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Applied Cost Accounting MCQs: 181 Questions & Answers in Faculty

181 Applied Cost Accounting MCQs in Faculty with answers & explanations. Page 3. Practice objective questions for competitive exams, interviews & self-assess… Use the answer toggle below to show or hide all solutions, tap an option to check one question, or open a question for its own page.

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Applied Cost Accounting MCQs: 181 Questions & Answers in Faculty

Marginal costing is a…………of costing

Marginal costing is the aggregate of …………plus variable overheads

………… is based on the distinction between fixed and variable cost

Joint costs are allocated according to…………value of individual products under the market value method

The main product is usually produced in greater quantities than the

The product has generally…………over the relative quantities of byproducts and the main products

………… is the point of production at which separate products are identified

The cost incurred up to the point of separation are called …………cost

………… costs relate to processes and incurred after split off points

The most important criterion for distinguishing between scrap, byproduct and joint product is…………of the products

Cost of one process may be transferred to the next process at

Cost of ………… is not included in the cost of the process

In ………… costing no distinction is made between direct and indirect materials

The finished product of last process is transferred to ……………… a/c

In ………… costing separate account “ process A/C ” is kept for each process

Abnormal gain =…………..

Milk, butter cream, etc obtained in is example of

A portion of main contract entrusted to some one else

Work in the process of completion

Profit on incomplete contract is known as ,………..

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