Costing MCQ Questions and Solutions with Explanations | Commerce
Costing MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Costing MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-9 section-8
Which of the following are possible causes of material price variance?
1. Change in market price.
2. Use of poor quality of material.
3. Inefficient buying.
4. Untimely buying.
5. Paying overtime for urgent work.
6. Use of substitute material of different prices.
Select the correct answer
Determine the debtors turnover ratio if, closing debtors is Rs. 40,000, cash sale is 25% of credit sales, and excess of closing debtors over opening debtors is Rs. 20,000.
Which of the following statements are correct?
I. Inventory includes raw materials, finished goods and work-in-progress.
II. Inventory is a part of the working capital.
III. Inventory includes goods likely to be purchased.
