……is the value of a benefit where no actual cost is incurred.

Related MCQs

• is the amount by which the absorbed overheads fall short of the actual amount of overheads incurred.
• is the excess of overheads absorbed over the actual amount of overheads incurred.
• Direct cost incurred can be identified with .
• The cost which is to be incurred even when a business unit is closed is a.
• When …………………….is used on the basis of budgeted overheads and the rate is applied to the actual base, the actual overhead expenses may be different from the charged overheads.
• Sales Rs. 25,000; Variable cost Rs. 8,000; Fixed cost Rs. 5,000; Break-even sales in value .
• Expenses incurred during production other than direct materials and direct labour are called…………..factory expenses; those charged to production on estimated basis are called …………….
• Such expenses which are included (even though they are not incurred) for taking managerial decisions are called………………
• The loss incurred on an incomplete contract is transferred to ………….account.
• The budget prepared to estimate the expenditure to be incurred for planning, organizing, direction and control function of the management is .