SCDL MANAGEMENT ACCOUNTING PAPERS AND ASSIGNMENT DOWNLOAD
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True/False
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Question
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A business is an
activity carried out with the intention of earning the profit.
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Correct
Answer
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True
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Your
Answer
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True
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True/False
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Question
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Balance sheet
indicates the financial status of the business at given period.
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Correct
Answer
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True
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Your
Answer
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True
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True/False
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Question
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Accounting refers to
the process of analyzing & interpreting the information already recorded
in the books of accounts.
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Correct
Answer
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True
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Your
Answer
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False
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True/False
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Question
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Accounting is an art
of recording, classifying & summarizing in a significant manner.
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Correct
Answer
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True
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Your
Answer
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True
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True/False
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Question
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Financial accounting
may deal with the ascertainment of cost & calculation of profitability of
the individual product.
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Correct
Answer
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False
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Your
Answer
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False
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True/False
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Question
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The reports
generated by financial accounting are meant for the use by management for
effective decisions.
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Correct
Answer
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True
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Your
Answer
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True
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Multiple
Choice Multiple Answer
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Question
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Cost Accounting
______________.
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Correct
Answer
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Concerned with
specific activities. , Classified according to their nature. , It deals with
both i.e. past & present.
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Your
Answer
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Concerned with
specific activities. , Classified according to their nature. , It covers
whole business
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Multiple
Choice Multiple Answer
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Question
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Management
Accounting __________________.
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Correct
Answer
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Designed
particularly for internal use only. , Looks forward in estimating the future
along with past period. , This furnishes the necessary information to
management.
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Your
Answer
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Designed
particularly for internal use only. , Looks forward in estimating the future
along with past period. , This furnishes the necessary information to
management. , Only a, b, c.
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Multiple
Choice Multiple Answer
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Question
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Accounting is the
art of ______________,____________ and ____________ in a significant manner
and in terms of money transactions and events which are of a financial
character and interpreting the res
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Correct
Answer
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Summarizing ,
Classifying , Recording
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Your
Answer
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Summarizing ,
Classifying , Recording
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Multiple
Choice Multiple Answer
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Question
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The process of
accounting has three streams of accounting ---------------,--------and
----------------------.
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Correct
Answer
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Financial Accounting
, Cost Accounting , Management Accounting
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Your
Answer
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Financial Accounting
, Cost Accounting , Management Accounting
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Match The
Following
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True/False
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Question
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Credit note is an
intimation send to person dealing with the business that his account being
debited for the purpose indicated therein.
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Correct
Answer
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False
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Your
Answer
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True
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True/False
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Question
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Amount invested in
purchasing Fixed Asset is a revenue expenditure.
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Correct
Answer
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False
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Your
Answer
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False
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True/False
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Question
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As per double entry
system o accounting , total of all debits should be equal to all credits.
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Correct
Answer
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True
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Your
Answer
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True
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Multiple
Choice Multiple Answer
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Question
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Convention of
Consistency Materiality ________________
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Correct
Answer
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The accounting
policies & procedures should follow consistently on period to period , It
facilitates the comparison of financial statements on period to period , If
any change the fact should be disclosed with its effects on profitability
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Your
Answer
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The accounting
policies & procedures should follow consistently on period to period , It
facilitates the comparison of financial statements on period to period , If
any change the fact should be disclosed with its effects on profitability
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Multiple
Choice Multiple Answer
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Question
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Cash
and---------------are the two systems of accounting.
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Correct
Answer
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Mercantile
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Your
Answer
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Mercantile
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Multiple
Choice Single Answer
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Question
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The opening balance
of cash account is Rs. 25,000, cash received from debtors Rs. 30,000, sold
goods amounted to Rs. 50,000, paid to creditors Rs. 20,000, purchase
furniture Rs. 5000. What is the clos
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Correct
Answer
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80,000
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Your
Answer
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80,000
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Multiple
Choice Single Answer
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Question
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Bank Reconciliation
statement is required in case of
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Correct
Answer
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difference between
the bank balance as per the bank book and as per pass book
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Your
Answer
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difference between
the bank balance as per the bank book and as per pass book
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Match The
Following
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Multiple
Choice Multiple Answer
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Question
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Direct Cost includes
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Correct
Answer
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Direct material ,
Direct labour , Direct expenses
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Your
Answer
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Direct material ,
Direct labour , Direct expenses
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Multiple
Choice Single Answer
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Question
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Labour cost
indicates that labour cost which cannot be identified with the individual
cost centre and is incurred for those employees who are not engaged in the
manufacturing process but only assist i
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Correct
Answer
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Remuneration
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Your
Answer
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Indirect
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Multiple
Choice Multiple Answer
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Question
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The Prime Cost
includes the aggregate of
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Correct
Answer
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Direct Material Cost
, Direct Labour Cost , Direct Expenses
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Your
Answer
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Direct Material Cost
, Direct Labour Cost , Direct Expenses
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Multiple
Choice Multiple Answer
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Question
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From the following
particulars what must appear in purchase requisition
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Correct
Answer
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Material to be
purchased should be cleanly specified , Material should purchase whenever the
market for the same is favorable , Purchase requisition should state the
quantity of material required.
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Your
Answer
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Material to be
purchased should be cleanly specified , Purchase requisition should state the
quantity of material required.
