Costing MCQs

Which of the following affects the flow of funds?

Cost accounting is based on-

Which of the following statement is true? Statement 1: Financial statements are prepared on the basis of accounting principles. Statement 2: Any changes in accounting principles or method will affect the utility of the financial statements.

The formula for net cash inflow of a project is

Under step method of re-apportionment of costs of service departments, the cost of last service department is apportioned only to the . . . . . . . .

Profit for the objective of calculating a ratio may be taken as

. . . . . . . . expenses are partly fixed and partly variable.

In an activity based cost system, an activity/unit of work or task with differentiated purpose will be classified as

Factory cost is also known as the name of . . . . . . . . .