MCQOPTIONS
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MCQOPTIONS
This section includes 1375 Mcqs, each offering curated multiple-choice questions to sharpen your Commerce knowledge and support exam preparation. Choose a topic below to get started.
| 451. |
Under which method of wage payment, wages are influenced by idle time? |
| A. | traight piece rate |
| B. | ifferential piece rate |
| C. | remium and bonus plan |
| D. | ime wage rate |
| Answer» E. | |
| 452. |
Which of the following method of wage payment is most suitable where the speed of production is beyond the control of worker? |
| A. | ime rate system |
| B. | iece rate system |
| C. | alsey premium system |
| D. | owan premium plan |
| Answer» B. iece rate system | |
| 453. |
Under which plan efficiency is shared by employee and employer equally? |
| A. | ime rate |
| B. | antts task and bonus plan |
| C. | alsey plan |
| D. | owan plan |
| Answer» D. owan plan | |
| 454. |
Under which method the rate of wages are linked with the cost of living index? |
| A. | lat time rate |
| B. | igh day rate |
| C. | easured day rate |
| D. | raduated time rate |
| Answer» E. | |
| 455. |
Annual usage is 6000 units @ Rs 20 per unit Cost of placing an order is Rs 60 and annual carrying cost of one unit is 10% of inventory value EOQ = __________. |
| A. | 00 units |
| B. | 50 units |
| C. | 200 units |
| D. | 250 units |
| Answer» B. 50 units | |
| 456. |
This is a level at which normal issue of material are stopped, but issued under special condition It is ________. |
| A. | aximum stock level |
| B. | inimum stock level |
| C. | anger level |
| D. | verage stock level |
| Answer» D. verage stock level | |
| 457. |
This is a point at which the store keeper should initiate purchase requisition for fresh supply It is ________. |
| A. | aximum stock level |
| B. | inimum stock level |
| C. | eorder level |
| D. | verage stock level |
| Answer» D. verage stock level | |
| 458. |
Under ABC method of material control, the material are classified according to __________. |
| A. | ts value |
| B. | ts usage |
| C. | ts nature |
| D. | ts availability |
| Answer» B. ts usage | |
| 459. |
Direct material is a _______. |
| A. | ixed cost |
| B. | ariable cost |
| C. | emi variable cost |
| D. | emi fixed cost |
| Answer» C. emi variable cost | |
| 460. |
A document which provides for the detailed cost centre and cost unit is _______. |
| A. | ender |
| B. | ost sheet |
| C. | nvoice |
| D. | rofit statement |
| Answer» C. nvoice | |
| 461. |
Job costing used in ________. |
| A. | aper mills |
| B. | hemical works |
| C. | rinting works |
| D. | extile mill |
| Answer» D. extile mill | |
| 462. |
Office and administrative expenses can be charged on the basis of _______. |
| A. | aterial cost |
| B. | abour cost |
| C. | rime cost |
| D. | actory cost |
| Answer» D. actory cost | |
| 463. |
If units of normal spoilage are 150 and total good units manufactured are 1500, then normal spoilage rate would be |
| A. | 4.00% |
| B. | 5.00% |
| C. | 0.00% |
| D. | 2.00% |
| Answer» D. 2.00% | |
| 464. |
Cost of abnormal spoilage is not treated as |
| A. | onversion costs |
| B. | unk costs |
| C. | nventoriable costs |
| D. | on inventoriable costs |
| Answer» E. | |
| 465. |
An amount of spoilage that is natural in any particular production process is classified as |
| A. | ormal scrap |
| B. | ormal spoilage |
| C. | bnormal spoilage |
| D. | eighted spoilage |
| Answer» C. bnormal spoilage | |
| 466. |
Costing, which explains how and when scrap affects operating income of company is classified as |
| A. | nventory costing |
| B. | onversion costing |
| C. | ormal scrap costing |
| D. | bnormal scrap costing |
| Answer» B. onversion costing | |
| 467. |
If beginning work in process inventory units are 2600, units started are 9000, ending work in process units are 2300 and completed good units are 8000 then total spoilage will be |
| A. | 200 units |
| B. | 90 units |
| C. | 100 units |
| D. | 000 units |
| Answer» D. 000 units | |
