pool
was Rs.7,50,000 and the expected activity was 3000 part types. If Product N requires 1400 part types, the amount of overhead allocated to
Select one:
a. Rs. 340000
b. Rs. 300000
c. Rs. 330000
d. Rs. 350000

Question 3
Complete
Select one:
c. None Of These
Question 4
Complete
Select one:
a. 19,12,000
b. 18,20,000
c. 19,10,000
d. 18,10,000

Question 5
Complete
Select one:
b. Abnormal Factor
c. Linking Factor
d. Key Factor
Question 6
Complete
Select one:
a. Comparing Contribution Margins And Variable Costs
b. Comparing Contribution Margins And Fixed Costs
d. Comparing Gross Margin And Variable Costs
Question 7

Complete
HRA
Select one:
a. Revenue Expense
b. Capital Expense
c. Liabilitities
d. Assets
Question 8
Complete
Select one:
a. Rate Per Unit
b. Both A And B
c. None Of These
Question 9

Complete
Select one:
c. Needs A Predetermined Overhead Rate
d. Changes Overhead Costs From High-Volume Products To Low-Volume Products
Question 10
Complete
Select one:
a. Fixed Budget
c. Both A And B
d. Flexible Budget
Question 11

Complete
Select one:
a. 110000
b. 10000
c. 80000
d. 120000
Question 12
Complete
Select one:
a. Incremental Cost
b. Fixed Costs
c. Mixed Cost
d. Variable Cost
Question 13

Complete
Select one:
Question 14
Complete
Select one:
a. 8000
b. 2000
c. 6000
d. 4000
Question 15

Complete
Select one:
a. Only When The Decrease In Total Contribution Margin Is More Than The Decrease In Variable Cost
b. Only When The Decrease In Total Contribution Margin Is Less Than The Decrease In Variable Cost
c. Only When The Decrease In Total Contribution Margin Is Less Than The Decrease In Fixed Cost
d. Only When The Decrease In Total Contribution Margin Is Equal To Fixed Cost
Question 16
Complete
Select one:
a. Avoidable Costs
c. Differential Costs
d. Sunk Costs
Question 17

Complete
Select one:
a. Expired Cost
b. Unexpired Cost
c. Accrued Cost
d. Absorbed Cost
Question 18
Complete
Select one:
c. Sales Budget
d. Cost Budget
Question 19

Complete
Select one:
Question 20
Complete
Select one:
Question 21

Complete
Select one:
a. Re-Order Level – (Average Usage * Average Lead Time)
c. Re-Order Level + Re-Order Quantity – (Minimum Usage * Minimum Lead Time)
Question 22
Complete
Select one:
a. Stock Level
b. Abc Analysis
c. Ved Analysis
d. Maintaining Stores Ledger & Bin Card
Question 23

Complete
Select one:
a. Rs80 Each Part
b. Rs112 Each Part
d. Rs96 Each Part
Question 24
Complete
Activity-based costing will provide better accuracy when allocating costs than a manufacturer's machine hours when its products and
customers are __________ diversified.
Select one:
a. Less
b. Equally
c. Not Sufficient Information
d. More

Question 25
Complete
Cost Model for HRA
Select one:
a. Set-Off Against Revenue
b. Expensed
c. Written Off
d. Capitalized
Question 26
Complete
Select one:
a. Profit
b. Variable Cost
c. Sales
d. Total Cost
Question 27

Complete
Select one:
a. To Estimate Costs In Service Costing As In Product Costing.
c. To Estimate A More Precise Cost Per Unit.
d. The Benefits Obtained From Abc Might Not Justify The Costs.
Question 28
Complete
Select one:
a. All Of These
b. Variable
c. Semi Variable
d. Fixed
Question 29

Complete
Select one:
a. None Of These
b. Sunk
c. Direct
d. Indirect
Question 30
Complete
Select one:
a. O2, Co2 And Co
b. O2 And Co2
c. Co2, Co And Methane
d. Co2 And H2

 
Accounting questions
The closing inventory if any under variable costing is valued at
Variable manufacturing cost per unit
Which of the following will not appear in cash budget
Depreciation of machinery
Resources that are limited in quantity are called as
Key factors
Gain on sale of investment property should be disclosed in the safety of profit

and loss as
Other income
Cost of factory lighting is an example of
Indirect cost
Based on the following information for Shine Ltd. answer the given questions
Cost of a Machine ₹ 200000
Estimated life 10 years
Scrap value ₹ 6000
Factory operation hours in a week 48
Machine breakdown time 15%
Electricity used by machinery is 10 units/hr ₹ 60 p/unit
Calculate Machine hour rate?
1) Rs. 14 per hour
2) Rs. 11.61 per hour
3) Rs. 12.60 per hour
4) Rs. 18 per hour
Ans Rs. 12.60 per hour
Q: Based on the following information for Shine Ltd. answer the given
questions

Calculate Depreciation rate per hour?
Rs. 8.01 per hour
Rs. 9.43 per hour
Rs. 5.61 per hour
Rs. 6.60 per hour
Ans 9.43 per hour
questions

Calculate Depreciation on Machine?
Ans 19400 p.a.
questions
Calculate Electricity consumption rate per hour?
Rs. 6 per hour
Rs. 10 per hour
60 paisa per hour
Rs. 60 per hour
Ans Rs. 6 per hour

questions
Calculate the Effective machine hours worked in a year?
1). 2496 hours
2) 374 hours – – as per answer given in above questions-solutions
3) 2122 hours
4) 576 hours
Ans 2122 hours
What is Syl’s break-even point in sales dollars? (CPA adapted)

