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MCQs: Pertaining to the differential cost systems, which of the following statements are true?
A) Differential cost plus differential income shows net loss or net income
B) Differential cost is ascertained by comparing total costs of each alternative.
C) Differential cost related to differential investments is calculated every time.
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MCQs: The term marginal cost can be used as a substitute of variable cost while measuring Contribution.
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MCQs: Determine total as well as per unit contribution if Sales is Rs 40,000, Sales in units is 4,000 and variable cost is Rs 30,000.
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MCQs: Determine Contribution if Sales is Rs 1,50,000 and P/V ratio is 40%.
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MCQs: Determine Contribution if Fixed cost is Rs 40,000 and profit is Rs 30,000.
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MCQs: Determine Contribution if Fixed cost is Rs 50,000 and loss is Rs 20,000.
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MCQs: Standard costs are useful in
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MCQs: Which of the following statements are not true?
A) Standard costs are of forward nature while historical costs are actual in nature.
B) Historical costs are useful for control purposes while standard costs are not.
C) Standard cost is an important tool for measurement of operational efficiency while historical costs are not related to operational efficiency.
D) Standard costs are not reasonably attainable ideal costs.
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MCQs: Historical costs have no managerial use because
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MCQs: According to George R. Terry, _________ may be described as a process of finding out what is being done and comparing actual results with the corresponding budget data in order to approve accomplishment.
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MCQs: Budget, Budgeting and Budgetary control are one and same thing.
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MCQs: Which of the following statements are true about budget, budgeting & budgetary control?
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MCQs: Outstanding expenses and reserve for doubtful debts are shown in cash budget.
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MCQs: The receipts from cash sales, advance from customers, collection from debtors and bills receivable are
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MCQs: In _________ actual performance can easily be compared due to availability of budgets at different levels of activity.
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MCQs: Which of the following statements are true flexible budget?
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MCQs: Material cost variances is measured as
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MCQs: Standard quality must relate to actual output.
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MCQs: The formula to calculate material price variance is
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MCQs: Management auditing is a part of statutory auditing.
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