MCQs 1: Cash discount is allowed on _______ repayment of debt.

MCQs 2: Introduction capital by owner of business is recorded on which side of a cash book?

MCQs 3: A cash book with cash, bank and discount column is commonly referred as________?

MCQs 4: The most common imprest system is the ________ system?

MCQs 5: Which English alphabet is similar to the shape of an account?

MCQs 6: When production is equal to sales, which of the following is TRUE?

MCQs 7: An average cost is also known as________?

MCQs 8: Costs that change in response to alternative courses of action are called___________?

MCQs 9: The total cost incurred in the operation of a business undertaking other than the cost of manufacturing and production is known as________?

MCQs 10: Consider the following data for a company during the month of June 2012 Budgeted hours 4,000 Standard hours for actual production 4,400 Maximum possible hours in the budget period 4,800 Actual hours 3,800 The activity ratio of the company during the month is

MCQs 11: Which of the following bases is not appropriate for apportionment of Transport department‘s cost ?

MCQs 12: The cost of obsolete inventory acquired several years ago, to be considered in a keep vs. disposal decision is an example of :

MCQs 13: Budgeted sales for the next year is 5,00,000 units. Desired ending finished goods inventory is 1,50,000 units and equivalent units in ending W-I-P inventory is 60,000 units. The opening finished goods inventory for the next year is 80,000 units, with 50,000 equivalent units in beginning W-I-P inventory How many equivalent units should be produced?

MCQs 14: If the asset turnover and profit margin of a company are 1.85 and 0.35 respectively, the return on investment is.

MCQs 15: A company is currently operating at 80% capacity level. The production under normal capacity level is 1,50,000 units. The variable cost per unit is ` 14 and the total fixed costs are ` 8,00,000. If the company wants to earn a profit of ` 4,00,000, then the price of the product per unit should be

MCQs 16: Consider the following data pertaining to the production of a company for a particular month :
Opening stock of raw material 11,570
Closing stock of raw material 10,380
Purchase of raw material during the month 1,28,450
Total manufacturing cost charged to product 3,39,165
Factory overheads are applied at the rate of 45% of direct labour cost.
The amount of factory overheads applied to production is

MCQs 17: If the minimum stock level and average stock level of raw material are 4,000 and 9,000 units respectively, find out its reorder quantity.

MCQs 18: A worker has a time rate of 15/hr. He makes 720 units of component (standard time : 5 minutes/ unit) in a week of 48 hours. His total wages including Rowan bonus for the week is

MCQs 19: One of the most important tools in cost planning is__________?

MCQs 20: A Ltd. Has sales of 2,200, total fixed cost of 570, variable cost of 1,540, raw material consumed of ` 1,100, number of units sold 22,000. What shall be the BEP 9 in units) if raw material price is reduced by 2%?

MCQs 21: Find the cost of goods sold if goods are sold for 2,000 at 25% profit on cost?