A. $200,000.
B. $160,000.
$50,000 ($800,000 – 160,000)/$800,000 = 80%;

C.
$40,000/.80 = $50,000.
D. $40,000.
Profit and loss from discounting operations and other comprehensive income
are not included in the profit and loss for computing
EBITDA
Activity based costing ABC is a costing technique that uses a two-stage

allocation process and the two stages are
The cost are assigned to activities and then to the products based upon their
use of the activities
These are the course which would change as a result of the decision under
consideration
Relevant cost
__ attached with the balance sheet forms as a part of the financial

statements
Schedules or notes to accounts

Formula for gross margin
Sales revenue less cost of goods manufactured and sold
The model is a technique to determine the economic order quantity is based

on the restrictive assumptions namely
All of these
When corperation seek to headgear to financial situation the pressure to

engage in
Unethical and illegal
A current asset that can be transferred into cash within 3 months is known
as
Cash equivalent
One of the following is not included in costing and control of factory

overheads
Absorption of overheads
Current ratio of a concern is 1 net working capital will be
Nil
What is the main difference between traditional budgeting and zero based
budgeting
ZBB starts at zero
Which of the following would be considered a cash flow item from a financing
activity
Cash outflow to repurchase the forms own common stock
__ are the assets which the management expects to convert into cash within
12 months after the balance sheet date
Current asset
Factory overhead cost refer to all indirect manufacturing costs which cannot
be identified with a particular orders or units of product. It includes
Depreciation on factory plant and equipment’s factory building

On the basis of _ budget is classified into long-term budget short term
budget and current budget
Time
The following is true about activity based costing
Two stage cost allocation system
The underlying difference between absorption costing and variable costing

lies in the treatment of
Fixed cost
The word relevant range as used in cost accounting means the range over
which
Cost relationships are valid
Items of property plant and equipment for sale
Non-current
ABC system is a widely used classification technique, should exercise the

maximum control on items of inventory data
Most costly or slowest turning
Debt equity ratio is equal to or below
1:1
Conflict of interest is built into the accounting system because for the firm is
working
for the company whose account it is auditing
Financial statements of the company are required to be presented in the

format prescribed in _ Companies Act 2013
Schedule III
Cost of raw materials used in production is an example of
Product cost
Cash flows arung from the purchase and sale of dealing or trading securities
are classified as _ for a brokerage firm
Non operating activities
Investing activities
Financing activities
Operating activities <
Quick assets do not include
Inventories <
Cash
Book debts
Cash equivalents
A special order can be acknowledged at
Below marginal cost
Below total cost but above marginal cost <
Below fixed cost
Above total cost

In case of a bank interest income should be recognised in the statement of
profit and loss as
Revenue
Vertical analysis requires preparation of financial statement.
Common-size
Gross profit margin is calculated by dividing gross profit by
Revenue
First budget prepared is
sales budget
Excess of ASR over the break even sales value is known as
Margin of safety
It is a separate performance obligation
Service warranty
Which of the following is an irrelevant cost
Sunk cost
_ are not recognised in the balance sheet as they do not meet the definition
of a liability
Contingent liabilities
Distribution of common cost among user departments is known as
Apportionment
Allocation
If an accounting form certifies a company’s financial statements, it should

have to make the firm’s financial situation look better than it is
Motivation
The main operations related expenses of the business are termed as
Operating expenses
The point at which different individual products are separated after common
stage of production is known as
Split off point
Activity based management reffer to a set of actions that management can

take to increase profitability
All of these
Goodwill are self generated intangible assets
The following cost are irrelevant for a special order that will allow an
organisation to utilise some of its present idle capacity
Unavaoidable fixed overhead
Current assets are also known as
working capital
_ fixed cost are reckoned in sales or further process type of decision making
Non incremental
In shutdown or continue decisions factor to be considered are
Unavaoidable fixed overhead
Research and development and advertisement expenses in the profit and loss
statement are
Discretionary expenses
Cash receipt received from the sales fixed assets are registered under the
head of
Investing activities
Opportunity cost represent the _ foregone by not choosing best alternative
Benefit
Horizontal analysis requires preparation of __ financial statements
Indexed
Sunk cost _ cost

committed cost
Objectivity and Independence are important ethical values in the accounting

profession. Accountants must remain
All of these
Form of balancesheet is
horizontal or vertical
Crucial step in the cvp analysis is the determination of break even point
which is defined as the sales level at which
Total revenues equal total cost
A capacity in which the normal working hours of a machine or worker or

employee are considered is known as
theoritical capacity
BEP 2000 units
VC 8rs
Sales 14rs
Fixed cost?
Ans- 12000
A firm requires 8,000 nos. of certain component, which it bought at Rs 60

each. The cost of placing an order and following it up is 60 and the annual
storage charges work out to 10% of the cost of the item. To get maximum
benefit the firm should place order for how many units at a time?
Ans- = 2*8000*60 / 6 = 400 units
2*ordercost 10*unit 7800 /carrying
2 1lakh 20
Annual requirement is 100000 units. Unit price ` 5, order cost ` 20 per

