Match the following.
| List-I | List-II |
| a. Absorption costing | 1. . . . . . . . . is a logical extension of marginal costing. |
| b. Fixed expenses | 2. . . . . . . . . is a valuable adjust to standard costing and budgetary costing. |
| c. Marginal costing | 3. Contribution = . . . . . . . . + Profit. |
| d. Break-even analysis | 4. . . . . . . . . is not very helpful in taking managerial decisions. |
A. a-4, b-3, c-2, d-1
B. a-2, b-1, c-4, d-3
C. a-3, b-2, c-4, d-1
D. a-4, b-3, c-1, d-2
Answer: Option A
Related Questions on Costing
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
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