ACC313
1. The costs of office salaries, printing and stationery, office telephone are examples of
Selling and Distribution Costs
Production Costs
Administrative Costs
Research and Development Costs
2. Establishing product costs does not helps in
knowing the performance of a business
determining the selling price
determining the Break-Even-Point (BEP) of goods.
setting the profit margin percentage on goods sold to the market.
3. Think before you act decision is called
Routine planning decisions
disinvestments decisions
Controlled decisions
Investment
4. The technique and process of ascertaining costs is the definition of
Cost
Costing
Cost Accounting
Cost Allocation
5. One of these is not a type of standard cost.
basic standard
ideal standard
attainable standard
Periodic cost
6. Generally, costs exclude variables such cost as ……
cost of materials
cost of labor
cost of distribution and selling,
Ordinary shares
7. A system of calculating the amount of money it takes to produce goods or operate a business is called
Accounting
Costing
Management Accounting
Financial Accounting
8. An added cost of a change in the level of activity is also called .
Opportunity Costs
Relevant Cost
Replacement Cost
incremental cost
9. A costing system that does not help in decision-making is
Marginal Costing
Absorption Costing
Labour Costing
Contribution approach
10. Expenses that are specifically incurred and charged for a particular job, process, service, cost centre or cost unit are called
Prime Costs
Overheads
indirect costs
Chargeable expenses
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