chapter no 1

A B
______is nothing but the right process of selecting
appropriate,logical,pracital,achievable option from the
1 availabe alternative business decision planning
______is person who carry on business exclusively by
2 and for himself partner sole trader
the relationship between person who agree to carry on
3 business in a common with a view to private gain partnership firm sole trading firm
a_____is a firm of a business organization in which the
funds of the large no of invester are managed by a few
4 person for a purpose of earning profit partnership firm sole trading firm
profit earning
5 ______is the language of business marketing capacity

to calculate net profit or to know the financial

6 the object/s of accounting net loss of the business condition of the firm
out of the following which is not the branch of management
7 accounting financial accounting accounting
accounting______are the rules of action or the methods
and procedures of accounting commanly adopted while
8 recording business transactions principles concepts
according to _______concept assests purchase are
generally recorded in the accounting book at the cost at going concern
9 which they are purchase business entity concept concept
accourding to ______concept revenue is recognized going concern
10 only when the sale is performed business entity concept concept
accounting _______are the traditional usage and custom
11 which are in use since long principles concepts
out of the following which is not the convention of convention of convention of
12 accounting consistency disclosure
out of the following which is not the system of
13 accounting non-cash entry system cash system
out of the following which transactions are not to be
14 recorded in the books of accounts cash transaction credit transaction
15 account in the names of a persons are known as personal a/c real a/c
16 account in the name of assets are known as personal a/c real a/c
account in the respect of expenses and incomes are
17 known as personal a/c real a/c
every transaction must have ______aspects and involve
18 ______accounts two, two one, one
 a _______is an accounting entry that either increases an
assets or expenses or account, or decreases a liability or
19 equity a/c debit credit
a _______is an accounting entry that either increases a
liability or a equity a/c, or decreases an assets or
20 expenses a/c debit credit
21 debit the receiver, credit the giver is the rule of personal a/c real a/c

22 debit what comes in, credit was goes out is the rule of personal a/c real a/c
debit all expenses and losses, credit all incomes and
23 gains is the rule of personal a/c real a/c
________is a record of transaction in the book of
24 accounts entry recording

25 _________is an exchange of money or money's worth entry recording

26 _______is a book of orginal entry journal ledger
27 _______is a bound book of different accounts journal ledger
_______is a summarized record of transactions related
to one person one assets one head of expense/loss and
28 one head of income/gain journal ledger
_______means a totaling of sums in the books of
29 accounts casting summarizing

_______ are obligation or debts that the enterprise must

30 pay in money or services at sum time in the future assets liabilities
______are economic resources of an enterprises that can
31 usefully expressed in monetary terms assets liabilities
_______are commoditie, purchased or manufactured for
32 resale with a view to earn profit assets goods

________are the amounts the business earn by selling its

33 product or providing the services to customer asstes goods
_______are the costs incurred by a business in the
34 process of earning revenue assets expenses
______are persons and /or other enteries who owe to an
enterprises an amount for receving goods and services
35 on credit debtors creditors
_______are person and/or other enteries that have to be
paid by an enterprises an amount for providing the
36 enterprieses gooods and services on credit debtors creditors

_______is a list of the entire journal ledger accounts

37 name and balances ; it is prepared to prove the ledger journal ledger

38 the differences of two sides of an account is called as debit credit

 _______deals with expenses related to or identified with management
39 products which may only be a part of the organization financial accounting accounting
in_______stocks are valued at lower of cost or market management
40 value financial accounting accounting

the primary objective of _______is to provide necessary

information to the management in the process of its
planning, controlling, and performances evalution, and management
41 decision making financial accounting accounting
the success of ______does not depend upon management
42 management accounting system financial accounting accounting
management
43 in________no statuary requirement of audit for reports financial accounting accounting
44 which is most popular and acceptable software? tally Marg

accounting software no scope for mistakes

45 the advantages of accounting software save time and money and errors
management
46 internal and external parties are the users of _______ financial accounting accounting
47 capital account generally shows ______balance cash debit
48 assest a/c shows ______ balance cash debit
49 there are______ columns in journal two three
explanatory note written below an entry recorded in the
50 journal is called as_______ narration explanation

