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Question-1
Factory overhead are also known as____
(A)
Office overheads
(B)
Selling overheads
(C)
Manufacturing overheads
(D)
Distribution over heads
Question-2
If percentage of profit is given on selling price then how will you calculate the amount of profit?
(A)
Cost of sales
(B)
Cost of sales
(C)
Cost of sales
(D)
cost of sales/100-rate
Question-3
Prime cost is other wise known as __________cost
(A)
Direct cost
(B)
Factory cost
(C)
Total cost
(D)
Cost of production
Question-4
Find out the non cost expenses from the following
(A)
Good will written off
(B)
Rent received
(C)
Wind fall gains
(D)
Abnormal profit
Question-5
______ are those materials which cannot become as part of the finished product
(A)
Direct material
(B)
Indirect material
(C)
Overheads
(D)
Finished product
Question-6
Abnormal loss of material should be _________ from the material.
(A)
Added
(B)
Deducted
(C)
Multiplied
(D)
Divided
Question-7
On common expenses such as fines and penalties are related to which cost or expenses.
(A)
Prime cost
(B)
Factory cost
(C)
Total cost
(D)
Non cost expenses
Question-8
By adding the amount of profit to cost of sales , we can find________
(A)
Fixed price
(B)
Fluctuating price
(C)
Selling price
(D)
Buying price
Question-9
The sum of direct materials, direct labour and direct expenses is known as_____
(A)
Factory cost
(B)
Cost of production
(C)
Total cost
(D)
Prime cost
Question-10
Labour which takes an active and direct part in the production of a particular commodity is called__________
(A)
Indirect expenses
(B)
Indirect labour
(C)
Direct expenses
(D)
Direct labour
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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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