Costing MCQs

In ‘make or buy’ decision, it is profitable to buy from outside only when the supplier’s price is below the firm’s own ______________.

A budget which is prepared in a manner so as to give the budgeted cost for any level of activity is known as:

_________ is also known as working capital ratio.

___________ is a summary of all functional budgets in a capsule form.

_____________ is a detailed budget of cash receipts and cash expenditure incorporating both revenue and capital items.

Statutory cost audit are applicable only to:

"For the financial year ended as on March 31, 20XX the figures extracted from the balance sheet of Xerox Limited as under: Opening Stock Rs 29,000; Purchases Rs 2,42,000; Sales Rs 3,20,000; Gross Profit 25% of Sales. Stock Turnover Ratio will be" :-

If credit sales for the year is Rs 5,40,000 and Debtors at the end of year is Rs 90,000 the Average Collection Period will be

The summarized balance sheet of Rakesh udyog Limited shows the balances of previous and current year of provision for taxation Rs 50,000 and Rs 65,000. If taxed paid during the current year amounted to Rs 70,000 then amount charge from Profit and Loss Account will be: