For More Details

Visit At – www.scdlassignmentshelpline.com
Mail us – admin@scdlassignmentshelpline.com

Q. Budgets are the ceilings or limits on expenses above which actual

expenditure should not normally exceed and if it does ……..
the planned profits will be reduced.

Q. Select the transactions which can be entered in the Journal proper.

Opening entries , Closing entries , Rectification entries

Q. The production Cost Budget further classified under each element

of cost such as Direct Material Cost Direct Labour Cost and Overheads
Cost.
True.

Q. In case of the under or over absorption of the overheads arising out

of the abnormal circumstances, they are written off to Costing Profit and
Loss Account.
True.

Q. ………. is assessed at the end of accounting period by preparing the

balance sheet.
financial position

Q. Only large scale organization can afford to install & operate

management accounting because it requires?
Elaborate organizational structure, number of business rules & regulations.

Q. . Material cost is important part of manufacturing process, from the

given options which sentences are suitable for the term ?
Material cost can be direct or indirect. This is the cost of commodities & material
used by the organization.

Q. . What does direct labour cost indicate.

It indicates that labour cost which can be identified with the individual cost
centre. It is incurred for those employees who are engaged in the manufacturing
process.

Q. . Personal Accounts may consist of

Accounts of suppliers, capital account.
Q. In the Bin card entries in issue columns are made on the basis of
materials requisition note
True/False

Q. Financial accounting discloses the financial performance of a

business as a whole and not about an individual department or a process
True

Q. From the given options, what are the examples of deferred revenue
expenditure?
Initial advertisement expenditure. Research & development expenditure.

Q. Where the daily time sheet method of time booking may be

conveniently used
Where the worker works of various jobs of duration.

Q. Casting
Casting refers to the totaling of books of accounts.

Q. Accrued income
This indicates the amount of income for the current period which is not received
during it

Q. Question:- Match the following

Labour turnover:- Employees leaving the organization and new workers are
being recruited
Preventive cost:- The costs incurred for recruitment & training of new workers &
the resulting losses, wastages and reduced productivity due to the inefficiency
and inexperience of new workers
Replacement cost:- the cost of personnel administration – to maintain good
relation with the workers
Non-monetary incentives:- Loans at reduced rate of interest

Q. There can be a number of methods for absorbing the overheads but

the ultimate selection of method has to be made after considering
various factors . From the given options select such a factor to be
considered.
the like type of industry, nature of products

Q. For which of the following purpose, control ledgers can be

maintained in practical circumstances.
Advances to staff, sundry debtors.

Q. Cash book records these transactions

Cash receipts; cash payments;
Q. There are some fixed rules & principle for deciding the number and
size of cost centers.
False

Q. Standard may not be necessarily useful for this purpose.

Forecasting
Standard costing and budgetary control_are the best possible tools available to
the management tor the purposeof controlling the costs. Both the techniques
involve the process of setting the targets or standards, measurement of actual
performance, comparison of actual performance with targets or standard set,
computation and analysis of variations and the attempts to maintain favorable
variations and remove unfavorable variations.

Q. The ………… Note stands for an intimation sent to the supplier at the
time of returning the goods which informs the supplier that his account
is being debited on account of goods returned to him.
Debit

Q. For the apportionment of power cost, Kwh/HP rating would have

……….
be an ideal base

Q. In practical circumstances, control ledgers may be maintained for

the following categories:-
Sundry debtors , Sundry creditors , Advance to Staff
The criteria for selecting the final source of supply may depend upon the terms of
offer which can be compared in respect of price offered, quality, other terms (like
Sales Tax, Octroi, Freight etc.), terms of delivery, terms of payment, guarantee
offered by the supplier, goodwill of the supplier non-corporate organizations,
(which are not a legal entity separate from the owners).

Q. A budget manual:
document setting out the responsibilities of the persons engaged in and the forms
and procedures required for the budgetary control.

Q. in good wage payment stystem, workers should not be punished in

term …….. due to circumstances like machinery breakdown, power
failures etc.
reduced wages

Q. ………… involve the process of setting the targets or standards,

measurement of actual performance, comparison of actual performance
with targets or standard set, computation and analysis of variations and
the attempts to maintain favorable variations and remove unfavorable
variations.
Both the techniques, The budgetary control & Standard Costing

Q. With the process of primary apportionment or distribution, the

loading of overheads for all the departments i.e. production as well as
service departments can be obtained. What would be the next step?
to transfer the overheads of non-production departments to the production
departments,

Q. Budget period:
period of time for which the budget will be prepared and operated.
Q. Budget centre
Is that section of the organization with respect to which the budgets will be
prepared.

Q. As current conditions are likely to change, the current

standards are also subject to revision as per the changes in current conditions,

Q. Match the following

Stores Department:- Number of requisitions
Purchase Department:- number of purchase order
Internal transport:- Weight/value of goods moved
Personnel/Time keeping Department:- Number of employee

Q. How should be the standards fixed to measure the efficiency of a

worker in the organization.
Standard should be normal, which a normal worker in normal conditions can
attain.

Q. While balancing the ledger account, if the balance appers on the

credit side, the account will be considered to ________ balance
Debit

Q. Theses are not subject matter of financial accounting

Future events

Q. In the process of controlling the costs of operating the business.

Which steps are generally involved?
Measuring actual performance, Comparison of planned & actual performance.

Q. The final result disclosed by the Manufacturing Account is the ……..

Cost of Production

Q. The hand written method of time keeping is simple……..

has become outdated
Q. If similar transactions take place on the same day and the same
account is either debited or credited is same. Then transaction is
accounted journal entry.
by passing compound

Q. Form the given options, which consequences may overstocking of

materials have
Risk of deterioration of quality & obsolescence. Additional insurance cost.

Q. Complete the given sentence by selecting the appropriate answers

regarding the determination of actual cost, “The actual cost
information is available only after the completion of the job, process or
service and
Hence it has practical utility from control point of view; There no basic is
provided with which actual cost can be compared
Q. In case of the situations where there are more than one key factor,
what is the first thing to do necessarily
The importance of the key factors themselves will be assessed first

Q. Organizations, Which by themselves are separate legal entity, from

the owners are known as-
non-corporate organizations

Q. _______ is an intimation sent to the supplier at time of returning

goods informing that his account is debited on account of goods returned
to him.
Debit note

Q. The direct cost can be identified _______ and hence poses difficulties
to change.
With the individual cost center

Q. Compound entry means duplication of the entry, of the transaction

happened, in the journal book.
True/False

For More Details

Visit At – www.scdlassignmentshelpline.com
Mail us – admin@scdlassignmentshelpline.com