ABC – Activity Based Costing
The Activity Based Costing (ABC) is a costing system, which focuses on activities performed to produce products. ABC is that costing in which costs are first traced to activities and then to products. This costing system assumes that activities are responsible for the inccurence of costs and create the demands for activities. E.g. an accounting firm prepares tax returns; a University teaches students. Costs are charged to products based on individual product’s use of each activity. In traditional absorption costing system, costs are first traced not to activities but to an organizational unit, such as department or plant and then to products. It means under both, ABC and traditional absorption costing system the second and final stage consists of tracing costs to the product.
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- Question 1 of 10
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Which of the following is a balanced fertiliser for plants ?CorrectIncorrect
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Which of the following is a mixed fertiliser ?CorrectIncorrect
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Pulse crops can fix atmospheric nitrogen because ofCorrectIncorrect
- Question 4 of 10
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The nitrogen in urea is present in the form ofCorrectIncorrect
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Weedicide used for rice isCorrectIncorrect
- Question 6 of 10
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Plant identical to mother plant can be had fromCorrectIncorrect
- Question 7 of 10
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Higher plants take up nitrogen asCorrectIncorrect
- Question 8 of 10
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Seeds can best be preserved in :CorrectIncorrect
- Question 9 of 10
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Cotton fibre is rooted fromCorrectIncorrect
- Question 10 of 10
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Plants that are derived from the vegetative organs of a single plant are khown asCorrectIncorrect