order. Carrying cost ` 1 per unit and lead time is 2 week, The Economic
order quantity would be.
2000 units
The tax expense in the statement of profit and loss is 40,00,000. Current tax
liability at the beginning and at the end of the year was 2,00,000 and
3,00,000 respectively. Cash outflow during the year on account of income
tax payment was ___
3900000
p/v is 40% and margin of safety is 20% and sales is 20 lakh . what is break
even point
16 lakhs
Tibu Company expects sales of Product W to be 60,000 units in April, 75,000

units in May, and 70,000 units in June. The company desires that the
inventory on hand at the end of each month be equal to 40% of the next
month’s expected unit sales. Due to excessive production during March, on
March 31 there were 30,000 units of Product W in the ending inventory.
Given this information, Tibu Company’s production of Product W for the
month of April should be
60000
SEBI requires non Finance Companies to present cash flows using ___
method
Indirect
The cost allocation process comprise of one of the basic activities which is
Rationalisation of activities
Which of the following equation represents breakeven point? Ans-

Contribution=Fixed Cost
For a financial institution interest paid and interest and dividends received
are classified as cash flow
Ans- Operating
Assumptions regarding the VCP graphs are
Ans- All of these
The costs of a single process, or a series of processes that simultaneously

produce two or more products of significant sales value is
Ans- Joint cost
is not charged on items included in capital work in progress Ans-

Depreciation
companies earn interest from investments and therefore for them interest
income is not revenue
Ans- Non-financial
The term ‘financial statement’ covers
Ans- Profit & Loss Statement and Balance sheet If a company revalues its
assets, its net worth Ans- Will improve
is a proxy for pre-tax cash operating margins Ans-EBITDA
analysis is used for trend analysis Ans-Horizontal
Quick ratio is also called Ans- acid-test ratio
refers to the ability to direct the use of and obtain substantially all of the
remaining benefits from the assets.
Ans- control of an asset
In two stage system whether traditional or ABC will first allocate cost to
Ans- Departments or activities and then allocates costs to product or services
Many manufactures make more than one type of product and the relative
proportion of each product solid in the aggregate sales is known as the
Ans-sales-mix
If an accounting firms certifies a company’s financial statement, it should

have to make the firm financial situation look better than it is
Ans- no financial incentive

The overheads are absorbed into different products under activity costing
system Ans- Using departmental overhead rate
An asset is classified as a asset if its value is not determinable in a

fixed amount of cash. Ans- Non-monetary
All those costs which affect the decision are known as- Ans- Relevant costs
A capacity in which the normal working hours of a machine or worker or

employee are considered is known as ?
Ans-Practical capacity
Fixed costs are fixed for a relevant range of volume for a given
Ans- budget period
Income from ‘after sales services’ to customers should be included in
Ans-Other operating income
The Activity Based Costing (ABC) system has advantages
Ans-All of these
The following is true about activity-based costing
Ans- It is a two-stage cost allocation system that allocates costs to activities

and then to products based on their use of the activities
Current tax asset is classified as
Ans-Current asset
Interest received; dividend received are an example of
Ans-Other income
are the only self-generated intangible assets allowed to be recognized in

financial statement by GAAP
Ans-Softwares
Ethics and integrity standards are based on the following except: Ans-There
are no clear rules and responsibilities in the group.
Which report gives a review on the profitability of a business Ans-Income

statement
Costs that consist of both fixed costs and variable costs are known as
Ans- Mixed costs
It is a separate performance obligation Ans-Service warranty

The fixed manufacturing cost can be carried forward to next period as part of
inventory cost in which of the following costing system ?
Ans- Full costing
The difference between total sales and total variable costs is called as
Ans- The Contribution margin. P&L statement is also known as
Ans-All of these
The following is included in overheads:
Ans-All of these
Relevant costs are costs which would change as a result of the_ Ans-
Decision
is the traditional method of income determination which includes all

manufacturing costs i.e. variable and fixed expenses.
Ans-Absorption costing
Financial assistance to companies which invest in pollution control equipment

is an example of
Ans- Government grant

are the expenses related to business activity but are disproportionate in
amount or occur infrequently
Ans- Exceptional items
When production is less than units sold then the income under absorption
costing will be ____ in comparison to income under variable costing
Higher
Lower
Same
Difference of production and sales unit doesn’t affect profits.
Ans- Lower
When production is more than units sold then the income under absorption
costing will be ____ in comparison to income under variable costing
Ans- Higher
When a department or product line is dropped, the common fixed costs

which had been allocated to that department:
Ans- are allocated to the remaining departments or product lines
Cash flow arising from the purchase and sale of dealing or trading securities
are classified as for a brokerage firm
Ans- Operating activities

When corporations seek to hide their true financial situation, the pressure to
engage in
bookkeeping techniques falls on their accountants. Ans- Unethical & Illegal
Costs that tend to vary in direct proportion or in a one-to-one relationship to

changes in production activity sales activity or some other measure of
volume within relevant range for a given budget period are referred to as
Ans- Variable Costs
is an example of non-cash expense. Ans- Depreciation
From total income, when CoGS, Admin and Selling & Distribution expenses
are deducted resulting profit is known as
Ans-EBITDA
The basis of absorption of factory overheads is
Ans-All of these
Flexible budget estimates costs at several levels of

