291. The most suitable cost system -where the products differ in type of materials used and work performed is:
A) Job costing
(B) Operating costing
(C) Process costing
(D) None of these
292. In shoe manufacture, the most suitable cost system is:
(A) Job costing
(B) Contract costing
C) Batch Costing
(D) None of these
293. Job costing is used in:
A) Repair shops
B) Furniture making
C) Printing presses
D) Automobiles garages
E) All of these
294. Most of the expenses are direct in:
(A) Job costing
B) Contract costing
(C) Batch Costing
(D) All of these
295. When a contract is not completed at the end of the accounting year, profit on an incomplete contract is:
(A) Transferred to profit and loss accounts
(B) Transferred to reserve
C) Moved halfway to benefit and misfortune account and somewhat to hold
(D) None of them
296. When a contract is not completed at the end of the year, the loss on an incomplete contract is:
A) Transferred to profit and loss account
(B) Transferred to work in progress
(C) Moved part of the way to benefit and misfortune account and halfway to work underway
(D) None of them
297. When a contract is 40% complete, the amount of profit to be taken credit for is usually:
(A) The amount of profit estimated
(B) 40% of the estimated price
C) 1/3 of the estimated profit multiplied by the cash ratio
(D) None of them
298. In contract accounts, the amount of work in progress consists of:
(A) Cost of work finished, affirmed and uncertified
(B) Cost of work uncompleted
(C) The amount of profit not transferred to the profit and loss account
D) A, B, and C
299. Any order Notice or requisition requires being served on a resident individual is sent by a registered post or courier service to the individuals?
(A) E-mail address
B) Last Known Address in Pakistan
(C) Official Address
(D) None of these
300. Section _ deals with the removal of difficulties.
(A) 53
(B) 54
C) 55
(D) 56
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