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Question-1
Which one of them is belongs to the bin card?
(A)
It gives physical information only
(B)
Postings are made after the transaction
(C)
Entries are made periodically
(D)
It is kept in the cost office
Question-2
______ cost represent the replacement price on the date of its consumption.
(A)
Historical cost
(B)
Current cost
(C)
Standard cost
(D)
None of these
Question-3
Identify the merits of perpetual inventory system from the following
(A)
It is an expensive affairs
(B)
It ensures a moral influence on the stores staff
(C)
Stock figure are not reliable
(D)
It is suitable to bigger firms
Question-4
____________are completed goods awaiting sale.
(A)
Raw materials
(B)
Goods in process
(C)
Work in process
(D)
Finished goods
Question-5
Identify the merits of perpetual inventory system
(A)
It is an expensive affair
(B)
It is suitable to bigger firms
(C)
Stock figure are not reliable
(D)
It facilitates the preparation of final accounts, even at short notice.
Question-6
Identify the Bin card from the following
(A)
It is a record of quantities only
(B)
It is record of both quantities and values
(C)
It is maintained by the cost clerk
(D)
It is kept in the cost office
Question-7
Identify the utility of Bin card from the following:
(A)
It shows the closing stock of every materials
(B)
It provides an independent check on the store ledger.
(C)
It provides a continuous record at stores received and issues
(D)
It provides the details necessary for pricing issue of materials
Question-8
_______ is a list of all materials required for a specific job, process or work order.
(A)
Bill of a material
(B)
Debenture
(C)
Partnership deed
(D)
Voucher
Question-9
When materials are transferred directly from one department to another, it is always recorded in a _______
(A)
Material requisition note
(B)
Purchase requisition note
(C)
Material inspection note
(D)
Material transfer note
Question-10
___________are completed goods awaiting sale.
(A)
Raw materials
(B)
Goods in process
(C)
Work in process
(D)
Finished goods
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Plus 2 Commerce
ICSE/ISC
Practice in Related Chapters
Partnership Accounts : Distribution of Profits
Goodwill - Concept and Mode its Valuation
Partnership Accounts : Admission of Partner
Capital Adjustment of Change of Profit Sharing Ratio
Admission of a Partner
Final Accounts of Companies
Joint Stock Company Accounts: Issue of Debentures
Cost Accounting An Introduction
Joint Venture Account
Sectional Balancing and Self Balancing System
Ratio Analysis
Cost Accounting Inventory Valuation
Cash Flow Statement
Cost Accounting Cost Sheet
Cash Flow Statement
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