Cost and Managerial Accounting 141. Costing and cost accounting are ______________
Not the same one and the same not related at all none of these. View answer Correct answer: (A)
142. ______________ is one which can be conveniently identified with and charged to a particular unit of cost.
Direct cost Indirect cost Overhead none of these View answer Correct answer: (A)
143. The primary emphasis of ______________ cost is on the planning function of management.
Budgeted standard period none of these View answer Correct answer: (A)
144. An opportunity cost is ______________
the advantage foregone the cost the income none of the above. View answer Correct answer: (A)
145. Depreciation is ______________ expenditure.
fixed variable adjustable Semi-variable View answer Correct answer: (D)
146. Stores Ledger is maintained in the ______________
Store finance department cost accounting department Both a & b View answer Correct answer: (C)
147. Material abstract is also known as ______________
Material issue analysis sheet bill of materials stores ledger none of the above View answer Correct answer: (A)
148. Specific price method of valuing material issue is used when ______________
Materials are purchased for specific job or work order materials are subject to natural wastage prices fluctuate none of these View answer Correct answer: (A)
149. The principle types of inventories are raw materials and , ______________ and finished goods
Processed materials Goods-in-progress stored goods goods for dispatch View answer Correct answer: (B)
150. ______________ is a technique of stock control which leads to saving of time of the management because attention is required to be paid only to some of the items rather than on all the items.
ABC Analysis JIT Inventory System VED Analysis Perpetual Inventory System View answer Correct answer: (A)