Ans- Activity
Flexible budgets as a tool of planning and control, are superior to fixed

budgets. The major weaknesses of fixed budgets are their inability to:
Ans- Show the potential variability of various estimates used in the

preparation of the budget
Master budget is the overall budget for the entire Ans- Organisation
The principle underlying the variable costing is that the fixed manufacturing
overheads are Ans-all of these
For an organization involved in construction of diverse type of housing like

HIG, MIG and LIG houses, which of the following costing system is
appropriate for absorptions of overheads?
Ans-Absorption costing
Which of the following would not cause the breakeven point to change? Ans-
Sales volume decreases
Buy back of shares is an ____ of fund

Ans- Investment
Notes
Cost-Volume-Profit Analysis
2. Break-even analysis assumes that over the relevant range: (CPA

adapted)
A. Total Fixed Costs are nonlinear.
B. Total Costs are unchanged.
C. Unit Variable Costs are unchanged.
D. Unit Revenues are nonlinear.
The assumption is that over the relevant range unit variable costs remain
unchanged or linear.
3. At the break-even point, the total contribution margin equals total:

(CPA adapted)
A. Variable costs.
B. Sales.
C. Selling and administrative costs.
D. Fixed costs.
This statement defines break-even (e.g., contribution margin – fixed costs =
zero).
4. On January 1, 2013, Lake increased its direct labor wage rates. All
other budgeted costs and revenues were unchanged. How did this
increase affect Lake’s budgeted break-even point
5.
and budgeted margin of safety? (CPA adapted)
A. Option A
B. Option B
C. Option C
D. Option D
Direct labor is a variable cost, so the unit contribution margin will decrease,
increasing the break-even point. Since break-even increases and sales are
unchanged, the margin of safety decreases.
5. During 2012, Thor Lab supplied hospitals with a comprehensive

diagnostic kit for $120.
At a volume of 80,000 kits, Thor had fixed costs of $1,000,000 and a profit
before income taxes of
$200,000. Due to an adverse legal decision, Thor’s 2013 liability insurance

increased by $1,200,000 over 2012. Assuming the volume and other costs
are unchanged, what should the 2013 price be if Thor is to make the same
$200,000 profit before income taxes? (CPA adapted)
A. $122.50.
B. $135.00.
C. $152.50.
D. $240.00.
2012 CM% is 12.5% ($15/$120). 2013 CM = $2,400,000 ($1,000,000 +

$200,000; 2013 CM per unit =
$2,400,000/80,000 units = $30 CM per unit; 2013 selling price per unit =
$30/.125 = $240
6.
7.
 The following information pertains to Syl :
What is Syl’s break-even point in sales dollars? (CPA adapted)
A. $200,000.
B. $160,000.
$50,000 ($800,000 – 160,000)/$800,000 = 80%;
C.
$40,000/.80 = $50,000.
D. $40,000.
7. The following pertains to Clove Co. for the year ending December
31, 2012:
Clove’s margin of safety is: (CPA adapted)
$300,000. $1,000,000 – $700,000 =

A.
$300,000.
B. $400,000.
C. $500,000.
D. $800,000.
8.
9.
 Kator manufactures industrial components. One of its products used

as a subcomponent in auto manufacturing is KB-96. The selling
price and cost per unit data for 9,000 units of KB-96 are as follows.
During the next year, sales of KB-96 are expected to be 10,000 units. All
costs will remain the same except for fixed manufacturing overhead, which
will increase by 20%,
and material, which will increase by 10%. The selling price per unit for next
year will be $160. Based on these data, Kator Inc.’s total contribution margin
for next year will be: (CMA adapted)
A. $882,000.
B. $980,000.
C. $972,000.
$1,080,000. [($160 – 22 – 15 – 12 – 3)10,000 units] =

D.
$1,080,000.
9.
10.
 Sanfran has the following data:
How many units must Sanfran produce and sell in order to break even?
A. 8,333 units.
B. 12,500 units.
C. 15,000 units.
22,500 units. ($150,000 + 120,000)/($40 – 22 – 6) = 22,500

D.
units
.
10.
11.
How many units must Sanfran produce and sell in order to achieve a profit of
$30,000 per month?
A. 10,000 units.
B. 8,824 units.
25,000 units. ($150,000 + 120,000 + 30,000)/($40 – 22 –

C.
6) = 25,000 units.
D. 15,000 units.
11.
12.
If Sanfran produces and sells 30,000 units, what is the margin of safety in
units?
A. 5,000 units.
B. 7,500 units. 30,000 – 22,500 = 7,500 units
C. 22,500 units.
D. 30,000 units.
12. Acme Sales has two store locations. Store A has fixed costs of
$125,000 per month and a variable cost ratio of 60%. Store B has
fixed costs of $200,000 per month and a variable cost ratio of 30%.
What is the break-even sales volume for Store B?
A. $666,667.
B. $325,000.
C. $285,714. $200,000/(1 – .3) = $285,714.
D. Cannot determine with the information given.
13. Which of the following would not cause the break-even point to
change?
A. Sales price increases.
B. Sales volume increases.
C. Fixed cost increases.
D. Variable costs per unit decreases.
E. Product mix shifts towards the cheaper products.
Volume changes do not affect the break-

even point.
14. If the fixed costs for a product increase and the variable costs
(as a percentage of sales dollars) increase, what will be the effect
on the contribution margin ratio and the break-even point,
respectively?
A. Option A
B. Option B
C. Option C
D. Option D
A variable cost increase will decrease