CHAPTER 2

SR
.N
O QUESTION A B
______shows the firm's assets ,liabilities, and
1 stockholder' equity as of the report date cash flow funds flow
______shows the result of the firms operation and trading and profit and
2 financial activity for the reporting period loss a/c expenses statement

_____include explanation of various activities additional

details of some accounts and other items mandated by trading and profit and
3 the regulatory authority bodies from time to time loss a/c expenses statement
_______is a formal official record of the financial
4 activity position of business,person,or other entry financial statement trading a/c
 _______provide the vital information related to the
5 profitability liquidity and solvency of the business financial statement trading a/c
______is the simplest business form under which one
6 can operate a business partnership firm sole trading firm
sole proprietorship
7 ______is not a separate legal entity partnership firm firm
for every items given in trial balance ______effect
8 should be given dual single
for every items given in adjustement _____ effects
9 should be given dual single
_______are nothing but the enteries which are not
10 included in the original trial balance journal proper ledger

11 every adjustment has two effects, i.e one debit and one credit debit
12 depreciation is debited to BRS balancesheet
profit and loss a/c profit and loss a/c
13 income accured but not received is recorded to ______ DR.SIDE CR. Side
balance sheet assets profit and loss a/c
14 a prepaid expenses shown at side CR. Side
profit and loss a/c profit and loss a/c
15 closing stock recorded to DR.SIDE CR. Side
balance sheets liability profit and loss a/c
16 outstanding expenses shown at side CR. Side
17 goods withdrawn from business is considered as sales purchase
18 interest on capital is debited to capital a/c balancesheet
19 interest on drawing is credited to journal a/c balancesheet
20 good disturbited as free sample is debited to capital a/c personal a/c
21 reserve for discount on creditor is credited to capital a/c personal a/c

22 _______information is ignored in financial statement cash credit

accounting concept and
23 the financial statement are based on accounting convention accounting concept
24 accounting years start from 1st jan 1st april
25 accounting years ends on 31st jan 31st aug
26 return outward are deducted from sales purchase
27 return inward are deducted from sales purchase
28 carriage inward is debited to capital a/c personal a/c
29 carriage outward is debited to capital a/c personal a/c
balancesheet assets
30 goodwill is recorded to capital a/c side

31 depreciation is ______in /from assets added deducted

in_______business ,all income and losses are taxes on
32 the individual personal income tax return sole proprietorship partnership
 profit and loss a/c profit and loss a/c
33 freight is recorded to DR.SIDE CR. Side
added in respective added in respective
34 outstanding expenses are always ___________ assets liability
deducted from added in respective
35 prepaid expenses are always ________ respective assets liability
36 gross profit is transferred to ________ capital a/c balance sheet
good withdrawn for personal use by proprietor is treated
37 as ______ income expenses
profit and loss a/c profit and loss a/c
38 royalty is recorded to DR.SIDE CR. Side
39 purchase return is also called as inward outward
40 sales return is also called as inward outward
41 R.D.D is deducted from sales purchase
42 ________is non cash expenses depreciation discount
43 income received in advance is considered as income expenses
profit and loss a/c profit and loss a/c
44 an insurance charge of goods is recorded to DR.SIDE CR. Side
profit and loss a/c profit and loss a/c
45 wages and salaries items is recorded to DR.SIDE CR. Side
profit and loss a/c profit and loss a/c
46 patents items is recorded at DR.SIDE CR. Side
47 _______is not a current assets stock investment
48 ________is not a fixed assets land building
49 _______is not a current liability capital loan
50 net profit is added in trading a/c income a/c

