ACC206

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

B. Financial or accounting ratios can mainly be classified into four, they are___________

C. From a/an _____ point of view, cost is the amount of money that is spent to produce a good or a product

D.  ________ 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.

E. CIMA refers to …..... as a location, person or item of equipment (or group of these) for which costs may be ascertained and used for the purpose of cost control

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

G. ……. ........is the term used to describe a management philosophy based on the continuous improvement of quality

H. ________ is an expense which contains both a fixed-cost component and a variable-cost component

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

J. ________ 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.

K. The following are examples of variable cost except ______

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

M. _________ variable costs are those variable costs which are directly related to the production or sales level

N. ____ is the monetary outlay for producing a certain good

O. ___________ is all labour expended and directly involved in altering the condition, composition or construction of the product

P.  ______ is the cost of searching for new or improved products, new application of materials, or new or improved methods.

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

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

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

T. ________ is the cost of selling to create and stimulate demand (sometimes termed as marketing) and of securing orders.

U.  _________ are cost which cannot be influenced by the action of a specified member of an undertaking

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

W. CIMA defines __________  as a cost which can be influenced by the action of specified member of an undertaking

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

Y. ________ measures the extent to which fixed interest liabilities relate to the equity

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

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

AB. Which ratio is calculated as shareholders’ funds/tangible assets?

AC. _______ cost are costs which are a part of the cost of a product rather than an expense of the period in which they are incurred

AD. The scope of ….....…..embraces activities of the entire company, from production to marketing and at all levels within the organization from the operative to top levels

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

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

AG. Stock / inventory turnover ratio is calculated as _________

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

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

AJ.  ________ is the cost of selling to create and stimulate demand (sometimes termed as marketing) and of securing orders.

AK. The following are some essentials of an ideal cost accounting system except ________

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

AM. ______________ may be viewed as a cost reduction technique

AN. ________ measures the extent to which fixed interest liabilities relate to the equity

AO. The setting of pre-determined level of costs to be compared with actual gives room for basic tools to be employed in cost control. They are________

AP. _________ is the cost of formulating the policy, directing the organization and controlling the operations of an undertaking which is not related directly to a production, selling, distribution, research or development activity or function

AQ. Production overheads refer to __________.

AR. ........................ is the lowest level of stock that is established by management

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

AT. ............... is the term used to describe a management philosophy based on the continuous improvement of quality

AU. ___________ is a plan for a future period. It is expressed in monetary terms.

AV. ________ enable the management in knowing the operating efficiency of a business.

AW. _______ 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.

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