Cost accounting is the identifying, recording as well as appropriate allocation of expenditure for the decision of the costs of services or products, as well as for the discussion of accordingly organized information for functions of control and support of management. It consists of the ascertainment of the cost of every order, job, contract, process, solution or system as may be appropriate. It handles the cost of production, selling and distribution. Click here for Quiz on Accounting Standards
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- Question 1 of 10
1. Question1 points
………. represents that quantity of material which is normally ordered when a particular material reaches the ordering level.CorrectIncorrect
- Question 2 of 10
2. Question1 points
The quantity of material to be ordered at one time is known asCorrectIncorrect
- Question 3 of 10
3. Question1 points
Stock verification sheets are maintained to record the result of ……… verification.CorrectIncorrect
- Question 4 of 10
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The two levels of material controls are quantity control andCorrectIncorrect
- Question 5 of 10
5. Question1 points
The two aspects of material control are accounting aspect and …………. aspect.CorrectIncorrect
- Question 6 of 10
6. Question1 points
Material control aims at achieving effective …………. management.CorrectIncorrect
- Question 7 of 10
7. Question1 points
Stores ledger is maintained in the ……… department.CorrectIncorrect
- Question 8 of 10
8. Question1 points
Bin card is a record of ………. only.CorrectIncorrect
- Question 9 of 10
9. Question1 points
Bin card is maintained byCorrectIncorrect
- Question 10 of 10
10. Question1 points
With regard to break –even charts and break-even analysis, which of the following is true ?CorrectIncorrect