CM%; a fixed cost increase will increase
the break-even point.
15. A company’s break-even point will not be increased by:
A. an increase in the number of units produced and sold.
B. a decrease in the selling price per unit.
C. an increase in the variable cost per unit.
D. an increase in the variable cost ratio.
E. an increase in total fixed costs.

even point.
16. A company’s break-even point will not be changed by:
A. a change in total fixed costs.
B. a change in the number of units produced and sold.
C. a change in the variable cost ratio.
D. a change in the contribution margin ratio.
E. a change in the product mix.

even point.
17. If both the variable cost per unit and the selling price per unit
increase, the new contribution margin ratio in relation to the old
contribution margin ratio will be:
A. Lower.
B. Higher.
C. Unchanged.
D. Cannot determine with the information given.
Need to know size of increase of each.

18.
19.
 Misa Corporation manufactures circuit boards and is in the process

of preparing next year’s The pro forma income statement for the
current year is presented below.
For the coming year, the management of Misa Corporation anticipates a 5

percent decrease in sales, a 10 percent increase in all variable costs, and a
$45,000 increase in fixed costs.
The operating profit for next year would be:
A. $477,500.
B. $492,500.
C. $552,500.
D. $831,250.
($3,500,000 × .95) – ($1,775,000 × 1.10)

– ($850,000 + 45,000) = $477,500.
19. You have been provided with the following information:
If sales decrease by 10%, what level of fixed costs will maintain the current
operating profit?
A. $12,000.
B. $20,400. $36,000 × .9 – 12,000 = $20,400.
C. $21,600.
D. $24,000.
20. The difference between total sales in dollars and total variable
costs is called:
A. operating profit.
B. net profit.
C. the gross margin.
D. the contribution margin.
Contribution margin = Total sales – Total

variable costs.
21. Which of the following formulas is used to calculate the

contribution margin ratio?
A. (Sales – Fixed costs) ÷ Sales.
B. (Sales – Cost of goods sold) ÷ Sales.
C. (Sales – Variable costs) ÷ Sales.
D. (Sales – Total costs) ÷ Sales.

(Sales – Variable costs) ÷ Sales.
22. Break-even analysis assumes that:
A. total costs are constant.
B. the average fixed cost per unit is constant.
C. the average variable cost per unit is constant.
D. variable costs are nonlinear.
The average variable cost per unit is

constant.
23. If Q equals the level of output, P is the selling price per unit, V is
the variable cost per unit, and F is the fixed cost, then the break-
even point in units is:
A. Q ÷ (P-V).
B. F ÷ (P-V).
C. V ÷ (P-V).
D. F ÷ [Q(P-V)].
Unit sales to break-even = Fixed costs ÷

Unit CM or F ÷ (P-V).
24. The margin of safety percentage is computed as:
A. Break-even sales ÷ Total sales.
B. Total sales – Break-even sales.
C. (Total sales – Break-even sales) ÷ Break-even sales.
D. (Total sales – Break-even sales) ÷ Total sales.
Margin of safety percentage = Margin of

safety in dollars ÷ Total budgeted (or
actual) sales
25. The amount by which a company’s sales can decline before

losses are incurred is called the:
A. contribution margin ratio.
B. degree of operating leverage.
C. margin of safety.
D. contribution margin.
This is a basic description for margin of safety.
26.
27.
 Mancuso Corporation has provided its contribution format income

statement for The company produces and sells a single product.
If the company sells 3,100 units, its total contribution margin should be
closest to:
A. $27,045.
B. $181,000.
C. $162,400.
D. $173,600.
See calculation below.
* Sales $269,700 ÷ 2,900 = $93.00 per unit Variable costs $107,300

÷ 2,900 = $37.00 per unit Sales 3,100 units × $93 per unit =
$288,300
Variable costs (Manufacturing) 3,100 units

× $37 per unit = $114,700
27. Which of the following statements is (are) true regarding cost

behaviors?
o In general, accounting records accumulate cost information
according to its
o Cost behaviors are the most important consideration in
managerial decision
A. Only A is true.
B. Only B is true.
C. Both A and B are true.
D. Neither A nor B is true.
Accounting records are by account and not by behavior.
28. Which cost estimation method does not use the company’s cost
information as its primary source of information about the
relationship between total costs and activity levels?
A. Scattergraph.
B. High-low.
C. Account analysis.
D. Regression analysis.
E. Engineering estimates.
The engineering method uses time and motion studies (estimates), rather
than cost estimates.
29. A manager is trying to estimate the manufacturing costs of a

new product. The company makes several other products that utilize
some of the same manufacturing procedures as the new product.
Which cost estimation method would be the best method to
determine the total cost of manufacturing the new product?
A. Engineering estimates.
B. Regression analysis.
D. Scattergraph.
E. High-low.
A new product has no previous history so there is no past data regression or

account analysis ability.
30. Engineering cost estimates are usually based on operating

conditions that are considered:
A. optimal.
B. practical.
C. attainable.
D. historical.
E. realistic.
Engineering estimates are often based on optimal conditions. This a difficulty

in selecting this technique.
31. Which of the following costs would most likely be classified as

