Sikkim-Manipal University of Health Medical and Technological Sciences (SMUHMTS) 2007 M.B.A Financial and Management Accounting - exam paper

c. all d none

Q69 .The standard of material include
a. material volume b. material price
c. none d. all(a&B)

Q70.Objectives of budgetary control are
a. planning the policy b. coordinating activities
c. controlling cost d. all

Q71.work cost is also known as
A. flat cost b. manufacturing cost c. total cost d. cost of prodoction
Q72. prime cost is also known as
A. direct cost b. 1st cost
c. flat cost d. all

Q73. Total of work cost &office overhead are known as
a. manufacturing cost b. direct cost
c. cost of production d .none

Q74.In a cost sheet stock of finished goods is adjusted at the stage of
a. prime cost b. works cost
c. cost of production d. none

Q75. In cost sheet realisable value of scrap is deducted from
a. direct cost b. works cost
c. cost of production d. none

Q76.In a cost sheet stock of work in progressis adjusted at the stage of
a. direct cost b. works cost
c. cost of production d. none

Q77.If profit is 25% of cost ,it will be------% of sales
a. 20% b 15%
c 30% d. none

Q78.If profit is 50% of cost ,it will be ____%of cost
a. 100% b. 75%
c. 60% d. none

Q79.cost price Rs 18,000,33 ½ .profit on selling price amount of profit will be
a. Rs 6000 b. 9000
c. 4500 d none

Q80.Total sales are Rs 5,00,000, 25%. Profit on cost .Total profit would be
a. Rs 1,00,000 b. 1,25,000
c. 1,50,000 d. Rs 1,66,670

Q81. If prime cost Rs 16,000 factory overheads 25% of prime cost &office overheads 75% of factory overheads, office cost would be
a. Rs 3000 b. 15,000
c. 23,000 d. none

Q82. If prime cost Rs 24000, office cost,Rs 30,000,office overheads 50% of office overheads , factory cost would be
a. Rs 3000 b. 27,000
c. 26,000 d. 28,000

Q83.If prime cost Rs 18,000 , factory cost Rs 21,600 , factory overhead 45%, of direct wages, the amount of direct material would be.
a. Rs 8000 b. 4,800
c. 10,000 d. none

Q84. If opening balance of material Rs 6000, closing balancers 45,0007 value of material used Rs 75,000, amount of material purchased would be
a. Rs 60,000 b. 90,000
c.30,000 d.none

Q85.If units produced during the month are 10,000 (out of which 2,000 units were un sold) cost of production is Rs 62,000 & selling expenses per unit is Rs 1.80 ,cost of sales would be
a. Rs 64,000 b. 67,600
c.92,400 d. none

Q86. cost accounting is
a. part of managerial accounting b.part of financial accounting
c. part of responsibility accounting d.none

Q87.Ascertainment of cost with the help of true expenses incurred in termed as
a. Historical costing b. standard costing
c. marginal costing d. absorption costing

Q88.An examples of variable cost
a. Rent,rates,& taxes b. Interest on capital
c. Direct material cost d. Depreciation on machinery

Q89.variable cost are such costs which
a. per unit remains the fixed b. per unit does not remain constant
c. Do not vary with variation in output d. none

Q90.Which of the subsequent is factory overheads
a. salary b. drawing office expenses
c. legal expenses d. none

Q91.Which of the subsequent items is not included in cost accounts
a. Rent of warehouse b. share transport fee
c. office rent d. depreciation on furniture

Q92. Advantages of budgetary control
a. ensure effective use of resources b. sets up standard costing
c. Increase employee productivity d. all

Q93. contribution can be represented as follows
a. contribution=selling price-variable cost

b. contribution = fixed cost + profit /loss
c. contribution= p/v ratio*sales d. all

Q94. Sub fields of accounts are
a. book keeping &financial accounting b. cost &management accounting
c. social responsibility accounting d. all

Q95.It is arrived at by the deducting the direct cost of goods sold from sales proceeds
a. gross profit b. net profit
c. all d. none

Q96.Example of current asset is
a. building b. machinery
c. stock d. creditors

Q97.Wages paid for installitation of machinery is debited to wages a/c instead of machinery this is an erroe of
a. principal b. omission
c. commission d. compensation

Q98.If the total of the debit side of an account is greater than credit side the balance of such a/c is
a. Debit balance b. credit balance
c. no balance d. none

Q99.The evaluation principle of assets & liabilities depend on
a. matching concept b. realization concept
c. cost concept d. going concern concept

Q100.Capital is a ____________for business.
a. assets b. liabilities
c.expenses d.none.

Earning:   Approval pending.