CHAPTER NO3

SR.
NO QUESTION A B
______provide a speacilised tecnique which provide
prompt and accurate information regarding the cost of
1 producing and selling and article cost accounting financial accounting
the amount of expenditure incurred on, attributable to a
2 given thing is called as ____ cost price
the technique and process of ascertaining cost is called
3 as costing accounting
4 with the help of ______we can control the cost costing method cost accounting
5 with the help of ____we can find out the cost costing method cost accounting
the total of direct material + direct labour+ direct
6 expenses is called as total cost factory cost
7 direct expenses are also called as chargeable expenses factory expenses
 8 depreciation is an example of direct expenses factory expenses
9 the aggregate of all indirect expenses is total cost total expenses
10 factory cost is also called total cost cost of production
11 cost of sales is also called as total cost cost of production
12 telephone bill, electricity bill is an example of total cost fixed overhead
13 fixed cost is also called as total cost direct cost
14 material and labour is an example of _____ fixed cost controllable cost
15 repair and maintenance is an example of ________ fixed cost avoidable cost
cost incurred because of lock outs is an example of
16 _____ fixed cost unavoiadable cost
17 one-time set up cost of a plant or project is called as fixed cost direct cost
18 standard cost is also called as pre determine cost direct cost
19 variable cost is also called as pre determine cost direct cost
20 rent is an example of pre determine cost direct cost

21 ______is the difference between cost of two alternative differential cost semivariable cost
cost incurred as per the policy of top management is
22 called as differential cost programmed cost
23 notional cost is nothing but _________ standard cost programmed cost
depreciation on plant and rent is an example
24 __________ commited cost programmed cost
a location, person or item of equipment (or a group these
)for which cost may be a ascertained and used for the
25 purpose of control is called as cost unit cost center
_______a statement which show various componentsof
26 total cost of a product cost sheet cost account

27 _______is prepared on the basis of actual cost incurred historical cost sheet cost account
28 haulage charges is an example of _____ fixed overhead direct cost
29 counting house salaries is an example of fixed overhead selling overhead
30 carriage outward is an example of fixed overhead selling overhead
31 opening stock of finished gooods is added in factory cost prime cost
32 direct labour charge is also called as factory cost prime cost
33 cost unit is divided into unit of production unit of service
cost of converting raw material into finshed goods is
34 also called as factory cost prime cost
accourding to elements, cost is divided into
35 _____catogeries one two
______means the amount spend to sell a company’s
36 products revenue cost differential cost
37 insurance is an example of _____ revenue cost differential cost
38 ________cost directly varies with volume of output revenue cost differential cost
the expenditure which has been incurred in a accounting
period but it is applicable further periods also is
39 _______ revenue cost differential cost
 the estimate of expenditure for different business
40 operation for a specific period is ________ budgeted cost differential cost
an up-gradation of machine , change in service /
41 distribution channel are the example of ______ incremental cost differential cost
the value of benefit sacrificed in favour of an alternative
42 cource of action is ___________ cost incremental fixed
opening stock of W.I.P and closing stock of W.I.P is
added and deducted after addition of ________in prime
43 cost direct expenses factory overhead
cost of direct
44 carriage inward is added while calculating _____ cost of direct expenses overhead
45 profit margine is added in __________ cost of sales fixed cost

46 abnormal wastage of material is added in ___________ cost of sales cost of production

47 discount allowed is an example of _________ direct expenses factory overhead
sale of scrap is __________after addition of factory
48 overhead in prime cost added deducted

49 cleaning charges is an example of _____________- direct expenses factory overhead

_____is the process of ascertaining cost

whereas_______is the process of recording various costs
in a systematic manner, in order to prepare statistical costing , cost cost
50 date to ascertain cost accounting accounting ,costing

chapter 3
cost of storing the goods as well as the interest on the
1 capital is called as inventory carrying cost order placing cost
cost of placing the order and receving the goods are
2 called as inventory carrying cost variable cost