variable, assuming the account analysis method is used to
determine cost behaviors?
A. Indirect materials.
B. Supervisory salaries.
C. Equipment maintenance.
D. Annual Christmas party.
E. Building occupancy costs.
Only indirect materials would have variable behavior. All the other items
have fixed behavior.
32. In the cost equation TC = F + VX, X is best described as the:
A. costs that do not vary with changes in the activity level.
B. costs that do vary with changes in the activity level.
C. total cost estimate at a particular activity level.
D. activity level used to estimate the total cost.
For example, this would be the volume in number of units of output, by

definition
33. In the cost equation TC = F + VX, V is best described as the:
A. costs that do not vary with changes in the activity level.
B. intercept of the cost equation.
C. slope of the cost equation.
D. activity level used to estimate the dependent variable.
This is the variable cost per unit which makes up the slope of the variable
cost curve.
34. Which of the following cost estimation methods finds the fixed
portion of a mixed cost before calculating the variable portion?
A. Scattergraph.
B. High-low method.
D. Linear regression.
E. Engineering approach.
All of the other methods estimate the variable portion either first or
simultaneously with fixed costs.
35. The term “relevant range” as used in cost accounting means the
range over which:
A. relevant costs are incurred.
B. costs may fluctuate.
C. cost relationships are valid.
D. cost data is available.
This is the level of activity for which a cost estimate may be valid.
36. The of the following cost estimation methods finds the variable
portion of a mixed cost before calculating the fixed portion?
A. Scattergraph.
B. High-low method.
D. Linear regression.
E. Engineering approach.
Account analysis finds the fixed first; regression and engineering find fixed
and variable simultaneously.
37. A disadvantage of the high-low method of cost analysis is that it:

A. typically results in a totally inaccurate cost formula.
B. is too time consuming to apply.
uses only two data points, which may not be representative of

C.
normal conditions.
D. relies totally on the judgment of the person performing the cost analysis.
The estimates are not always inaccurate, it is fast to apply, and it doesn’t
rely solely on judgment.
38. In the standard regression equation of y = a + bx, the letter b is

best described as the:
A. independent variable.
B. dependent variable.
C. slope of the equation.
D. intercept of the equation.
This a basic definition of the term of the formula.
38 .In the standard regression equation of y = a + bx, the letter a is best

described as the:

39. In the standard regression equation of y = a + bx, the letter y is
best described as the:
40. Given actual amounts of a semivariable cost for various levels of

output, the method that will always give the most reliable measure
of the fixed and variable components is the:
A. high-low method.
B. linear regression method.
C. scattergraph method.
D. account analysis method.
Linear regression will always give the best line, high-low may give the best
line, scattergraph and account analysis rely on judgment.
41. Which of the following statements regarding regression analysis

is (are) true?
o One way to control the effects of a nonlinear relationship
between total costs and activity is reduce the relevant
range.
o The linear cost estimate tends to understate the slope of
the cost line in ranges close to
A. Only A is true.
B. Only B is true.
C. Both A and B are true.
D. Neither A nor B is true.
When capacity is approached there are more scheduling problems and

overtime may be needed, changing the variable cost.
42. Mount Company incurred a total cost of $8,600 to produce 400

units of pulp. Each unit of pulp required five (5) direct labor hours to
What is the total fixed cost if the variable cost was $1.50 per direct
labor hour?
A. $1,700.
B. $3,000.
C. $5,600.
D. $8,000.
$8,600 = FC + $1.50(400)(5); FC = $5,600
43. Given the following information, compute the total number of

units for the period:
A. 360.
B. 432.
C. 640.
D. 840.
$132,600 = $75(units) + 12,000($2.70) + .50(12,000)($2.70) +

$36,000; Units = 640
44. The Shapely Company uses the high-low method to determine

its cost equation. The following information was gathered for the
past year:
What are the direct labor costs per machine hour?
A. $20.00.
B. $16.00.
C. $14.29.
D. $10.00.
VC per M/C Hr. = ($200,000 – 120,000)/(14,000 – 6,000) = $10.00
45. A common cost that should not be assigned to a particular

product on a segmented income statement is:
46. the product’s advertising
B. the salary of the corporation

president. X
1. direct materials
2. the product manager’s salary.
46. Segment margin is sales minus:
47. variable
48. traceable fixed expenses.
49. variable expenses and common fixed
D. variable expenses and traceable

fixed
expenses.
X
47.
48.
 Would the following costs be classified as product or period costs

under variable costing at a retail clothing store?
1. Option A
2. Option B
3. Option C
D. Option D X
Chapter 6 multiple choice questions Variable costing

1.
2.
 Would the following costs be classified as product or period costs

under variable costing at a retail clothing store?
1. Option A
2. Option B
3. Option C
D. Option D X
2.
3.
 Fixed manufacturing overhead is included in product costs under:

1. Option A
2. Option B
3. Option C
D. Option D X
3. Which of the following are considered to be product costs under

variable costing?
1. Variable manufacturing
2. Fixed manufacturing
 Selling and administrative
A. I. X
1. I and
2. I and
3. I, II, and
4. Which of the following are considered to be product costs under

absorption costing?
1. Variable manufacturing
2. Fixed manufacturing
 Selling and administrative
1. I, II, and
2. I and
3. I and
4.
5. Under variable costing, costs that are treated as period costs

include:
1. only fixed manufacturing
2. both variable and fixed manufacturing
C. all fixed costs. X

1. only fixed selling and administrative
6. Selling and administrative expenses are considered to be:

