According to accounting system the collection of cost data, in an organized way is classified as ___________?

Related Mcqs:

1. The third step in estimation of cost function, by using quantitative analysis is collection of data for ___________?

   A. cost and cost object
   B. price and cost driver
   C. dependent variable and cost driver
   D. independent variable and cost driver

2. The type of accounting, which reports financial and non-financial data about the cost of material and acquiring of resources is classified as ____________?

   A. material accounting
   B. cost accounting
   C. supplies accounting
   D. business accounting

3. An accounting which records and measures the business transactions and is followed by generally accepted accounting principles is classified as ____________?

   A. external accounting
   B. internal accounting
   C. business accounting
   D. financial accounting

4. In process costing method, when the work done in current accounting period, and beginning inventory before current accounting period, is classified as _________?

   A. partial inventory costing method
   B. current period inventory method
   C. Last-in, first-out method
   D. First-in, first-out method

5. In cost accounting, the financial way of charging price for product above the cost, of acquiring or producing the goods is known as ___________?

   A. sales margin
   B. cost margin
   C. Gross margin
   D. income margin

6. In accounting, the cost which is predicted to be incurred or future cost is known as ________?

   A. past cost
   B. incurred cost
   C. actual cost
   D. budgeted cost

7. An accounting approach, in which the expected benefits exceed the expected cost is classified as ___________?

   A. benefit approach
   B. cost approach
   C. cost-benefit approach
   D. accounting approach

8. If the cost of indirect support labor is $5000, equipment maintenance setup cost is $7000 and machinery leasing cost is $4000 then variable fixed cost will be ___________?

   A. $16,000
   B. $12,000
   C. $18,000
   D. $21,000

9. In accounting, the cost incurred in past or in historical financial statements is classified as ________?

   A. actual cost
   B. budgeted cost
   C. past cost
   D. incurred cost

10. In adjustment issues and data collection, the inflation affects the _________?

    A. cost driver and cost
    B. cost object and cost
    C. heterogeneous cost
    D. homogenous cost