Cost and Management Accounting
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Cost and Management Accounting
1. Process cost is very much applicable in:
A. Construction industry
B. Pharmaceutical industry
C. Airline company
D. None of these
Show Answer
Answer: B. Pharmaceutical industry
2. Which of the following is/are method of calculation of purchase price?
A. LIFO
B. FIFO
C. Net Assets Method
D. All of these
Show Answer
Answer: C. Net Assets Method
3. Direct material cost and direct labour cost is called:
A. Prime cost
B. Conversion cost
C. Product cost
D. All of these
Show Answer
Answer: A. Prime Cost
4. Idle capacity of a plant refers to the difference between:
A. maximum capacity and practical capacity
B. practical capacity and normal capacity
C. practical capacity and capacity based of sales expectancy
D. maximum capacity and actual capacity
Show Answer
Answer: D. maximum capacity and actual capacity
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