ACC206

A. Current ratio is calculated as _____

B. Gearing ratio is calculated as follows_________

C. …………are those costs which depend on or vary according to the output produced

D. Basically the scope of cost accounting is divided into ………… major parts

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

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

G. Material variance is mainly classified into ________

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

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

J. _______ of each organization affects rules and regulation of applying management accounting.

K. The aim of __________ is to reduce inventory levels and its attendant costs.

L.  _______ 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.

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

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

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

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

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

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

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

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

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

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

W. ________ fixed costs are those which are set at fixed amount for specific time periods by the management in budgeting process

X. __________.represent an old established standard designed principally to satisfy a given objective

Y. In some circumstances, variable costs are classified into …………. (Discretionary cost and engineered cost)

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

AA. Contribution is the excess of sale value over ___________

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

AC.  The following are methods of valuing stock except _________

AD.  _______ indicates what percentage of sales is generated as operating profit

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

AF. The following are examples of fixed cost except _______

AG. 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________

AH. _______ 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.

AI. __________  are those which are engaged sometimes on productive and other times on service works

AJ. Management is able to know deviations in performance through ________

AK.  ________ means expressing the plans, policies and goals of the firm for a definite period in future

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

AM. ______________ is actually working backwards to find out the target cost, which a firm would be able to achieve

AN. The following are classifications of overhead except _______

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

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

AQ.  _______ indicates what percentage of sales is generated as operating profit

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

AS. A department, plant or an item of equipment can make up a cost centre referred to as ________

AT. _________= Re-order level (Average usage X Average delivery period)

AU. The following are examples of variable cost except _________

AV. The three elements of cost are material, labour and ________

AW.  ________ are those expenses/expenditures that are actually paid by the firm

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