3 the main objective of EOQ is to_______the total cost minimize control

__________anaylsis is the based on selective inventory
4 management EOQ JIT

calculate eoq if cost of material is per unit RS 40 ,

annual requirement 1600 units, cost of placing an
receving one purchase one order rs50 annual carring
5 cost of inventory is 10% of the inventory value 200 unit 175 unit
a level of inventory that should be never be exceeded is
6 ______ maximum stock level minimum stock level
a level below which stock should not be allowed to fall
7 is maximum stock level minimum stock level
a level at which store keeper should intimate purchase
8 department for fresh /new supplies maximum stock level minimum stock level
 a level below which the stock should never be allowed
9 to fall under emergency circumstance is __________ maximum stock level minimum stock level

a stratergy for inventory management in which raw

material and components are delivered from the vendor
or suppliers immediately before they are needed in the
10 manufacture process is scientific purchasing immediate buying
out of the following which is the method of issuing
11 material lifo fifo
12 full of the LIFO latest in first out last in first out

re-order level -
(normal
maximum consumption consumption x
x maximum re-order normal reorder
13 the formula of re-order stock level period period )

re-order level -
(normal
maximum consumption consumption x
x maximum re-order normal reorder
14 the formula of minimum stock level period period )

re-order level -
(normal
maximum consumption consumption x
x maximum re-order normal reorder
15 the formula of maximum stock level is period period )

re-order level -
(normal
maximum consumption consumption x
x maximum re-order normal reorder
16 the formula of danger stock level period period )
avoidable and
17 material loss are genearlly classified into two cateogery normal and abnormal unavoidable
18 ______is the example of material losses wastages scrap

19 the material stock inclued fixed cost control debtors control

to protect material to avoid over and

from losses and understocking of
20 the main objective of store keeping is /are _________ damages material
wages which can be identify with and allocated to cost
21 center and cost unit is ________ direct labour cost indirect labour cost
_______is defined as the rate of change of labour force
22 in an organization during a specified period labour turnover labour rate
labour turnover causes are classified into
23 _____________ personal cause avoidable causes
 _____included all those cost which are incurred to keep
the workers satisfied so that they prevented from leaving
24 the orgnaization direct labour cost preventive cost

25 labour turnover rate is calculated as per __________ seperation method replacement method
_____is recording of incoming and outgoing time of all
26 employees in factory time keeping time booking
_______is recorded of the time of employees spend on
27 various jobs time keeping time booking
_____study is concerned with determining the proper
method for performing the jobs so that there is no
28 wastages in movement time motion
_______study is concerened with determination of
standard time required by a person of average ability to
29 perfrom a job. time motion
out of the following which factor affecting the labour assesment of man time and motion
30 cost power requirement study
which department /is / are closely associated with the personnel and payroll time keeping
31 control of labour cost department department
__________arise from replacement of work who live the
32 organization direct labour cost preventive cost
attendance register
33 method of time keeping is / are method token or disk method

34 method of time booking is/ are daily time sheet weekely time sheet
_________refer to the estimanation of standard time,
time allowed for completing one piece of job using the
35 given methods work measurement time measurement
_______cost are the operating cost for a buisness
enterprise which cannot be traced to a particular unit of
36 output material labour

____________is the process of recording each items of

cost in the books of account maintained for the purpose allocation of
37 ascertainment of cost of each cost center or cost unit collection of overhead overhead
____means the allotment of whole items of cost to cost allocation of
38 center or cost unit collection of overhead overhead

___________means the allotment to two or more more

department or cost center of proportion of common allocation of
39 items of cost on estimated bases of benefit received collection of overhead overhead
the process of apportionment is also known as
40 _________of overhead departmentalization centralization
 secoundary
method for allocation and apportionment of overhead is primary distribution of distribution of
41 _______ overhead overhead
the overhead which can be easily identify with a
particular department that is charge only to the specific
42 department is called collection allocation

43 insurance of plant is distributed on the bases of _____ value of plant ratio of plant
days spend by
44 recreation expenses is distributed on the bases no of worker worker
electrical power is distributed on the bases of
45 ___________ horse power KWH
no of store
46 material handling charges is distributed on the bases of value of material requistion
allocation of overhead is____process of allotment of
47 overhead direct indirect
approtionment of overhead is _________process of
48 allotment of overhead direct indirect
allocation of
49 _____________deal with the whole items of costs collection of overhead overhead
allocation of
50 __________deal with only proportion of items of costs collection of overhead overhead

