51. Given below are two statement. one labelled as Assertion (A) and other as Reason (R):
Assertion (A): Cost accounting is complementary to financial accounting.
Reason (R): The result of cost accounting are not trustworthy.
Choose the correct answer
Assertion (A): Cost accounting is complementary to financial accounting.
Reason (R): The result of cost accounting are not trustworthy.
Choose the correct answer
52. Product A requires 10 kg of material at the rate of Rs. 5 per kg. The actual consumption of material for the manufacturing of product A comes to 12 kg of material at the rate of Rs. 6 per kg. Direct material cost variance is
53. Cash budget is based on
54. In an activity based costing implementation, product's diverse demand is based on
55. Which of the following statements is correct in regards to Kaijen costing?
1. It is a system of cost reduction.
2. It is a system of continuous improvement without negative effects on the quality, staff and security.
Select the correct answer:
1. It is a system of cost reduction.
2. It is a system of continuous improvement without negative effects on the quality, staff and security.
Select the correct answer:
56. Match the following.
List-I
List-II
a. Variable costing
1. Absorption costing
b. Valuation of stock is higher
2. Fixed cost is excluded from inventory valuation
c. Marginal and differential costs are same
3. Marginal costing
d. Marginal costing
4. No change in fixed cost
| List-I | List-II |
| a. Variable costing | 1. Absorption costing |
| b. Valuation of stock is higher | 2. Fixed cost is excluded from inventory valuation |
| c. Marginal and differential costs are same | 3. Marginal costing |
| d. Marginal costing | 4. No change in fixed cost |
57. Standard costs is . . . . . . . .
58. Marginal cost is a:
59. The cost of . . . . . . . . process loss is absorbed in the cost of production of good units.
60. Match the following.
List-I
List-II
a. Earning ability of firm
1. Basis of accounting
b. Conservatism
2. P/V ratio
c. Cash profit
3. Cash flow statement
d. Cash and accrual
4. Prudence
| List-I | List-II |
| a. Earning ability of firm | 1. Basis of accounting |
| b. Conservatism | 2. P/V ratio |
| c. Cash profit | 3. Cash flow statement |
| d. Cash and accrual | 4. Prudence |
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