1. a product cost under variable
2. a product cost under absorption
3. part of fixed manufacturing overhead under variable
D. a period cost under variable

costing. X
7. A portion of the total fixed manufacturing overhead cost incurred

during a period may:
A. be excluded from cost of goods sold

under absorption
costing.
X
1. be charged as a period cost with the remainder deferred under
variable
2. never be excluded from cost of goods sold under absorption
3. never be excluded from cost of goods sold under variable
8. Net operating income reported under absorption costing will exceed

net operating income reported under variable costing for a given
period if:
1. production equals sales for that
B. production exceeds sales for that

period. X
1. sales exceed production for that
2. the variable manufacturing overhead exceeds the fixed
manufacturing
9. If the number of units produced exceeds the number of units sold,

then net operating income under absorption costing will:
1. be equal to the net operating income under variable
B. be greater than net operating income

under variable
costing.
X
1. be equal to the net operating income under variable costing plus
total fixed manufacturing
2. be equal to the net operating income under variable costing less
total fixed manufacturing
10. Over an extended period of time in which the final ending

inventories are zero, the accumulated net operating income figures
reported under absorption costing will be:
1. greater than those reported under variable
2. less than those reported under variable costing.
C. the same as those reported under
variable
costing.
X
1. higher or lower since no generalization can be made.
11. A common cost that should not be assigned to a particular

product on a segmented income statement is:
1. the product’s advertising
B. the salary of the corporation

president. X
1. direct materials
2. the product manager’s salary.
12. Segment margin is sales minus:

1. variable
2. traceable fixed expenses.
3. variable expenses and common fixed
D. variable expenses and traceable

fixed
expenses.
X
13.
14.
 Gangwer Corporation produces a single product and has the

following cost structure:
The absorption costing unit product cost is:
A. $95 X
1. $119
2. $61
3. $56
14.
15.
 A manufacturing company that produces a single product has

provided the following data concerning its most recent month of
operations:
What is the total period cost for the month under variable costing? A.
$185,000
1. $117,600
2. $273,200
D. $302,600 X
15.
16.
 Cockriel Inc., which produces a single product, has provided the

following data for its most recent month of operations:
There were no beginning or ending inventories. The variable costing unit

product cost was:
1. $42
2. $43
C. $37 X DM + DL +
VMOH (14 +22+1= 37)
1. $48
16.
17.
 Roy Corporation produces a single product. During July, Roy

produced 10,000 Costs incurred during the month were as follows:
Under absorption costing, any unsold units would be carried in the inventory
account at a unit product cost of:
5. $5.10
B. $4.40 X 10,000
+20,000+ 5,000+ 9,000 = 44,000/ 10,000
Units = 4.40
3. $3.80
4. $3.50
17. Last year, Heidenescher Corporation’s variable costing net

operating income was $63,600 and its inventory decreased by 600
Fixed manufacturing overhead cost was $1 per unit. What was the
absorption costing net operating income last year?
18. $64,200
B. $63,000 X
1. $63,600
2. $600
18. Sproles Inc. manufactures a variety of products. Variable costing
net operating income was $90,500 last year and its inventory
decreased by 3,500 units. Fixed manufacturing overhead cost was
$6 per unit. What was the absorption costing net operating income
last year?
19. $90,500
20. $21,000
C. $69,500 X
1. $111,500
19. Tsuchiya Corporation manufactures a variety of products. Last

year, the company’s variable costing net operating income was
$57,500. Fixed manufacturing overhead costs deferred in inventory
under absorption costing amounted to $35,400. What was the
absorption costing net operating income last year?
20. $22,100
21. $35,400
22. $57,500
D. $92,900 X
20. The ARB Company has two divisions: Electronics and DVD/Video
Sales. Electronics has traceable fixed expenses of $146,280 and the
DVD/Video Sales has traceable fixed expenses of $81,765. If ARB
Company has a total of $322,490 in fixed expenses, what are its
common fixed expenses?
A. $94,445 X
1. $322,490
2. $228,045
3. $47,223
Common fixed expenses = Total fixed expenses – Traceable fixed expenses
= $322,490 – ($146,280 + $81,765) =$94,445
21. Sugiki Corporation has two divisions: the Alpha Division and the
Delta Division. The Alpha Division has sales of $820,000, variable
expenses of $369,000, and traceable fixed expenses of $347,300.
The Delta Division has sales of $460,000, variable expenses of
$294,400, and traceable fixed expenses of $134,100. The total
amount of common fixed expenses not traceable to the individual
divisions is $97,300. What is the company’s net operating income?
22. $135,200
B. $37,900 X
1. $616,600
2. $519,300
Ch 7 MULTIPLE CHOICES ( ABC)
1. is the length of time required to produce one

product;
is the number of units that can be produced in a given
period of
a. Cycle time; velocity
b. Velocity; cycle time
c. Activity time; cycle production
d. Cycle time; activity output
e. Velocity; cycle production
2. The identification and elimination of activities that fail to add value

refers to:
a. activity selection
b. activity sharing
c. activity reduction
d. activity elimination
3. The process of choosing among different sets of activities caused by

competing strategies refers to:
a. activity elimination
b. activity reduction
c. activity selection
d. activity sharing
4. The process of decreasing the time and resources required by an

activity is known as:
a. activity reduction
b. activity sharing
c. activity elimination
d. activity selection
5. Increasing the efficiency of necessary activities by using economies

