Inter PN-8 Cost Accounting Quiz 8

1. In a job cost system, costs are accumulated               .

2. Job costing is used in:

3. Which of the following items is most likely to be included in Cost Accounts ?

4. What is the journal Entry under Integrated System for recording Sales made?

5. Which account is to be debited if materials worth rs 500 are returned to vendor under Non -Ingrated Accounts

6. Notional Costs -

7. Under the Non- Integrated Accounting System -

8. Under Non- integrated accounting system, the amount made to complete double entry is :

9. Integral accounts eliminate the necessity of operating

10. Which of the following items should be added to costing profit to arrive at financial profit?

11. When costing loss is Rs. 5,600, administrative overhead under- absorbed being Rs. 600, the loss as per financial accounts should be            .

12. Under non-integrated system of accounting, purchase of raw material is debited to:

13. Under non-integrated accounting system:

14. In Reconciliation Statement, Closing Stock undervalued in Financial Accounts is

15. In Reconciliation Statement, incomes shown only in financial accounts are:

16. In Reconciliation Statement, transfers to reserves are:

17. In Reconciliation Statement, expenses shown only in cost accounts are:

18. In Reconciliation Statements, expenses shown only in financial accounts are:

19. A company pays royalty to State Government on the basis of production, it is treated as:

20. Which of the following does not form part of prime cost?

21. Canteen expenses for factory workers are part of:

22. A company has set up a laboratory for testing of products for compliance with standards. Salary of this laboratory stuffs are part of:

23. Audit fees paid to cost auditors is part of

24. Salary paid to an office supervisor is a part of:

25. For the purpose of Cost Sheet preparation , costs are classified based on: