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MCQs: All costs are classified under ______ segments under absorption costing.
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MCQs: In make or buy decision, marginal costs as well as additional fixed costs are the factors to be considered.
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MCQs: If the marginal cost is _________ buying price, additional requirement of the component should be met by making rather than buying.
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MCQs: __________ refers to changes in total costs that occur due to changes in volume of production or sales, product system, product mix or from the adoption of an alternative course of action.
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MCQs: The Break-even Point of a company is that level of sales income which will equal the sum of its fixed cost.
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MCQs: Which of the following are characteristics of B.E.P?
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MCQs: Which of the following are assumptions for break-even analysis?
A) Elements of cost cannot be divided in different groups.
B) Fixed cost remains certain from zero production to full capacity.
C) Behavior of different costs is linear.
D) Selling per price unit remains constant.
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MCQs: While measuring break-even analysis, it is considered that during a specific period there will be no change in general price level, i.e., labor, cost of material and other overheads.
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MCQs: Which of the following are limitations of break-even analysis?
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MCQs: ___________ can be defined as a system which intends to control the cost of each unit through prior determination of what should be the cost and then its comparison with actual cost.
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MCQs: Standard costing is the preparation of standard costs and their comparison with _______ and the analysis of ________.
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MCQs: For the application of standard costing, it is necessary to meet which of following conditions?
A) A sufficient volume of standard components or products should be manufactured
B) Methods and procedures cannot be controlled
C) A sufficient number of costs should be able to be controlled
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MCQs: Which of the following statements are true?
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MCQs: The process of budgeting includes
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MCQs: Which of the following statements are true for forcast and budget?
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MCQs: As per S.C Kuchhal, Cash budget is a schedule to record ________ over a period with a view to locating the timing and magnitude of cash surplus and shortage.
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MCQs: Cash budget helps in the formulation of suitable dividend policy.
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MCQs: ___________ is based on assumption that the firm will carry out its activity only at a specific level and the targets of production determined in budget will be achieved.
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MCQs: Fixed budget is of much help in the fixation of selling price or calculation of tender price.
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MCQs: The sum of actual cost and the standard cost is known as variance analysis.
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