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

Related Mcqs:

1. In accounting, the possibility of deviation of actual amount from an expected amount is classified as ___________?

   A. contribution
   B. certainty
   C. uncertainty
   D. margin

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 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

4. An approach which yields the benefits of normal costing and the actual manufacturing overhead is classified as ____________?

   A. unadjusted allocation rate approach
   B. adjusted budget rate approach
   C. unadjusted budget rate approach
   D. adjusted allocation rate approach

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

   A. system accumulation
   B. accumulated data
   C. cost accumulation
   D. organized accumulation

7. The philosophy, in which the management works to improve value chain of the products, to exceed customer expectations is classified as ____________?

   A. quality
   B. management chain
   C. customer chain
   D. cost chain

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. The budget which calculates the expected revenues and expected costs, based on the actual output quantity is named as __________?

   A. flexible budget
   B. fixed budget
   C. variable budget
   D. multiplied budget

10. 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