921. Electricity generating companies should employ:
A. Unit costing
B. Operation costing
C. Process costing
D. Operating costing
922. Job costing is used in:
A. Paper mills
B. Printing press
C. Chemical works
D. Textile mill
923. Output costing is employed in:
A. Mining quarries
B. Brick Kilns
C. Steel production
D. All of these
924. Contract costing is used in:
A. Shipbuilding
B. Automobile industries
C. Aeroplane industries
D. None of these
925. Cost accounting department prepares __ that helps them in preparing final accounts?
(A) Cost sheets
(B) Cost of goods sold statement
(C) Cost of production Report
(D) Material requisition form
926. A cost centre is:
A) A unit of product or service in relation to which costs are ascertained
(B) An amount of expenditure attributable to an activity
(C) A production or service location, function, activity, or item of equipment for which costs are accumulated
(D) A center for which an individual budget is drawn up
927. The cost of the electricity bill of the factory is treated as:
(A) Fixed cost
(B) Variable cost
(C) Step cost
(D) Semi-variable cost
928. While transporting petrol, a little quantity will be evaporated; such kind of loss is termed as:
(A) Normal Loss
(B) Abnormal Loss
(C) It is an incremental loss
(D) It cannot be abnormal loss
929. Closing work in process Inventory of last year:
A) Is treated as Opening inventory for the current year
(B) Is not carried forward to the next year
(C) Becomes an expense in the next year
(D) Charges to Profit & Loss account
930. The journal entry of the purchase of stock under the periodic inventory system would be?
(A) Inventory to Cash
(B) Cash to Purchases
(C) Purchases to Inventory
(D) None of the given options
Admin