McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Management Studies (BMS) , Bachelor of Accounting and Finance (BAF) , Bachelor of Commerce (B Com) .
| 151. |
……………….is a method of evaluating the job in terms of its money value. |
| A. | Job analysis |
| B. | Job evaluation |
| C. | work measurement |
| D. | Motion study |
| Answer» B. Job evaluation | |
| 152. |
The requirements of a particular job are known as …………………… |
| A. | Job description |
| B. | job specifications |
| C. | job evaluation |
| D. | both a & b |
| Answer» A. Job description | |
| 153. |
Qualities demanded from the job holder is technically known as …………………… |
| A. | Job description |
| B. | job specifications |
| C. | job evaluation |
| D. | both a & b |
| Answer» B. job specifications | |
| 154. |
………………….is concerned with discovery of facts concerning a job and ……………….is concerned with ascertaining the money value of a job. |
| A. | Job description, job evaluation |
| B. | job specifications, job evaluation |
| C. | job analysis, job evaluation |
| D. | none of these |
| Answer» C. job analysis, job evaluation | |
| 155. |
For conducting …………………..workers are studied at their jobs and all their movements and motions are noted. |
| A. | Time study |
| B. | Motion study |
| C. | Merit rating |
| D. | none of these |
| Answer» B. Motion study | |
| 156. |
…………….. is the assessment of the relative worth of jobs within a company whereas ………….is the assessment of the relative worth of man behind the job. |
| A. | Job evaluation , merit rating |
| B. | job analysis, job evaluation |
| C. | job analysis, merit rating |
| D. | none of these |
| Answer» A. Job evaluation , merit rating | |
| 157. |
………………..is maintained to know how the worker’s time shown by the time card is spent on various jobs. |
| A. | Daily time sheets |
| B. | weekly time sheets |
| C. | job cards |
| D. | none of the above |
| Answer» C. job cards | |
| 158. |
In time wage system, wages are paid according to the………………. |
| A. | Production |
| B. | time |
| C. | both a & b |
| D. | none of these |
| Answer» B. time | |
| 159. |
Under piece rate system of wage payment, payment is made according to the………………… |
| A. | Quantity of work done |
| B. | time |
| C. | both a&b |
| D. | none of these |
| Answer» A. Quantity of work done | |
| 160. |
For a work order, standard time and time taken are 20 hours and 15 hours respectively. Time rate being Rs. 2 per hour, total wages payable under Rowan Premium Plan will be………………. |
| A. | 40 |
| B. | 37.50 |
| C. | 35 |
| D. | none of these |
| Answer» B. 37.50 | |
| 161. |
Taylors differential piece rate system provides for higher rate to …….workers. |
| A. | Inefficient |
| B. | efficient |
| C. | both a & b |
| D. | lazy |
| Answer» B. efficient | |
| 162. |
…………………..is most suitable when quality of work is of prime importance. |
| A. | Piece rate system |
| B. | time wage system |
| C. | both a & b |
| D. | none of these |
| Answer» B. time wage system | |
| 163. |
Formula of calculation of wages under Halsey Premium System is…… |
| A. | R + %(S-T)R |
| B. | T x R+ % (S-T) R |
| C. | S-T x T x R S |
| D. | R x S x T |
| Answer» B. T x R+ % (S-T) R | |
| 164. |
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. |
| A. | 83% and 100% |
| B. | 100% and 120% |
| C. | 0% and 83% |
| D. | none of these |
| Answer» A. 83% and 100% | |
| 165. |
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. |
| A. | 83% and 100% |
| B. | 100% and 120% |
| C. | 0% and 83% |
| D. | none of these |
| Answer» B. 100% and 120% | |
| 166. |
Under Merrick’s multiple piece rate system, ordinary piece rate is given to workers whose level of performance is between……………….of the standard output. |
| A. | 0% and 100% |
| B. | 0% and 120% |
| C. | 0% and 83% |
| D. | none of these |
| Answer» C. 0% and 83% | |
| 167. |
In …………………………., two piece rates are set for each job. |
