1. The costs of office salaries, printing and stationery, office telephone are examples of
Selling and Distribution 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
4. The technique and process of ascertaining costs is the definition of
5. One of these is not a type of standard cost.
6. Generally, costs exclude variables such cost as ……
cost of materials
cost of labor
cost of distribution and selling,
7. A system of calculating the amount of money it takes to produce goods or operate a business is called
8. An added cost of a change in the level of activity is also called .
9. A costing system that does not help in decision-making is
10. Expenses that are specifically incurred and charged for a particular job, process, service, cost centre or cost unit are called
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