Costing MCQ Questions and Solutions with Explanations | Commerce

A. cash budget

B. master budget

C. budget for the key factor

D. sales budget

A. 1 : 1

B. 2 : 1

C. 3 : 1

D. 4 : 1

A. kilo watt hour

B. per household

C. voltage

D. None of these

A. Raw material conversion period, work-in-progress conversion period, Finished goods conversion period, Receivables conversion period

B. Raw material conversion period, work-in-progress conversion period, Creditors payment period, Receivables conversion period

C. Creditor payment period, Raw material conversion period, Receivables conversion period, work-in-progress conversion

D. Raw material conversion period, Finished goods conversion period, work-in-progress conversion period, Receivables conversion period

A. Both (A) and (R) are correct

B. (A) is correct, but (R) is not correct

C. (A) is not correct, but (R) is correct

D. Both (A) and (R) are incorrect

A. The shortage or excess of cash would appear in a particular period

B. All inflows would arise before outflows for those periods

C. Only revenue nature cash flows are shown

D. Proceeds from issue of share capital is shown as an inflow

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

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

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

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

A. Cost price

B. Market value

C. Cost price or market price, whichever is less

D. Cost price or market price, whichever is higher

A. (A) is true, but (R) is false

B. (A) is false, but (R) is true

C. Both (A) and (R) are true and (R) is the correct explanation of (A)

D. Both (A) and (R) are true, but (R) is not the correct explanation of (A)

A. Standard costs are based on scientific analysis and engineering studies, while estimated costs are based on a historical basis

B. Standard cost emphasis is on 'what cost will be', while estimated cost emphasis is on 'what cost should be'

C. Standard costs are frequently revised compared to the estimated cost

D. Estimated costs are stable than standard costs