of scale is known as:
a. activity elimination
b. activity sharing
c. activity reduction
d. activity selection
6. Setups, material handling, and inspection are all possible examples

of:
a. non-unit level overhead activities
b. unit level overhead activities
c. product diversity
d. sustainable development
e. none of these
7. is present whenever products have different consumption ratios for

different overhead
a. Volume costing
b. Activity based costing
c. Product diversity
d. Allocable costing
e. None of these
8. A ratio measures the proportion of an activity consumed by a
a. production
b. consumption
c. efficiency
d. quality
e. usage
9. A costing system that first assigns costs to activities and then to

products is:
a. activity based costing
b. kaizen costing
c. production costing
d. volume based costing
e. unit-level costing
10. A list of activities accompanied by information that describes

each activity is an activity .
a. manifesto
b. Diary
c. Journal
d. dictionary
e. Note
11. are assigned using direct tracing and resource

a. Resources
b. Costs
c. Profits
d. Materials
e. Products
12. is concerned with identifying the root causes of activity
a. Direct analysis
b. Activity analysis
c. Driver analysis
d. Causal analysis
e. None of these
13. Which of the following is not one of the three conditions

necessary to be classified as a discretionary activity?
a. the activity produces a change of state
b. the change of state was not achievable by preceding activities
c. the activity enables other activities to be performed
d. the activity increases efficiency
14. activities are unnecessary
a. Frivolous
b. Nonvalue-added
c. Expensive
d. Under-performing
e. none of these
15. Using only unit-based activity drivers to assign non-unit-related

overhead costs can cause:
a. distorted product costs
b. product diversity
c. efficiency
d. activity sharing
e. none of these
16. Activity drivers can be classified as either or .
a. unit-level; non-unit-level
b. exact; inexact
c. inputs; outputs
d. right; wrong
17. In an activity dictionary, types of resources consumed is an

example of a(n)
a. activity sharing
b. Quality
c. activity attribute
d. Allocation
18. A is derived from the interview process (or written survey).
a. work distribution matrix
b. activity explanation matrix
c. driver consumption matrix
d. value analysis matrix
e. tracing matrix
19. To calculate an activity rate, the of each activity must be
a. Value
b. expenditure level
c. processing ratio
d. practical capacity
20. Which of the following is not a possible source of customer

diversity?
a. sales support
b. order frequency
c. delivery frequency
d. geographic distance
e. Pricing
21. All of the following are supplier-driven activities except:
a. Receiving
b. Purchasing
c. Efficiency
d. inspection of incoming components
22. Which is NOT a component of process value analysis?
a. driver analysis
b. Velocity
c. activity analysis
d. performance measurement
e. none of these
23. Complying with the filing requirements of the IRS is an example

of a:
a. recreational activity
b. discretionary activity
c. recommended activity
d. required activity
24. Which of the following is NOT an example of a nonvalue-added

activity?
a. Inspecting
b. Scheduling
c. Moving
d. Waiting
e. Supervising
25. focuses on the relationship of activity inputs to activity
a. Quality
b. Efficiency
c. Time
d. Cycle time
e. none of these
From the following details calculate Interest Coverage Ratio:
Net profit after tax – ₹ 7,00,000
6% debentures of ₹ 20,00,000
Tax Rate 30%
Solution :
Net Profit Before Tax – Tax paid = Net Profit After Tax
x – 30/100 (x) = ₹7,00,000
x = ₹ 7,00,000 (100/70)
x = ₹ 10,00,000
Net Profit Before Tax = ₹ 10,00,000
Interest Payment = 6/100 (₹ 20,00,000) = ₹ 1,20,000
Earning Before Interest and Tax = Net Profit Before Tax + Interest Payment
= ₹ 10,00,000 + ₹ 1,20,000
= ₹11,20,000
Interest Coverage ration =Earning Before Interest and TaxInterest
Expense =Earning Before Interest and TaxInterest Expense
Interest Coverage Ratio =₹11,20,000/₹1,20,000=₹11,20,000/₹1,20,000
Interest Coverage Ratio =9.33 times.

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Which of the following is TRUE about the revenue recognition principle?

P&L account can also be named as

Under which head of the Balance Sheet do we show tangible assets?

State which of the following statement is true:

What are the other motives behind in uenced accounting?

The Accounting Standards Board was set up by

Primary objective of cash ow statement is to provide information about:

If a rm have a current ratio of 1, then its net working capital will be

Which of the following is a nancing activity?

The term current asset doesn’t cover

Misclassi cation of revenue expense as a capital expense leads to:

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What is the accrual basis of accounting?

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The purpose of directors responsibility statement is to give an assurance to stakeholders that

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d. Revenue Is Recorded When Cash Is Received

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What are the basic financial statements provided in an annual report?

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The concept of financial statements quality implies:

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d. Cash Recoveries From A Loan

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Which of the following is TRUE about the revenue recognition principle?

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d. The Customer Pays For The Goods Sold

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Identify the transaction not involving outflow of cash.

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The existence of significant off-balance sheet financing mainly specifies:

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d. Profit Earned During The Year

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One of the example of influenced accounting problems is:

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d. The Companies Act, 2013

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Which of the following statement is true about Ratio Analysis?

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Which one of the following is correct?

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If a rm have a current ratio of 1, then its net working capital will be

b. Central Board Of Direct Taxes