What is the gross profit if the total sale is Rs. 2,60,000, the cost of net goods sold is Rs. 2,00,000, and sales return is Rs. 10,000?

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

Cost classification can be done in ________.

A. two ways

B. three ways

C. four ways

D. several ways

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