Costing MCQ Questions and Solutions with Explanations | Commerce

A. flexible budget

B. total budget

C. master budget

D. zero base budget

A. a-3, b-4, c-1, d-2

B. a-3, b-4, c-2, d-1

C. a-2, b-4, c-1, d-3

D. a-2, b-3, c-4, d-1

A. fixed

B. variable

C. adjustable

D. semi-variable

A. Financial accounting

B. Cost accounting

C. Management accounting

D. None of these

A. fixed expenses and the contribution margin ratio

B. variable expenses and the contribution margin ratio

C. fixed expenses and the unit contribution margin

D. variable expenses and the unit contribution margin

A. AS 11

B. AS 21

C. AS 22

D. AS 23

A. Actual quantity of materials used

B. Budgeted quantity of materials used

C. Standard quantity of materials used

D. Either A or B

A. insufficient advertising

B. restrictions imposed by quota

C. low market demand

D. shortage of power

A. Difference

B. Variance

C. Discrepancy

D. Inconsistency

A. traditional method of lending

B. turnover method

C. cash budget method

D. None of the above