CHAPTER NO 5
1 marginal costing is also called as variable costing standard costing
in____________total costs cannot be easily segregated
2 into fixed cost and variable cost marginal costing standard costing
contribution to sales contribution to
3 p/v ratio is mainly known as ratio marginal ratio

________anaylsis classifies all cost as either fixed or

4 variable cvp abc
_____________that point where no profit or no loss
5 position is observed center point BEP

_______is difference between sales revenue and

6 variable costs p/v ratio BEP
7 contribution is also called as p/v ratio net margin

__________is the difference between actual sales and

8 output and the break even sales p/v ratio net margin

_______is an angle where sales line intersect total cost

9 line which indicate profit earning capacity over the BEP angle of incidence contribution
 if contribution is rs 300000 ansd sales is 1000000 then
10 what is the p.v ratio 20% 30%

11 if p/v ratio is 25% then what is the % of variable cost 70% 80%

if fixed cost is 250000 and p/v ratio is 60% then what is

12 BEP in rs 416667 383333

if fixed is 250000 and profit is 350000 then what is amt

13 of contribution 100000 600000

if sales are 50000 and p/v ratio is 20% then what will be
14 the amt of variable cost 40000 10000

if contribution is 300000 and p/v ratio is 20% then what

15 is the amt of variable cost 400000 200000

if sales are 300000 and p/v ratio 20% then what is the
16 variable cost 240000 250000
contribution =sales - contribution=fixed
17 the correct formulas of contribution is variable cost cost +profit-loss

p/v ratio = change in

p/v ratio= profit/ change in
18 the correct formula of p/v ratio is contribution/sales x100 salesx 100
19 marginal costing is a costing technique method
under absorption and overabsorption of overhead
20 problem are not arise under marginal costing standard costing
21 standard cost is ____cost pre-determined cost pre-decided cost
samll organization cannot adopt
22 ____________technique standard costing marginal costing
_________means difference between standard cost and
23 actual cost balance cost variance
_________help management to understand the present
24 cost and then the control the future cost ABC ANAYLSIS variance anaylsis
25 variance are classified in _______catogery one two
if standard cost rs 80 and actual cost is 70 the what is the
26 amt of marginal cost variance 10 -10
if standard price is 8 standard qty 10 actual price 7
actual qty 10 the what is the amt of material price
27 variance 10 -10
if standard price is 8 standard qty 10 actual price 7
actual qty 10 the what is the amt of material usage
28 variance 10 -10
if standard rate is 1.50 and std hour is 1600 actual rate 2
and actual hour is 1500 then what is the amt of labour
29 cost variance 600 -600
if standard rate is 1.50 and std hour is 1600 actual rate 2
and actual hour is 1500 then what is the amt of labour
30 rate variance 750 -750
if standard rate is 1.50 and std hour is 1600 actual rate 2
and actual hour is 1500 then what is the amt of labour
31 effeciency variance 150 -150

32 the correct formula of verification of cost variance is MCV=MPV+MUV MCV=MPV-MUV

the correct formula of verification of labour cost
33 variance is LCV=LRV+LEV LCV=LRV-LEV
in standard costing comparisoin between __________is standard cost and fixed cost and
34 carried out actual cost variable cost

establishment of
standard are difficult in std hour required to
35 the disadvantage of standard costing is practice revise continously
__________is a concret precise picture of total
36 operation of an enterprise in monetary term budget plan
accuracy cannot be maintain in limitation of
37 __________ bugdetary control scientific control

pre-requisition for effective implementation of deciding budget center prepartion of budget

38 budgetary control system is ____________ and budget period manual
____________is the budget in which adjustment is
39 possible according to change in business condition flexible budget fixed budget

when forecast about budget show greater revenue to be

received or generated then the expenses to be incurred
40 during the budgeted period that is known as __________ surplus budget best budget

____________budget highlight that the expenditure to

be incurred in budget period will be greater than the
41 revenue to be received during the same period of time surplus budget deficit budget
 the establishment of budget relating the responsibility of
exceutive to the requirement of a policy and continous
comparission of actual with budgeted result either to
secure by individual action the objective of that policy
42 or to provide basis for its revision is called ________ budget budgeting
___________is the power tools available to the manager decrease in selling
43 for the purpose of maximizing profit budget price
44 fixed budget is also known as static budget std budget
45 normal profit means no profit no loss less profit
46 personal budget is also called as ___________ cost budget labour budget