| 468. |
Normal spoilage is subtracted from total spoilage to calculate |
| A. | bnormal spoilage |
| B. | ross weighted spoilage |
| C. | nventoriable spoilage |
| D. | artial spoilage |
| Answer» B. ross weighted spoilage | |
| 469. |
Aspects of accounting for scrap includes |
| A. | hysical tracking |
| B. | on-inventoriable costing |
| C. | nventory costing |
| D. | oth a and c |
| Answer» E. | |
| 470. |
If transferred out total cost is $1850000 and number of good units (produced), then cost per good unit transferred out and completed can be |
| A. | 45.1724 |
| B. | 55.1724 |
| C. | 78.1724 |
| D. | 68.1724 |
| Answer» C. 78.1724 | |
| 471. |
Production units that do not meet customer specification, but can be sold to other customers as finished goods are classified as |
| A. | educed work |
| B. | poilage |
| C. | ework |
| D. | crap |
| Answer» D. crap | |
| 472. |
Stage in production process, where manufactured goods are checked; whether units are acceptable or not is classified as |
| A. | ework point |
| B. | nspection point |
| C. | poilage point |
| D. | crap point |
| Answer» C. poilage point | |
| 473. |
Sum of beginning work in process inventory units and started units, is subtracted from sum of ending work in process inventory units and transferred out units of goods to calculate |
| A. | ross weighted spoilage |
| B. | nventoriable spoilage |
| C. | artial spoilage |
| D. | otal spoilage |
| Answer» E. | |
| 474. |
An amount of spoilage that is not natural in a specific production process is categorized as |
| A. | ormal scrap |
| B. | ormal spoilage |
| C. | bnormal spoilage |
| D. | eighted spoilage |
| Answer» D. eighted spoilage | |
| 475. |
Which one of following is an example of spoilage? |
| A. | hort lengths from wood work |
| B. | efective aluminium cans recycled by manufacturer |
| C. | etection of defective pieces before shipment |
| D. | ll of above |
| Answer» C. etection of defective pieces before shipment | |
| 476. |
Types of spoilage include |
| A. | ormal spoilage |
| B. | bnormal spoilage |
| C. | eighted spoilage |
| D. | oth a and b |
| Answer» E. | |
| 477. |
In process and job costing system, normal spoilage cost is considered as |
| A. | onversion costs |
| B. | unk costs |
| C. | nventoriable costs |
| D. | on inventoriable costs |
| Answer» D. on inventoriable costs | |
| 478. |
Partial or completed units of manufactured goods, that do not meet customer specifications and get sold at reduced price or simply discarded, are called |
| A. | poilage |
| B. | ework |
| C. | crap |
| D. | quivalence |
| Answer» B. ework | |
| 479. |
Approaches used to allocate joint costs include |
| A. | ales value at split off method |
| B. | et realizable value method |
| C. | onstant gross margin percentage NRV method |
| D. | ll of above |
| Answer» E. | |
| 480. |
If percentage of overall gross margin is 15 and final sales value of whole production is $20000, then gross margin (in dollars) will be |
| A. | 30,000 |
| B. | 300,000 |
| C. | 40,000 |
| D. | 400,000 |
| Answer» C. 40,000 | |
| 481. |
Final sales is subtracted from net realizable value is used to calculate |
| A. | eparable costs |
| B. | nseparable costs |
| C. | oint costs |
| D. | loating costs |
| Answer» B. nseparable costs | |
| 482. |
Percentage of overall gross margin is multiplied to final sales value of products total production is used to calculate |
| A. | ross margin in terms of amount of money |
| B. | ross margin in terms of separable costs |
| C. | ross margin in terms of total cost |
| D. | ross margin in terms of labour cost |
| Answer» B. ross margin in terms of separable costs | |
| 483. |
If net realizable value is $20000 and separable costs are $18000, then final sales will be |
| A. | 20,000 |
| B. | 18,000 |
| C. | 2,000 |
| D. | 38,000 |
| Answer» E. | |
| 484. |
An expected future cost which diverges in unconventional course of action is known as |
| A. | artial cost |
| B. | otal cost |
| C. | rrelevant cost |
| D. | elevant cost |
| Answer» E. | |
| 485. |
