Definition of Accountant Accountants are employed by businesses and other organizations to report their financial results according to generally accepted accounting principles (GAAP) and income tax regulations. eval(ez_write_tag([[336,280],'googlesir_com-medrectangle-3','ezslot_0',105,'0','0']));Q.2. Direct TAX MCQ . The difference between "cost accounting" and "financial accounting are terms refer to the accounting techniques used internally by a company's management to determine the costs of running the business and help in decision making. eval(ez_write_tag([[250,250],'googlesir_com-medrectangle-4','ezslot_2',101,'0','0']));eval(ez_write_tag([[250,250],'googlesir_com-medrectangle-4','ezslot_3',101,'0','1']));Q.4. What are the Advantages of Cost Accounting? Answer – It is the technique to charge all fixed and variable expenses pertaining to product, process or job. SAT (Scholastic Aptitude Test) Sentence Correction, OOAD (Object Oriented Analysis and Design). b) Cost and Management Accounting. However, it is common for gross wages… Read More. 1.14 Self Assessment Questions 1.15 Reference Books 1.0 Objectives After completing this unit, you will be able to: To assertion and control cost. External stakeholders are those who have a vested financial interest in a business or company. Helpful in decision making and policy farming. Download PDF. Answer – Cost means the amount of expenditure incurred upon manufacturing of an article or providing any service. Cost sheet consists of the direct and indirect expenses incurred in producing a given product and classifying the expenses incurred according to office, administration, selling and distribution overheads.
Measurement of the efficiency of the sales department and salesman. Useless in the determination of selling price because selling price or not based upon cost in this competitive era. It is an expensive as it required the employment of cost accountant and ancillary staff. Statutory Deductions MCQ . Q.10. Not suitable for small industries, agricultural areas etc. Facilitating preparation of financial and other statements. What are the Disadvantages of Cost Accounting? Give different Techniques of Costing? Internal stakeholders are the business or company directors, managers, division heads, etc. Stepped cost Supervisors’ salaries Answer 1. WWW.COMMERCEPK.COM http://www.commercepk.com/mcqs-complete-solved-multiple-choice-question-with-answer-key/ Cost and Management Accounting-615A Sometimes gross wages is used to describe the amounts earned by hourly-paid employees. Q&A Archive (1,114) What is net sales? Related: 18 Characteristics of Entrepreneurial Behaviour (Explained). Banking MCQ . What do you understand by Costing? This can be described as the process of accumulating, measuring, analyzing, interpreting and reporting cost information that is both useful and relevant to the internal and external stakeholders of a business entity. Today a successful accounting clerk needs to be proficient… Read More. The level of activity at which total revenues equal total costs. Learn and improve your skills at our online platform for free AccountingCoaching.
Definition of Stock Split A stock split usually refers to a corporation dividing its existing number of shares of common stock into a greater number of shares. What is the opportunity cost or define opportunity cost? What is the difference between Cost Unit and Cost Centre?eval(ez_write_tag([[580,400],'googlesir_com-large-mobile-banner-1','ezslot_4',108,'0','0'])); Answer – Cost unit is a unit of quantity of product, service in relation to cost ascertainment while cost center is related to the particular department, location, person or item of equipment etc.
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