47 in cash budget __________transaction is considered cash credit

48 budget is prepared for ___________period of time fixed one month
49 purchase budget is also called as ____________ production budget material budget

_____________is the plan of proposal in proposed capital expenditure

50 investment in fixed assets fixed budget budget
C D Answers

organizing strategy A

executive manager B

joint stock company co-operative socy A

joint stock company co-operative socy C

accounting selling C
to provide information to the
management for important
managerial decision all of the above D

human resources accounting cost accounting C

conventions systems A

money measurement concept cost concept D

money measurement concept realization concept D

conventions systems A

convention of conservatism convention of realization D

single entry system double entry system A

financial transaction ordinary transaction D

nominal a/c individual a/c A
nominal a/c individual a/c B

nominal a/c individual a/c C

one, two two, one A

sales purchase A

sales purchase B
nominal a/c individual a/c A

nominal a/c individual a/c B

nominal a/c individual a/c C

monetary transaction ledger A

transaction ledger C
cash book subsidiary book A
cash book subsidiary book B

cash book account D

journalizing ledger posting A

responsibilities salaries B

cash and bank balance funds A

investments resources B

investments revenues D

investments revenues B

shareholders suppliers A

shareholders customers B

cash book trial balance D

balance cash C
human resources accounting cost accounting D

human resources accounting cost accounting A

human resources accounting cost accounting B

human resources accounting cost accounting D

human resources accounting cost accounting B

saral SAP A

provide accurate an updated

information as an when required all of the above D

human resources accounting cost accounting A

credit overdraft C
credit overdraft B
four five D

brief information detail information A

C D Answer

income statement balance sheets D

income statement balance sheets A

income statement supplimentary note D

profit and loss a/c supplimentary note A

profit and loss a/c cash flow and fund flow A

private ltd co. public co. B

private ltd co. one man co. B

triple none of the above B

triple none of the above A

adjustment none of the above C

credit none of the above A

trading a/c profit and loss a/c D

trading a/c dr. side trading a/c cr.side B

trading a/c dr. side trading a/c cr.side A

trading a/c dr. side trading a/c cr.side D

balance sheets assests side trading a/c cr.side A

capital drawing D
trading profit and loss a/c D
trading a/c profit and loss a/c D
trading a/c profit and loss a/c D
trading a/c profit and loss a/c D

qualitative quantitative C

accounting convention none of the above A

1 st march 1st june B
31 st march 31 st dec C
stock closing stock D
stock closing stock A
trading a/c profit and loss a/c C
trading a/c profit and loss a/c D

trading a/c profit and loss a/c B

not added not deducted B

co-operative departmental A
trading a/c dr. side trading a/c cr.side C
added in respective
added in respective expenses income C
deducted form respective added in respective
expenses income C
trading a/c profit and loss a/c D

liability assets B

trading a/c dr. side trading a/c cr.side C

return inward return outward D
return inward return outward C
creditor debtors D
purchase creditors A
assets liability D

trading a/c dr. side trading a/c cr.side A

trading a/c dr. side trading a/c cr.side C

balance sheets liability side balance sheets assets side D

cash goodwill D
machinery debtors D
bill payble creditors A
capital a/c assets a/c C

