An ability of an accounting system, to point out the use of resources in every step of production process is called ___________?

Related Mcqs:

1. 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

2. 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

3. In accounting, the resources sacrifice for achieving or fulfill specific objective is known as _________

   A. source cost
   B. sacrifice cost
   C. treated cost
   D. cost

4. 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

5. The forgone contribution of resources, into the revenues because of not using the resources, in next best use is classified as __________?

   A. in-source cost
   B. opportunity cost
   C. offshore cost
   D. outsource cost

6. The step by step business functions, in which product or services must have customer usefulness, is classified as ___________?

   A. value chain
   B. useful chain
   C. product chain
   D. services chain

7. The first step in decision making process is to ___________?

   A. identify the problem
   B. identify the linear variable
   C. identify the certainty
   D. identify the multiplier

8. The second step in decision making process is ___________?

   A. multi-collinearity information
   B. quantitative information
   C. qualitative analysis
   D. obtaining information

9. The first step in process costing system is to ___________?

   A. summarize flow of output
   B. compute output in units
   C. summarize total costs
   D. compute cost for each equivalent unit

10. The fifth step in process costing system is to ___________?

    A. allocate separable costs
    B. allocate joint costs
    C. compute gross margin
    D. assign total cost to completed units