By which means is a contractor able to control costs overruns due to changing requirements?

Related MCQs

• __________ is a written order directing the contractor to make changes according to the provisions of the contract documents.
• A location, person or item of equipment for which costs may be ascertained and used for the purposes of cost control is known as .
• …………………..does not deal with the accumulation, classification, analysis, allocation, summarization, interpretation, reporting and control of current and perspective costs.
• The term…………………. is comprehensively used to include various aspects such as costing, cost accounting, cost control, cost audit and budgetary control.
• …………..is the system of costing under which costs are determined after they have been incurred.
• The branch of accounting dealing with the classification, recording, allocation, summarization and reporting of current and prospective costs is known as
• ……………… is concerned with accounting and recording of costs.
• The following classes of costs are usually involved in inventory decisions except
• ……………………method of pricing material issues provides a better matching of current costs with current revenues.
• Weighted average cost method produces different allocation of inventory costs in periodic and perpetual inventory system?