Accounting MCQs

1590 MCQs  (Page 56 of 159)

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A unit cost calculated in costing system, by assigning total costs incurred to many similar units is categorized as _________?
A. Accounting period costing system
B. Process costing system
C. Job costing system
D. None of above
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The total costs incur in a production process, is divided by total number of output units, to calculate the ____________?
A. Cost of indirect labor
B. Cost of direct labor
C. Cost of direct material
D. Unit costs
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The standardized technique that is performed repetitively on different kind of materials to convert them into different finished products is known as __________?
A. Conversion process
B. Operation
C. Hybridization
D. Both a and b
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In process costing method, when the work done in current accounting period, and beginning inventory before current accounting period, is classified as _________?
A. Partial inventory costing method
B. Current period inventory method
C. Last-in, first-out method
D. First-in, first-out method
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The first step in process costing system is to ___________?
A. Summarize flow of output
B. Compute output in units
C. Summarize total costs
D. Compute cost for each equivalent unit
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The hybrid costing system, which is applied to batches of similar products, but are not identical is classified as ____________?
A. Incremental costing system
B. Split off costing system
C. Inventoriable costing system
D. Operation costing system
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If the units of normal spoilage are 150 and the total good units manufactured are 1500, then the normal spoilage rate would be __________?
A. 14%
B. 15%
C. 10%
D. 12%
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The costing system, which is a combination of process costing and job costing system, is classified as __________?
A. Weighted costing system
B. Average costing system
C. Hybrid costing system
D. Double costing system
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The total available assets are subtracted from idle assets to calculate
A. Market equity
B. Total assets employed
C. Total assets available
D. Stockholders’ equity
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The formal information systems, used in organizations to focus company’s learning and attention, given to the most important strategic issues are known as ____________?
A. Interactive control system
B. Belief systems
C. Boundary systems
D. Diagnostic control systems
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Word of the Day
16 Jul
Volatile
(of a substance) easily evaporated at normal temperatures.
بدلتے مزاج والا، کافور صفت

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