Directions: Choose the correct option for the given question: In automobile industry, multiple costing is used.

Directions: Choose the correct option for the given question: Fixed cost per unit remains fixed.

Directions: Choose the correct option for the given question: An item of cost which is direct for one business may be indirect for another.

Directions: Choose the correct option for the given question:Period Costs form a part of Inventory Valuation.

Directions: Choose the correct option for the given question: Every management decision deals with future.

Directions: Choose the correct option for the given question: Relevance and accuracy have synonymous meaning.

Directions: Choose the correct option for the given question: The term overhead and indirect expenses have the same meaning.

Directions: Choose the correct option for the given question: Past costs are not significant for decision making.

Directions: Choose the correct option for the given question: There is no significant difference between forecast and budget.

Directions: Choose the correct option for the given question: In case of qualitative factors, the judgment of the decision maker prevails.

Directions: Choose the correct option for the given question: Sale budget is the most important budget among all budgets.

Directions: Choose the correct option for the given question: All future costs are not relevant costs.

Directions: Choose the correct option for the given question: A fixed budget concerned with budgeting of fixed assets.

Directions: Choose the correct option for the given question:A fixed budget is preferable to flexible budget.

Directions: Choose the correct option for the given question: The principal budget factor constitutes the starting point for the preparation of various budgets.

Directions: Choose the correct option for the given question: A budget manual contains a summary of all functional budgets.

Directions: Choose the correct option for the given question: The first step in preparing budget is determining the cost of goods sold.

Directions: Choose the correct option for the given question: A fixed budget is one which is designed to remain unchanged irrespective of level of activity.

Directions: Choose the correct option for the given question: Cost centre and responsibility centre are not synonymous terms.

Directions: Choose the correct option for the given question:A flexible budget is necessary for a business enterprise whose demand for goods is stable.

Directions: Choose the correct option for the given question: Over capitalization is more dangerous than under capitalization.

Directions: Choose the correct option for the given question:Capital and capitalization are synonymous terms.

Directions: Choose the correct option for the given question: Cost Accounting is a branch of Financial Accounting.

Directions: Choose the correct option for the given question: Depreciation is an out of pocket cost.

Directions: Choose the correct option for the given question: Operating Costing and Operation Costing are synonymous terms.