Costing MCQ Questions and Solutions with Explanations | Commerce

A. decreases, increases

B. increase, decreasing

C. constant, increase

D. increase, constant

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

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

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

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

A. Master budget

B. Sales budget

C. Performance budget

D. Cash budget

A. over applied

B. under applied

C. Both A and B

D. None of these

A. Price increase in raw materials

B. Price decrease in raw materials

C. Less than anticipated normal wastage in the manufacturing process

D. More than anticipated normal wastage in the manufacturing process

A. Relationship between revenue and costs at various levels of output

B. Volume or output level at which the enterprises break-even

C. Amount of sales revenue needed to cover enterprise variable costs

D. Amount of sales revenue needed to cover enterprise fixed costs

A. $${\frac{1}{3}^{{\text{rd}}}}{\text{of Notional Profit}} \times \frac{{{\text{Cash received}}}}{{{\text{Work certified}}}}$$

B. $${\frac{1}{2}^{{\text{nd}}}}{\text{of Notional Profit}} \times \frac{{{\text{Cash received}}}}{{{\text{Work certified}}}}$$

C. $${\frac{2}{3}^{{\text{rd}}}}{\text{of Notional Profit}} \times \frac{{{\text{Cash received}}}}{{{\text{Work certified}}}}$$

D. $${\text{Full Notional Profit}}$$

A. 49,000

B. 70,000

C. 21,000

D. 91,000

A. process costing

B. activity based costing

C. marginal costing

D. standard costing

A. making a list of all the present ratios of the firm

B. comparison of liquidity ratios with other kind ofratio of the firm

C. comparison of the ratio of the firm relating to the performance of the firm

D. comparison of the firm's past and current ratios with future ratios to ascertain the relative strengths and weakness in the past and future