ACC206

A. __________ indicates the number of times fixed dividend is covered by profit.

B. ________ is the midway between the minimum stock level and the maximum stock level.

C.  The following are methods of valuing stock except _________

D. A ___________ is a predetermined calculation of how much costs should be under specified working conditions

E.  Discretionary fixed cost is also known as managed or _________ cost

F. Cost accounting assists with management functioning while management accounting is concerned with management_________

G. The costs that can be easily identified with a department, process or product are termed as ________

H. Quotes, fixed fee jobs, revenues, items, direct costs and standard costs are the fundamental components of ………….

I. _________ is the monetary value that a company has spent in order to produce something.

J. Cost accounts provide the value of closing stock at frequent intervals by adopting a ________ system.

K. A planned positive action aimed at reducing costs of products or services without adversely affecting their quality or usability is called __________

L. _________ ratio are used to determine the ability of a firm to meet its current obligations.

M. ……….. ….is an additional stock held by an organization over and above the minimum stock

N.  _______ refers to those costs which may be regulated at a specified level of authority (management) within a specified time period.

O. _______ is the part of development cost incurred in making a trial production as preliminary to formal production is called pre-production cost.

P. ...………is the process of assigning overhead costs to products or services produced

Q. _________ are cost of formulating policy, directing and controlling operations not related directly to production, selling, distribution or research and development.

R.  _________ are cost of formulating policy, directing and controlling operations not related directly to production, selling, distribution or research and development.

S. ______________ may be viewed as a cost reduction technique

T.  ________ ratio indicates the financial plan of the entity and shows if the entity is financed more by debt or by equity

U. ________ are those costs which will be eliminated if a segment of a business with which they are directly related is discontinued

V. __________ indicates the number of times fixed dividend is covered by profit.

W. The following are classifications of overhead except _______

X. ________ indicates the amount of the net profit after tax attributable to each ordinary share issued

Y. ________ is cost of process which begins with the implementation of the decision to produce a new or improved product or employ a new or improved method and ends with the commencement of formal production of that product or by the method.

Z. The following are some of the decisions based on costing except _________

AA.  _______ are costs of seeking new ideas, materials, methods of production and improved products and the development and design of such ideas so that they can be applied to formal production.

AB. The costs that can be easily identified with a department, process or product are termed as ______

AC.  _______ is the part of development cost incurred in making a trial production as preliminary to formal production is called pre-production cost.

AD.  ________ is the level of inventory where it becomes necessary to place order for new supply

AE. ________ are those business costs which do not involve any cash payments but a provision is made in the books of accounts

AF. ___________ are expenses can be directly and wholly allocated to a particular product, job or service

AG. Contribution is the excess of sale value over ___________

AH.  ___________ are used to ascertain the long-term financial performance of a company

AI.  Accounting ratio serves as a means of________ financial information.

AJ. __________ is a measure of the relationship between the current assets and current liabilities.

AK. The following are materials that can be referred to as stock except _______

AL. ________ is the measurement of the cost and value of people for the organization

AM.  ________ indicates the amount of the net profit after tax attributable to each ordinary share issued

AN. Items of expenses which are capable of being charged directly to the products manufactured are _________

AO. The four basic types of standard are __________

AP. The basic variances can be categorized under four major headings as ________

AQ.  _______ is a system where income is measured by the value added by a firm in a particular period

AR. ________ measures the efficiency of the firm in utilization of capital employed to generate income.

AS.  ________ is cost of process which begins with the implementation of the decision to produce a new or improved product or employ a new or improved method and ends with the commencement of formal production of that product or by the method.

AT.  ________ is the level of inventory at which it becomes necessary to place order for new supply

AU. _______ variable costs are those variable costs which are directly related to the production or sales level

AV.  _______ are the costs which do not vary with changing output

AW. ________ is the cost of sequence of operations beginning with making the packed product available for dispatch and ending with making the reconditioned returned empty package, if any, available for reuse.

AX.  Expenses which are not capable of direct allocation are _________