Related Mcqs:

1. A document which consists information about labor time usage, for specific job in a specific department, is known as __________?

   A. selling time record
   B. labor time record
   C. buying time record
   D. direct time record

2. Chemical engineering plant cost index is used for finding the present cost of a particular chemical plant, if the cost of similar plant at some time in the past is known. The present cost of the plant = original cost × (index value at present/ index value at time original cost was obtained). The most major component of this cost index is____________________?

   A. Fabricated equipment and machinery
   B. Process instruments and control
   C. Pumps and compressor
   D. Electrical equipments and material

3. An unemployed salesperson has been offered a job paying Rs500 a week. He turns that job down and continues to search for another job that pays more. The cost of this continued search is ?

   A. the Rs500 weekly salary that he has forgone to search for another job
   B. The Rs500 weekly salary that he has forgone and the monetary costs incurred by continuing to search
   C. Rs difference between the weekly salary he finally accepts and the Rs500 weekly salary that he has forgone
   D. Rs0, since he is currently unemployed

4. A document which contains information about the materials of specific product, in specific department comes under __________?

   A. costing method
   B. selling method
   C. material acquisition method
   D. none of above

5. The cost of 10 kg of apples is equal to the cost of 24 kg of rice. The cost of 6 kg of flour equals the cost of 2 kg of rice. The cost of each kg of flour is Rs.20.50. Find the total cost of 4 kg of apples, 3 kg of rice and 5 kg of flour?

   A. Rs.849.40
   B. Rs.877.40
   C. Rs.901.60
   D. Rs.815.20
   E. None of these
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6. The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?

   A. Depreciation
   B. Physical deterioration of the asset
   C. Decrease in market value of the asset
   D. Valuation of an asset at a point of time

7. In an accounting system, the document which supports journal entries is classified as _____________?

   A. cost document
   B. priced document
   C. source document
   D. direct document

8. 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

9. 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

10. All the costs, which are assigned to manufactured products for specific calculations are classified as ___________?

    A. contracting costs
    B. product cost
    C. government costs
    D. marketing costs