Third step in constant gross margin percentage NRV Method to allocate joint cost is to compute |
| A. | ross margin percentage |
| B. | otal production cost of each product |
| C. | llocated joint costs |
| D. | ost of split off point |
| Answer» D. ost of split off point | |
| 486. |
Gross margin percentage in constant gross-margin percentage NRV method is based on |
| A. | otal labour costs |
| B. | otal production |
| C. | otal revenues |
| D. | otal costs |
| Answer» C. otal revenues | |
| 487. |
Point in joint production process, in which two or more products are separately identifiable is termed as |
| A. | tep down point |
| B. | ncremental point |
| C. | plit off point |
| D. | nseparability point |
| Answer» D. nseparability point | |
| 488. |
Any output that has total positive sales is a |
| A. | oint product |
| B. | ain product |
| C. | roduct |
| D. | ll of above |
| Answer» E. | |
| 489. |
Joint cost allocation method for joint products, which is based on achievable value is known as |
| A. | oint products value at split off method |
| B. | ain product cost at split off method |
| C. | ross realizable value method |
| D. | et realizable value method |
| Answer» E. | |
| 490. |
In a joint process of production, two or more products that yield high volume of sales as compared to total sales of other products are classified as |
| A. | plit off product |
| B. | oint product |
| C. | unk product |
| D. | ain product |
| Answer» C. unk product | |
| 491. |
An expected future revenue, which diverges in unconventional course of action is classified as |
| A. | artial revenue |
| B. | otal revenue |
| C. | elevant revenues |
| D. | rrelevant revenues |
| Answer» D. rrelevant revenues | |
| 492. |
In a joint process of production, a product which yields high volume of sales as compared to total sales volume of other products is known as |
| A. | ncremental product |
| B. | unk product |
| C. | ain product |
| D. | plit off product |
| Answer» D. plit off product | |
| 493. |
Second step, in constant gross margin percentage NRV method, to allocate joint cost is to compute |
| A. | llocated joint costs |
| B. | ost of split off point |
| C. | ross margin percentage |
| D. | otal production cost of each product |
| Answer» E. | |
| 494. |
If value of final sales is $48000 and net realizable value is $35000, then value of sales costs would be |
| A. | 35,000 |
| B. | 13,000 |
| C. | 83,000 |
| D. | 48,000 |
| Answer» C. 83,000 | |
| 495. |
Manufacturing, distribution and marketing costs incur after split off point is classified under |
| A. | eparable costs |
| B. | oint costs |
| C. | ain costs |
| D. | plit off costs |
| Answer» B. oint costs | |
| 496. |
Joint cost allocation method, in which individual product from joint products must gain a gross margin percentage is classified as |
| A. | ales value at split off method |
| B. | oint products value at split off method |
| C. | onstant gross margin percentage NRV method |
| D. | ross realizable value method |
| Answer» D. ross realizable value method | |
| 497. |
If final sales are $50000 and separable costs are $35000, then net realizable value will be |
| A. | 15,000 |
| B. | 85,000 |
| C. | 35,000 |
| D. | 50,000 |
| Answer» B. 85,000 | |
| 498. |
As compared to sale value of main products, by-products have |
| A. | ow sale value |
| B. | igh sale value |
| C. | nstable sale value |
| D. | elevant sale value |
| Answer» B. igh sale value | |
| 499. |
Type of spoilage, which is considered as controllable and can be avoided is called |
| A. | bnormal spoilage |
| B. | ormal spoilage |
| C. | ransferred-in spoilage |
| D. | ransferred-out spoilage |
| Answer» B. ormal spoilage | |
| 500. |
Total transferred-out cost plus normal spoilage is divided by number of goods units produced to calculate |
| A. | ost per good units transferred out |
| B. | ost per good units transferred in |
| C. | evenue per good units transferred out |
| D. | evenue per good units transferred in |
| Answer» B. ost per good units transferred in | |