Cost Accounting Test 4
Description: Useful for commerce students, SET,UGC exams. | |
Number of Questions: 30 | |
Created by: Palash Sundaram | |
Tags: Cost Accounting Cost Concepts: Analysis and Behaviour Financial Accounting Job, Batch and Contract Costing |
Directions: Choose the correct option for the given question:
Obsolescence is _____ depreciation.
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The maximum possible capacity is called
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______ is the capacity available for use during the normal period.
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In cost ledger accounting, transactions are recorded on the basis of
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General ledger adjustment accounts represent _____ accounts in financial books.
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Postings in wage control account are made from
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The balance of ______ represents the total balance of stock of each item of material.
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______ are total accounts maintained in the cost ledger.
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Theoretical capacity is the _____ possible capacity.
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Control accounts are maintained in
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At the end of any period, the total balance of ______ should be equal to the balance in the work-in-progress ledger control.
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______ is prepared to make the cost ledger self balancing.
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______ in cost ledger represents personal accounts in financial books.
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The closing balance of cost of sales account is transferred to
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The work-in-progress control account is credited with the
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An account is maintained for each job in _____ ledger.
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The need of reconciliation arises in ______ accounting system.
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Notional charges are _____ to costing profit to reconcile it with profit as per financial books.
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Under _____ accounting system, cost and financial accounts are merged in one ledger.
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In contract costing payment of cash to the contractor is made on the basis of _____ work.
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When completion stage of contract is less than 1/4, the total expenditure on the contract is transferred to ______ account.
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_____ is considered in industries, where batch costing is employed.
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Integral accounting system avoids ______ of records.
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In cost plus contracts, the contractor gets cost plus
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Specific order costing includes job and ____ batch costing.
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In cement industries, unit of cost is per
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In job costing, each _____ is a cost unit to which all costs are assigned.
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_____ is applicable in canteens.
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Statement of cost and profit when presented in T form is called
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______ account does not record the balance of Stores Ledger Control Account.