C D Answer

cost and financial

management accounting accounting A

expenses fixed cost A

financing management accounting A

management accounting costing techinque D
management accounting costing techinque A

prime cost main cost C

work expenses general expenses A
general expenses indirect expenses D
overhead factory overhead C
work cost factory overhead C
work cost factory cost A
variable overhead semivariable overhead D
work cost period cost D
non controllable cost period cost B
non controllable cost normal cost D

abnormal cost normal cost C

capital cost normal cost C
capital cost fixed cost A
marginal cost fixed cost C
unavoiadable cost standard cost C

variable cost standard cost A

normal cost fixed cost B

normal cost imaginary cost D

general cost imaginary cost A

cost department cost division B

cost report cost classification A

cost report estimated cost sheet A

factory overhead administrative overhead C
factory overhead administrative overhead D
factory overhead administrative overhead B
cost of production work cost C
fixed wages product wages D
both a and b none of the above C

conversion cost productive cost C

three four C

fixed cost variable cost A

fixed cost variable cost C
fixed cost variable cost D

differed revenuve cost variable cost C

differed revenuve cost variable cost A

opportunity cost future cost A

opportunity future C

office overhead selling overhead B

cost of direct labour cost of direct material D

cost of production cost of goods sold A

cost of goods sold none of the above D

office overhead selling overhead D

not considered none of the above B

office overhead selling overhead B

costing and absorption of

costing and allocation cost cost A

buying cost fixed cost A

buying cost fixed cost B

maintain avoid A

ABC HML C

225 unit 250 unit A

re-order stock level danger stock level A

re-order stock level danger stock level B

re-order stock level danger stock level C

re-order stock level danger stock level D

JIT none of the above C

simple average all of the above D

largest in first out lowest in first out B

re-order level + re-order qty - average usage x

(minimum consumtion x maximum re-order period
minimum re-order period ) for emergency purchase A

re-order level + re-order qty - average usage x

(minimum consumtion x maximum re-order period
minimum re-order period ) for emergency purchase B

re-order level + re-order qty - average usage x

(minimum consumtion x maximum re-order period
minimum re-order period ) for emergency purchase C

re-order level + re-order qty - average usage x

(minimum consumtion x
minimum re-order period )
controlable and non
controlable
spoilage or defective
maximum re-order period
for emergency purchase D
fixed and variable A
all of the above D

inventory control creditors control C

to m inimize the storages cost

of material all of the above D

fixed labour cost variable labour cost A

labour cost employee change rate A

unavoidable causes all of the above D

maintance cost variable labour cost B

flux method all of the above D

time noting all of the above A

time noting all of the above B

general special B

general special A
control over idle time and over
time all of the above D
engineering and work study
department all of the above D

maintenance cost replacement cost D

time recording of clock and dial
time record all of the above D

jobs card or job ticket all of the above D

period measurement none of the above A

overhead fixed and variable A

apportionment of overhead classification of overhead A

apportionment of overhead classification of overhead B

apportionment of overhead classification of overhead C

decentralization classification A
simunltaneous equation
method of equation all of the above D

apportionment classification B

quality of production none of the above A

time spend by worker none of the above A

numberof machine hours all of the above D

weight or value of material all of the above D

fixed variable A

fixed variable B

apportionment of overhead classification of overhead B

apportionment of overhead classification of overhead C

material costing job costing A

material costing job costing A

variable profit ratio all of the above A

jit hml A

starting point ending point B

mos contribution D
mos gross margin D

mos gross margin C

margin of safety gross margin A

 33.33% 1\3 B

3\4 1\2 C

375000 410000 A

375000 400000 B

25000 30000 A

250000 240000 D

270000 200000 A

contribution=salesxp/v ratio all of the above D

p/v ratio =sales -variable

cost/salesx 100 all of the above D
system convention A

job costing budgeting control A

pre-planed none of the above A

budgeting control none of the above A

marginal cost variable cost B

marginal anaylsis budget anaylsis B

three four D

150 20 A

150 20 A

50 0 D

500 400 B

600 400 B

300 200 A

MCV=MPV X MUV none of the above A

LCV=LRV X LEV none of the above A

normal cost and abnormal cost none of the above A

in accurate unreliable and out

dated std do more harm then
benefit all of the above D

strategy goal A

standard costing marginal costing A

determination of key factor all of the above D

sales budget cash budget A

favourable budget non favourable budget A

favourable budget non favourable budget B

budgetary control none of the above C

std norms increase in selling price A

master budget flexible budget A
expected profit none of the above A
employee budget none of the above B

all financial none of the above C

one year none of the above A
cost budget none of the above B

cash budget purchase budget B