In profit center revenue represents a monetary measure of output emanating from a profit center in a given period irrespective whether

Related MCQs

• Which of the following is/are the responsibilty centres. I)Cost centre II)Investment Centre III)Profit center IV)Revenue Centre
• Total revenue from operations ₹27,00,000; Credit revenue from operations ₹18,00,000; Opening Debtors ₹3,20,000; Closing Debtors ₹4,00,000; Provision for Doubtful Debts ₹60,000. Trade Receivables Turnover Ratio will be :
• The cost that tends to remain constant irrespective of the level of activity is called _______.
• If the responsibility centre gets more revenue from output, then it is called -
• Given Sales is Rs.2,40,000 and Gross Profit is 60,000, the Gross Profit Ratio is
• It may not be ______ to measure exactly the output of service departments in an organization.
• If the actual output is more than the budgeted output, volume variance is
• Which of the following are the assumptions of marginal costing? 1) All the elements of cost can be divided into fixed and variable components. 2) Total fixed cost remains constant at all levels of output. 3) Total variable costs vary in proportion to the volume of output. 4) Per unit selling price remain unchanged at all levels of operating activity.
• _______ is designed after assessment of the volume of output to be produced during budget period.
• Which of the following statements are false about management accounting? (i) Management accounting is concerned with historical events. (ii) Management accounting is related only with such instances which can be expressed in monetary terms. (iii) Management accounting is a part of Financial Management (iv) Management accounting information can be disclosed to outsiders.