Tag: Economics Mcqs With Answers

(A) (Time saved/time allowed) x 100
(B) (Time allowed/time saved) x 100
(C) (Actual time taken/time allowed) x 100
(D) (Time allowed/actual time taken) x 100

(A) The variable cost of one unit of product or service
(B) A principle whereby variable costs are charged to cost units and the fixed costs attributable to the relevant period are written-off in full against the contribution for that period
(C) Costs appropriate to aiding the making of specific management decisions
(D) The price at which material identical to that which is used up could be replaced on the date of usage

(A) All costs are classified into two groups – variable and fixed
(B) Variable costs form part of the product cost and inventory valuation
(C) Fixed costs are treated as period costs
(D) All of the above

(A) Charging to expense
(B) Charging to stores
(C) Capitalizing in a small tools account
(D) All of the above

(A) Part of prime cost
(B) Part of production overheads
(C) Part of distribution overheads
(D) Written-off to costing profit and loss account

(A) Part of prime cost
(B) Part of production overheads
(C) Part of selling and distribution overheads
(D) Written-off to costing and profit and loss account

(A) Maintaining present competitive position
(B) Improving enterprise‘s competitive position
(C) Exploring now market/products
(D) All of the above

(A) Cash cost
(B) Cash cost
(C) Sunk cost
(D) Part of prime cost