Accounting MCQs

A. Inventory costs
B. Period costs
C. Timed costs
D. Labor overheads

A. Contracting costs
B. Product cost
C. Government costs
D. Marketing costs

A. Prime overhead
B. Conversion overhead
C. Factory overhead
D. Manufacturing overhead

A. Inventory costs
B. Product costs
C. Non-manufacturing costs
D. Manufacturing costs

A. Work in process costs
B. Finished costs
C. Direct manufacturing labor costs
D. Indirect manufacturing labor costs

A. Direct materials inventory
B. Work in process inventory
C. Finished goods inventory
D. Indirect material inventory

A. Factory overhead costs
B. Manufacturing overhead costs
C. Inventoriable costs
D. Finished costs

A. Current assets
B. Fixed assets
C. Current assets& current liabilities
D. All of the above

A. Errors which affect one account can be errors of posting
B. Errors of omission arise when any transaction is left to be recorded
C. Errors of carry forward from one year to another year affect both personal and real a/c
D. Errors of commission arise when any transaction is recorded in a fundamentally incorrect manner

A. Credit to wage expense for ` 64,000
B. Debit to wage expense for ` 64,000
C. Debit to wage expense for ` 51,000
D. Debit to wage expense for ` 13,000