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Multiple
Choice Multiple Answer
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Question
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Following points are
taking into consideration for evaluation of receipts
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Correct
Answer
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The Price , The
trade discount is to be deducted , Other amounts such as sales tax, excise
duty, octroi duty
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Your
Answer
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The Price , The
trade discount is to be deducted , Other amounts such as sales tax, excise
duty, octroi duty
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Multiple
Choice Multiple Answer
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Question
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While fixing the
maximum level following factors are considered
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Correct
Answer
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Maximum usage ,
Storage facilities , Availability of funds
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Your
Answer
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Maximum usage , Rate
of consumption
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True/False
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Question
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Fixed cost tends to
vary with time rather than with level of activity.
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Correct
Answer
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True
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Your
Answer
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True
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True/False
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Question
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To take make or buy
decision under the marginal costing , if purchase price of the product is
less than its variable cost it is advisable to go for manufacturing
proposition.
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Correct
Answer
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False
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Your
Answer
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False
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Multiple
Choice Single Answer
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Question
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Find out the break
even point and profit if sales are Rs. 50,00,000 and P/V Ratio is 50% and
margin of safety is 40%
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Correct
Answer
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Rs.30,00,000 and
Rs.10,00,000
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Your
Answer
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Rs.30,00,000 and
Rs.10,00,000
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True/False
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Question
|
For better control,
variances of a period may be compare with the previous period.
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Correct
Answer
|
True
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Your
Answer
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True
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True/False
|
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Question
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Expected standards
are more realistic and useful for cost control.
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Correct
Answer
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True
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Your
Answer
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True
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True/False
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Question
|
The difference
between standard cost and actual cost is termed as Variance.
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Correct
Answer
|
True
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Your
Answer
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True
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Multiple
Choice Multiple Answer
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Question
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For reporting of
variance, following propositions should be considered
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Correct
Answer
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Responsibility of
each individual should be defined , Reporting should be simple, clear and
quick , Analysis of variance should be accurate.
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Your
Answer
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Responsibility of
each individual should be defined , Reporting should be simple, clear and
quick , Analysis of variance should be accurate.
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Multiple
Choice Multiple Answer
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Question
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Basic three steps in
Standard Costing are
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Correct
Answer
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Setting standards ,
Comparing actuals with standards , Measurement of variance
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Your
Answer
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Setting standards ,
Comparing actuals with standards , Measurement of variance
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Multiple
Choice Single Answer
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Question
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Find out Labour
Efficiency Variance, if Standard Rate is Rs.1.50/- per hour, Standard hours
are 12,000 and Actual hours are 12,600.
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Correct
Answer
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Rs.900/- ( Adverse )
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Your
Answer
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Rs.900/- ( Adverse )
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Multiple
Choice Single Answer
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Question
|
Standard costs are
the targets to be attained by the actual performance.
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Correct
Answer
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Minimum
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Your
Answer
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Minimum
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Multiple
Choice Single Answer
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Question
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Standard Costs are
used as tool for
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Correct
Answer
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Cost Control
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Your
Answer
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Cost Control
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Select The
Blank
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Question
|
Accounting to the
matching principles of accounting, the ________ incurred during an accounting
period are required to be match with ________ during that period
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Correct
Answer
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cost
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Your
Answer
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cost
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Correct
Answer
|
revenues
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Your
Answer
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revenues
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Select The
Blank
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Question
|
Along with financial
accounting, ________ and ________ are the other streams of accounting
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Correct
Answer
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Cost Accounting
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Your
Answer
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Management
Accounting
|
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Correct
Answer
|
Management
Accounting
|
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Your
Answer
|
Cost Accounting
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Select The
Blank
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Question
|
If the revenue
expenditure is treated as ________ expenditure , it will not affect the
agreement of ________ balance
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Correct
Answer
|
capital
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Your
Answer
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capital
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Correct
Answer
|
trial
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Your
Answer
|
trial
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Select The
Blank
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Question
|
While selecting
source of supply ________ epartment may call for the ________ from the
prospective suppliers
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Correct
Answer
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purchase
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Your
Answer
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purchase
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Correct
Answer
|
quotation
|
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Your
Answer
|
quotation
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Select The
Blank
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Question
|
After material is
received from the supplier, quantity actually received is compared with
quantity ________-and ________-if any, are taken up with the supplier
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Correct
Answer
|
ordered
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Your
Answer
|
ordered
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Correct
Answer
|
variation
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Your
Answer
|
variation
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Select The
Blank
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Question
|
Under the daily
________ sheets method, each worker is provided with a daily time sheet on
which time ________ by him on various jobs is expected to be mentioned
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Correct
Answer
|
time
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Your
Answer
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work
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Correct
Answer
|
spent
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Your
Answer
|
spent
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Select The
Blank
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Question
|
4.Under the
differential time rate method the wages are paid at Rs. 1.50 per hour between
________ efficiency and Rs.1.25 per hour between ________ efficiency
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Correct
Answer
|
101% to 125 %
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Your
Answer
|
90-100
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Correct
Answer
|
80% to90%
|
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Your
Answer
|
101% to 125 %
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Select The
Blank
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Question
|
Under Gannt Task
bonus system where the output is ________ payment is made as per minimum time
rate, output is ________ payment is made as per time wages plus some increase
in wage rates
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Correct
Answer
|
below standard
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Your
Answer
|
below standard
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Correct
Answer
|
at standard
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Your
Answer
|
at standard
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Select The
Blank
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Question
|
________ and
________ are examples of element wise classification ofoverhead costs
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Correct
Answer
|
Idirect material
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Your
Answer
|
Idirect material
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|||
Correct
Answer
|
indirect labour
|
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Your
Answer
|
selling overheads
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