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- 1. Multiple Choice
The P/V Ratio is 40% and the Selling Price per unit 40, then the Variable cost per unit is
16
24
54
10
- 2. Multiple Choice
The person who is supervising the labourers involved in production will be
Direct Labour
Direct Expenses
Indirect Labour
None of the above
- 3. Multiple Choice
The reason we create Bad debt Reserve in the books of accounts is due to the
Materiality Concept
Convention of Consistency
Realisation Concept
Convention Conservatism
- 4. Fill in the Blank
If the cost Price is Rs. 36000 and Profit is 10% on Selling Price then the selling price will be ---
- 5. Multiple Choice
Contingent Liability is shown on the liability side of the Balancesheet
True
False
- 6. Multiple Choice
Cost of Production + Opening stock of Finished goods - Closing stock of finished goods is equal to
Cost of Goods Sold
Cost of Sales
Total Cost
Factory cost
- 7. Multiple Choice
ABC Ltd has quoted that its total cost for producing 30000 units is Rs. 4,50,000 and the total cost for producing 20,000 units is Rs. 3,50,000 . The fixed cost for ABC Ltd is
1,00,000
1,50,000
10,000
10
- 8. Multiple Choice
While sending the goods for distribution, packing the goods in Carton box will be considered
Direct Material
Primary Packing
Secondary Packing
Direct Expenses
- 9. Multiple Choice
The accounting which gives segregated information about the various products of Dabur is
Financial Accounting
Money Accounting
Cost Accounting
Management Accounting
- 10. Multiple Choice
Bad debts in cost accounting will come under
Factory overhead
Office and Administrative Overhead
Selling and Distribution Overhead
Prime Cost
- 11. Multiple Choice
When the accountant shows false information in financial statement to lure the investors it is known as
Mercantile Accounting
Window Dressing
Money Measurement Concept
None of the above
- 12. Multiple Choice
If Direct Material Consumed is Rs20000, Chargeable Expenses is Rs3000, Direct Labour is Rs 2000 and Indirect Labour is Rs 6000, Then Prime cost will be ...
23000
25000
31000
26000
- 13. Multiple Choice
Which one of the following is not a limitation of Financial Accounting
It ignores qualitative aspects
Window Dressing
It ignores quantitative aspects
It ignores Price level changes
- 14. Multiple Choice
According to the Dual Aspect Concept
Capital + Assets = Liability
True
False
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