If the actual loss is more than the estimated normal loss, then it is _________.
A. abnormal loss
B. normal loss
C. seasonal loss
D. abnormal gain
Answer: Option A
A. abnormal loss
B. normal loss
C. seasonal loss
D. abnormal gain
Answer: Option A
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
Option D