| A. | Merrick’s multiple piece rate system |
| B. | Rowan’s Premium Plan |
| C. | Taylor’s differential piece rate system |
| D. | none of these |
| Answer» C. Taylor’s differential piece rate system | |
| 168. |
Basis of apportionment of stores service expenses is ……………….. |
| A. | Value of materials consumed |
| B. | units of material consumed |
| C. | products produced |
| D. | none of these |
| Answer» A. Value of materials consumed | |
| 169. |
Basis of apportionment of welfare department expenses is………….. |
| A. | Wages of each department |
| B. | Number of employees |
| C. | materials consumed |
| D. | number of machineries |
| Answer» B. Number of employees | |
| 170. |
Basis of apportionment of crèche expenses is …………….. |
| A. | Number of employees |
| B. | number of female employees |
| C. | number of male employees |
| D. | both b&c |
| Answer» B. number of female employees | |
| 171. |
Under step method of re-apportionment of costs of service departments, the cost of last service department is apportioned only to the ………….. |
| A. | Production departments |
| B. | service departments |
| C. | both a & b |
| D. | none of these |
| Answer» A. Production departments | |
| 172. |
Machine hour rate is obtained by dividing the total running expenses of a machine during a particular period by the………… |
| A. | Number of hours |
| B. | number of products produced |
| C. | number of workers |
| D. | wages |
| Answer» A. Number of hours | |
| 173. |
……………..is the amount by which the absorbed overheads fall short of the actual amount of overheads incurred. |
| A. | Over absorption of overheads |
| B. | under absorption of overheads |
| C. | overheads absorption |
| D. | none of these. |
| Answer» B. under absorption of overheads | |
| 174. |
…………….is the excess of overheads absorbed over the actual amount of overheads incurred. |
| A. | Over absorption of overheads |
| B. | under absorption of overheads |
| C. | overheads absorption |
| D. | none of these. |
| Answer» A. Over absorption of overheads | |
| 175. |
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. |
| A. | A predetermined rate |
| B. | actual rate method of absorption |
| C. | both a & b |
| D. | none of these |
| Answer» A. A predetermined rate | |
| 176. |
Expenses incurred during production other than direct materials and direct labour are called…………..factory expenses; those charged to production on estimated basis are called ……………. |
| A. | Actual, applied |
| B. | applied, actual |
| C. | indirect, direct |
| D. | none of these |
| Answer» A. Actual, applied | |
| 177. |
The per unit expense of the ……………portion factory overhead varies with the volume of production while………………..portion remains the same with volume. |
| A. | Fixed, variable |
| B. | variable, fixed |
| C. | variable, semi-variable |
| D. | none of these |
| Answer» A. Fixed, variable | |
| 178. |
…………………expenses are excluded from cost. |
| A. | Normal |
| B. | abnormal |
| C. | both a & b |
| D. | none of these |
| Answer» B. abnormal | |
| 179. |
Such expenses which are included (even though they are not incurred) for taking managerial decisions are called……………… |
| A. | Notional expenses |
| B. | actual expenses |
| C. | imputed |
| D. | none of these |
| Answer» A. Notional expenses | |
| 180. |
……………….expenses are partly fixed and partly variable. |
| A. | All expenses |
| B. | variable |
| C. | fixed |
| D. | semi-variable |
| Answer» D. semi-variable | |
| 181. |
Unsuccessful research expenditure should be …………….. cost accounts. |
| A. | Excluded from |
| B. | included in |
| C. | apportioned in |
| D. | none of these |
| Answer» A. Excluded from | |
| 182. |
Salary paid to general manager is an item of ……………………expenses. |
| A. | Fixed |
| B. | Variable |
| C. | semi-variable |
| D. | estimated |
| Answer» A. Fixed | |
| 183. |
Fancy packing is an example of ………….expenses. |
| A. | Selling |
