Foundation PN-2 Accounts and Cost Quiz 6

1. Directors remuneration and expenses form a part of :

2. The works cost plus administration expenses :

3. Statement showing break-up of costs is known as :

4. Which of the following is a part of both Prime cost and conversion cost :

5. Indirect material cost is a part of :

6. Direct expenses are also known as :

7. The guidance and regulation by executive action of the cost of operating an undertaking is said to be :

8. Prime cost may be correctly termed as :

9. Which cost system description applies to the manufacture of 20 engraved doors for the new club house at a golf course?

10. Advertisements are treated as :

11. The following is included in financial accounts, but not in cost accounts :

12. Which of the following items is excluded from cost Accounts?

13. Prime cost plus factory overheads is known as :

14. In behavioral analysis’, costs are divided into :

15. Variable costs are fixed :

16. Over which of the following costs, management is likely to have least control :

17. Which method of costing is used for determination of costs for printing industry?

18. Costs are classified into fixed costs, variable costs and semi- variable costs, it is known as:

19. Opportunity cost is the best example of:

20. The main purpose of cost accounting is to:

21. Process cost is very much applicable in:

22. Which of the following is not a relevant cost?

23. The total cost incurred in the operation of a business undertaking other than the cost of manufacturing and production is known as:

24. Which of the following item(s) is (are) shown in the Income and Expenditure Account

25.

Account will be