41. Standard costing refers to
42. The accountant's concept of marginal cost differs from the Economist's concept of marginal cost in the matter of exclusion of
43. The standard cost of a product is
44. Match the following.
List-I
List-II
a. Performance budgeting
1. Fixed budget
b. Zero base budgeting
2. Production oriented
c. Summary of all functional budgets
3. Jimmy Carter
d. Remain unchanged irrespective of level of activity actually attained
4. Master budget
| List-I | List-II |
| a. Performance budgeting | 1. Fixed budget |
| b. Zero base budgeting | 2. Production oriented |
| c. Summary of all functional budgets | 3. Jimmy Carter |
| d. Remain unchanged irrespective of level of activity actually attained | 4. Master budget |
45. What is the effect of increase in fixed cost?
46. Which budget is prepared first of all?
47. Which of the following statements are true?
1. Marginal costing is not an independent system of costing.
2. In marginal costing, all fundamentals of cost are divided into fixed and variable components.
3. In marginal costing, fixed costs are treated as product cost.
4. Marginal costing is not a technique of cost analysis.
1. Marginal costing is not an independent system of costing.
2. In marginal costing, all fundamentals of cost are divided into fixed and variable components.
3. In marginal costing, fixed costs are treated as product cost.
4. Marginal costing is not a technique of cost analysis.
48. Marginal costing may be preferred to absorption costing because it
49. Break-even point is
50. Cash budget is based on
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