Directions: Choose the correct option and complete the sentence.

______ is created to delegate responsibility to individuals and measure their performance.

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_____ is a memorandum statement.

Directions: Choose the correct option for the given question.

Labour expended in altering the construction, composition or confirmation of a product is called

Directions: Choose the correct option for and complete sentece.

Any factor that influences cost is called

Directions: Choose the correct answer for the given question.

Which of the following is a type of cost centre?

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______ is the sum of direct wages, direct expenses and overhead costs of converting raw materials from one stage of production to the next.

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_____ is the smallest segment of activity for which costs are accumulated.

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Cost which is related to the current period as an expense or loss is called

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Direct cost which is applied against revenue of a particular accounting period is called

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Carrying cost is otherwise called

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Cost incurred when a stock storage occurs and includes loss of sale, loss of goodwill etc is called

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Cost which in addition to normal requirement incurred in accordance with the policy of an undertaking is

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_______ costs cannot be directly charged to a particular product.

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Direct cost clearly be _______ with a product.

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The cost which varies proportionately to the change in the level of activity is known as

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Direct material + Direct labour + _______ = Prime cost

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Fixed cost and _______ costs are the same.

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______ represents diminution in the ownership equity other than from withdrawal of capital for which no compensating value has been received.

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Discretionary cost is known as

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Partly fixed and partly variable costs are called ______ costs.

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Prime cost - Direct expense - Direct labour =

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Prime cost is also known as

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Amount of resources given in exchange for some goods or service is called

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_______ is a unit of quantity in terms of which cost is ascertained.

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Cost incurred immediately in order to avoid the hampering of production is called

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The value of a benefit sacrificed in favour of an alternative course of action is known as

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The cost which can be conveniently identified is called ______ cost.

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The smallest segment of an activity for which cost is ascertained is a

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Sugar cane is the _______ for sugar manufacturing company.

Directions: Choose the correct option and complete the sentence.

Sales - Profit =