Accounting MCQs

1590 MCQs (Page 59 of 159)

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If the current assets are $856000 and the working capital is $654500, then the current liabilities will be ___________?

A. $501,500
B. $401,500
C. $201,500
D. $301,500

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The costs that are not incorporated in accounting records, but are recognized in different situations are classified as ___________?

A. Congruent costs
B. Imputed costs
C. Operating costs
D. Transfer costs

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The formula to calculate return on investment, according to profitability analysis in DuPont method is ____________?

A. Return on sales * investment turnover
B. Return on sales + investment turnover
C. Return on sales – investment turnover
D. Investment turnover + residual income

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In the standard costing, the standard quantity allocation is multiplied to standard overhead rates for allocating __________?

A. Flexible costs
B. Variable costs
C. Overhead costs
D. Fixed costs

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An investment is multiplied to required rate of return, to calculate: _____________?

A. Congruent cost of investment
B. Transfer cost of investment
C. Operating cost of investment
D. Imputed cost of investment

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An energy, machine maintenance, indirect materials and engineering support are considered as ____________?

A. Variable overhead cost
B. Fixed overhead cost
C. Fixed batch cost
D. Variable batch cost

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If the flexible budget amount is $40000 and variable overhead flexible budget variance is $25000, then actual costs incur will be ____________?

A. $15,000
B. $35,000
C. $65,000
D. $75,000

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A company must eliminate all those activities that do not add value to all the products or services in planning of ___________?

A. Variable overhead cost
B. Fixed overhead cost
C. Fixed batch cost
D. Variable batch cost

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The difference between actual variable overhead cost and flexible budget variable overhead amount is termed as __________?

A. Overhead flexible budget variance
B. Overhead fixed budget variance
C. Overhead flexible cost variance
D. Overhead flexible price variance

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The budget, which highlights the difference between actual quantity and budgeted quantity is termed as _____________?

A. Actual cost budget
B. Flexible budget variance
C. Inflexible budget
D. Hourly budget

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