| B. | Distribution |
| C. | administration |
| D. | factory |
| Answer» A. Selling | |
| 184. |
Telephone expense is …………….expense. |
| A. | Variable |
| B. | semi-variable |
| C. | fixed |
| D. | none of these |
| Answer» B. semi-variable | |
| 185. |
Primary packing is an item of ……………… |
| A. | Selling overheads |
| B. | prime cost |
| C. | distribution overheads |
| D. | factory overheads |
| Answer» B. prime cost | |
| 186. |
When factory overhead control account has an ending debit balance, factory overhead was……………… |
| A. | Over applied |
| B. | under applied |
| C. | both a & b |
| D. | none of these |
| Answer» B. under applied | |
| 187. |
Under applied or over applied factory overhead should be |
| A. | Carried forward to next year |
| B. | shown as an extraordinary item |
| C. | apportioned among cost of goods sold and applicable to inventory |
| D. | written off |
| Answer» C. apportioned among cost of goods sold and applicable to inventory | |
| 188. |
Credit and collection cost is an item of |
| A. | Selling overhead |
| B. | office overhead |
| C. | prime cost |
| D. | administrative overhead |
| Answer» A. Selling overhead | |
| 189. |
Warehousing cost is an item of |
| A. | Office overhead |
| B. | distribution overhead |
| C. | material cost |
| D. | works overhead |
| Answer» B. distribution overhead | |
| 190. |
In …………………..each job is a cost unit to which all costs are assigned. |
| A. | Batch costing |
| B. | Job costing |
| C. | process costing |
| D. | operation costing |
| Answer» B. Job costing | |
| 191. |
Material Costs of each job are determined from…………… |
| A. | Material requisition notes |
| B. | bill of materials |
| C. | both a & b |
| D. | none of these |
| Answer» C. both a & b | |
| 192. |
Printers use ………………costing. |
| A. | Process |
| B. | Batch |
| C. | job |
| D. | contract |
| Answer» C. job | |
| 193. |
Each job has a ………….. prepared for it that bears the job number and which is used to collect all cost data relating to job. |
| A. | Job Time Sheet |
| B. | Job Cost Card |
| C. | Job Ticket |
| D. | Job Account |
| Answer» B. Job Cost Card | |
| 194. |
An automobile service unit uses ………………costing. |
| A. | specific order |
| B. | batch |
| C. | job |
| D. | contract |
| Answer» C. job | |
| 195. |
Where the work is undertaken to Customers’ special requirements and each order is of comparatively short-duration, it is called…………..costing. |
| A. | Job |
| B. | batch |
| C. | operation |
| D. | output |
| Answer» A. Job | |
| 196. |
Economic Batch Quantity is an important point to be determined in industries where …………… costing is employed. |
| A. | Job |
| B. | batch |
| C. | operation |
| D. | output |
| Answer» B. batch | |
| 197. |
Economic Batch Quantity depends on ……………….and ……………..costs. |
| A. | Material, labour |
| B. | set-up costs, carrying |
| C. | transportation, carrying |
| D. | warehousing, labour |
| Answer» B. set-up costs, carrying | |
| 198. |
The ……………costing is applied when a quantity of similar and identical products are manufactured together as one Job. |
| A. | Job |
| B. | Batch |
| C. | operation |
| D. | output |
| Answer» B. Batch | |
| 199. |
The loss incurred on an incomplete contract is transferred to …………….account. |
| A. | Costing profit and loss account |
| B. | profit and loss account |
| C. | trading account |
| D. | deferred to next year. |
| Answer» B. profit and loss account | |
| 200. |
When the completion stage of the contract is more than half, the profit to be credited to Profit and Loss account will be equal to………….. |
| A. | 1/3rd of Notional Profit x cash received Work certified |
| B. | ½ of Notional Profit x cash received Work certified |
| C. | 2/3rd of Notional profit x cash received Work certified |
| D. | full Notional Profit. |
| Answer» C. 2/3rd of Notional profit x cash received Work certified | |
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