Costing MCQs

Break-even point is also known as . . . . . . . . point.

Tender price expresses-

An automobile service unit uses . . . . . . . . costing.

. . . . . . . . is the excess of overheads absorbed over the actual amount of overheads incurred.

Economic capacity of a plant represents its:

Unsuccessful research expenditure should be . . . . . . . . cost accounts.

'EOQ' is used in:

Match the following. List-I List-II a. Debtor's turnover ratio 1. Solvency ratio b. Proprietary ratio 2. Liquidity ratio c. Operating ratio 3. Activity ratio d. Acid test ratio 4. Profitability ratio

Match the items of List-I with the items of List-II and indicate the correct answer. List-I List-II a. Absolute cost advantage theory 1. The empirical evidence based on US export of labour-intensive goods challenging the factor endowment theory. b. Comparative cost advantage theory 2. A country with a direct cost advantage in the production of a product on account of greater efficiency. c. Factor endowment theory 3. A country should produce and export a commodity that primarily involves a factor of production in abundance within the country. d. Leontief paradox 4. A country should specialize in the production and export of a commodity in which it possesses the greatest relative advantage.