91. Statement (A): It is necessary to tally current costs with current income in order to find out the correct profit.
Reason (R): LIFO ensures matching of current costs with current income.
Reason (R): LIFO ensures matching of current costs with current income.
92. Basis of apportionment of creche expenses is . . . . . . . .
93. Cost Accounting has been developed because of . . . . . . . . of Financial Accounting.
94. If the amount of work certified is less than . . . . . . . . of the contract price, then no profit should be taken to Profit & Loss Account.
95. Contracts where all agreed costs are recovered is known as:
96. Match the items of List-I with those of List-II and indicate the correct answer
List-I
List-II
a. Acid test ratio
1. Profitability analysis
b. Debt service coverage ratio
2. Activity analysis
c. Debt equity ratio
3. Liquidity analysis
d. Stock turnover ratio
4. Long-term solvency analysis
| List-I | List-II |
| a. Acid test ratio | 1. Profitability analysis |
| b. Debt service coverage ratio | 2. Activity analysis |
| c. Debt equity ratio | 3. Liquidity analysis |
| d. Stock turnover ratio | 4. Long-term solvency analysis |
97. Material mix variance = standard cost of standard mix - . . . . . . . .
98. Administration and management overheads are realized as a percentage
99. The origin of Kaizen costing in
100. Which of the following is not an example of financing activities with reference to cash flow statement?
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