| List-I | List-II |
| a. Increase in fund | 1. Application of funds |
| b. Goods purchased on credit | 2. Drain in working capital |
| c. Commission outstanding | 3. Sources of funds |
| d. Net loss | 4. No flow of funds |
A. a-4, b-3, c-2, d-1
B. a-4, b-3, c-1, d-2
C. a-3, b-4, c-1, d-2
D. a-3, b-4, c-2, d-1
Answer: Option C
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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