Question # 1

From the following statements which one is not true about over applied F.o.H

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Less from cost of goods sold at normal

Less from entire production if required

Add in gross profit if required

Less from Net profit.

Depreciation expenditure is a

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Fixed cost

Variable cost

Semi-variable cost

Step fixed cost

How many of grace are given?

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5

4

3

2

Which one is non-manufacturing costs?

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Direct material cost

Labour cost

Research and development cost

All of above

In job order costing system, each job is assigned a job cost

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Unit

Center

Driver

Sheet

The cost flow must match the

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Output

Outflow

Inflow

Workflow

The primary object of non-profit organizations is

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Not to earn profit

Work for the welfare of society

Buy/sell goods

A and B but not C

According to possible for an event or transaction which is not measurable in terms of money

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True

False

May be

None

The stages of accounting cycle are

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Transaction-ledger-journal-trial balance-final accounts

Transaction-journal-ledger-trial balance-final accounts

Transaction-journal-trial balance-ledger-final accounts

Transaction-journal-ledger-final accounts-trial balance

Outstanding expenses are also known as

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Prepared expenses

Accrued expenses

Un-earned income

None

Which one is not a functional classification?

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Manufacturing cost

Marketing cost

Finance cost

Mixed cost

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