Costing - Study Mode
[#431] Match the items of List-I with the items of List-II and choose the correct answer. List-I (Critical Control Standards) List-II (Critical Points) a. Physical standards 1. Material cost per unit b. Cost standards 2. Labour hours per unit of output c. Revenue standards 3. Timing of production d. Programme standards 4. Average sales per customer
Correct Answer
(A) a-2, b-1, c-4, d-3
[#432] During the period of rising prices, higher profits can be shown by valuing stock at:
Correct Answer
(B) F.I.F.O. basis
[#433] X Ltd has a liquid ratio of 2 : 1. If its stock is Rs. 40,000, and its current liabilities are of Rs. 1,00,000, its current ratio will be
Correct Answer
(B) 2.4 times
[#434] Total Cost (+) contracts are generaelly applicable in cases where
Correct Answer
(B) The contractor wants to earn a certain amount of profit
[#435] Which is the best measurement by the centre's for the contribution of a profit centre to the overall profitability of the business in the long-run?
Correct Answer
(D) Responsibility margin