Cost accounting is a sort of accounting procedure that aims to capture a firm’s cost of production by evaluating the input costs of each step of production along with fixed costs such as devaluation of capital equipment. Cost accounting will certainly initially gauge as well as tape-record these costs independently, after that contrast input results to output or actual results to assist company monitoring in determining monetary performance. Click here for quiz on Cost of Capital
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- Question 1 of 10
1. Question1 points
Obsolescence is the measure of the loss of value of an asset due to :CorrectIncorrect
- Question 2 of 10
2. Question1 points
Which of the following is not a production cause of idle capacity?CorrectIncorrect
- Question 3 of 10
3. Question1 points
Functionally, administration expenses may comprise expenses of the following activities:CorrectIncorrect
- Question 4 of 10
4. Question1 points
Which of the following is not a possible method of accounting for administration overheads?CorrectIncorrect
- Question 5 of 10
5. Question1 points
Which of the following is not used as a base for apportionment of administration overheads?CorrectIncorrect
- Question 6 of 10
6. Question1 points
In account ting for labourcost:CorrectIncorrect
- Question 7 of 10
7. Question1 points
Productive causes of idle time include the following except :CorrectIncorrect
- Question 8 of 10
8. Question1 points
The treatment of idle time in cost includes the following:CorrectIncorrect
- Question 9 of 10
9. Question1 points
Overtime premium may be treated, depending on the circumstances, as:CorrectIncorrect
- Question 10 of 10
10. Question1 points
A manufacturing firm is very busy and is working overtime. The amount of overtime premium contained in direct wages would normally be classed as :CorrectIncorrect