The ordinary trading account is a locked storehouse of most valuable information to which cost system is the……………….

Related MCQs

• ABC ltd. uses the following flexible budget formula to annual maintenance cost: Total cost = Rs. 6720 + Rs. 0.64 for machine hour The current month's budget is based on 20,000 hours of planned machine time. The maintenance cost included in this flexible budget for the current month is
• A statement prepared to provide detailed cost of a cost centre or cost unit is
• Under Merrick’s multiple piece rate system, 110% of the ordinary piece rate is given to workers whose level of performance is between……. of the standard output.
• Under Merrick’s multiple piece rate system, 120% of the ordinary piece rate is given to workers whose level of performance is between……………….of the standard output.
• Under Merrick’s multiple piece rate system, ordinary piece rate is given to workers whose level of performance is between……………….of the standard output.
• In this technique of selective control, materials are analysed according to their value so that costly and more valuable materials are given greater attention and care
• A technique of inventory control where materials are analyzed according to their values so that costly and more valuable materials are given greater attention and care.
• A contract account is a _______ account in nature.
• In process costing, the abnormal loss is treated as ……….cost and written off to profit & loss account.
• Material costs which cannot be allocated but which are to be apportioned or absorbed by cost centres or cost units.