ATTENTION:
Kindly note that you will be presented with 50 questions randomized from the NOUN question bank. Make sure to take the quiz multiple times so you can get familiar with the questions and answers, as new questions are randomized in each attempt.
Good luck!
ACC206
1 / 50
A. ________ is the amount of time it takes for the material to be delivered from the supplier after an order has been placed.
2 / 50
B. The point at which neither profit nor loss is made is known as the ________
3 / 50
C. _______ variable costs are those variable costs which are directly related to the production or sales level
4 / 50
D. Discretionary fixed cost is also known as managed or _________ cost
5 / 50
E. Management is able to know deviations in performance through ________
6 / 50
F. Expenses which are not capable of direct allocation are _________
7 / 50
G. The following are methods of valuing stock except _________
8 / 50
H. How is interest cover calculated?
9 / 50
I. The costs that can be easily identified with a department, process or product are termed as ________
10 / 50
J. ……. ........is the term used to describe a management philosophy based on the continuous improvement of quality
11 / 50
K. ________ cost center is one which consists of a department, a plant or an item of equipment
12 / 50
L. Management accounting is concerned with forecasting. These forecasting may be related to the following except ______
13 / 50
M. __________ indicates the number of times fixed dividend is covered by profit.
14 / 50
N. The following are classifications of overhead except _______
15 / 50
O. ______ is the cost of searching for new or improved products, new application of materials, or new or improved methods.
16 / 50
P. _________= Re-order level (Average usage X Average delivery period)
17 / 50
Q. Quotes, fixed fee jobs, revenues, items, direct costs and standard costs are the fundamental components of ………….
18 / 50
R. _________ is the cost of sequence of operations which begins with supplying materials, labor and services and ends with the primary packing of the product.
19 / 50
S. _______ is the cost of producing an extra unit
20 / 50
T. A _____ cost is a predetermined calculation of how much costs should be under specific working conditions
21 / 50
U. Cost control forms part of the ………….. of cost accounting
22 / 50
V. What is this formula used to calculate: Actual qty (std price – actual price)?
23 / 50
W. _________= Re-order level (Average usage X Average delivery period)
24 / 50
X. Cost accounting assists with management functioning while management accounting is concerned with management_________
25 / 50
Y. _______ are costs which depend on the output produced
26 / 50
Z. __________ are those which are engaged sometimes on productive and other times on service works
27 / 50
AA. The following are examples of variable cost except ______
28 / 50
AB. _______ refers to those costs which may be regulated at a specified level of authority (management) within a specified time period.
29 / 50
AC. ________ is the amount of time it takes for the material to be delivered from the supplier after an order has been placed.
30 / 50
AD. Discretionary fixed cost is also known as managed or _________ cost
31 / 50
AE. ...………is the process of tracking the expenses incurred on a job against the revenue produced by that job
32 / 50
AF. ___________ is a plan for a future period. It is expressed in monetary terms.
33 / 50
AG. ________ is used to assess whether the benefits and revenues of a proposed business will more than cover the costs.
34 / 50
AH. ________ is 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.
35 / 50
AI. Cost accounts provide the value of closing stock at frequent intervals by adopting a ________ system.
36 / 50
AJ. The following are classifications of overhead except _______
37 / 50
AK. ______________ may be viewed as a cost reduction technique
38 / 50
AL. _________are the costs which are not associated with production but are treated as expenses of the period in which they occurred
39 / 50
AM. ________ 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.
40 / 50
AN. The following are classifications of overhead except _______
41 / 50
AO. The following are examples of fixed cost except _______
42 / 50
AP. __________ is a measure of the relationship between the current assets and current liabilities.
43 / 50
AQ. Management accounting is specifically a ________ function.
44 / 50
AR. The following are methods of valuing stock except __________
45 / 50
AS. ________ is the midway between the minimum stock level and the maximum stock level.
46 / 50
AT. _________ variable costs are those variable costs which are directly related to the production or sales level
47 / 50
AU. The following are materials that can be referred to as stock except _______
48 / 50
AV. ……….. ….is an additional stock held by an organization over and above the minimum stock
49 / 50
AW. Cost is an amount that is recorded as a/an ________in bookkeeping records.
50 / 50
AX. Stock / inventory turnover ratio is calculated as _________
Restart quiz
Rate this quiz
