831. The process of recording is done?
(A) Two times a year
(B) Once a year
C) Frequently during the accounting period
(D) At the end of an accounting period
832. Direct Material is a:
(A) Fixed cost
B) Variable cost
(C) Semi-variable cost
(D) None of them
833. Direct material is a:
A) Manufacturing cost
(B) Administration cost
(C) Selling and distribution cost
(D) Any of the above
834. In manufacturing industries, the most important element of cost is:
A) Material
(B) Labour
(C) Overheads
(D) None of the above
835. Which of the following is an accounting record?
(A) Bill of Material
(B) Bin Card
C) Stores ledger
(D) All of these
836. Which of the accompanying records is utilized for giving materials to production divisions?
(A) Purchase Requisition Note
B) Stores Requisition Note
(C) Goods Received Note
(D) Stores Credit Note
837. Which of the following is considered to be a normal loss of materials?
(A) Loss due to accidents
(B) Pilferage
C) Loss as a result of breaking the bulk
(D) Loss as a result of careless material handling
838. Which of the following pricing strategies approximates current economic values for issues?
A) Last-in-first-out price
(B) First-in-first-out price
(C) Highest -in-first-out price
D) Weighted average price
839. In which of the accompanying strategies for estimating, costs linger behind the ongoing financial qualities?
(A) Last-in-first-out price
B) First-in-first-out price
(C) Replacement price
(D) Weighted average price
840. Which of the following approaches to stock control focuses on a specific set of materials?
(A) Perpetual inventory system
(B) Materials turnover
(C) Maximum, Minimum, and re-order level setting
D) ABC analysis
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