Sikkim-Manipal University of Health Medical and Technological Sciences (SMUHMTS) 2007 M.B.A Finance

e. Loan Account is a Real Account
f. Postage and Telegram Account is a Nominal Account
g. Interest on Investment Account is a Nominal Account
h. Carriage on Goods Account is a Real Account
i. The giver of a benefit must be debited.
j. Nominal Accounts fall in the category of impersonal accounts.
k. Every debit has an equal and corresponding credit.










Financial Accounting
1. A cost sheet indicates the total cost of _______ only.
a. Purchase b. Production
c. Sales d. All of above

2. PRIME Cost + Factory overhead =?
a. Factory Cost b. Production Cost
c. Selling & Distribution d. Total Cost

3. A Cost Sheet with sales & profit data are called _________ .
a. Expert Cost Sheet b. Extended Cost Sheet
c. Cost Sheet production d. None of above

4. _________ refers to the cost of materials, which become a major part of the finished product.
a. Direct labour cost b. Direct expense cost
c. Direct material cost d. All of above

5. Sunk cost is relevant cost.
a. actual b. False

6. Depreciation is a kind of which cost.
a. Non-cash cost b. Incremental cost
c. Sunk cost d. Imputed cost

7. Opportunity cost is also known as opportunity lost.
a. actual b. False

8. A cost, which can be influenced by the action of a specified number of an undertaking, is called.
a. Controllable cost b. Non-Controllable cost
c. Incremental d. Decremental cost

9. Match the subsequent figures with their accurate cost.
(I)





(i) (ii)








(iii) (iv)



(II)
(i) Fixed cost (ii) Variable cost
(iii) Step cost (iv) Total cost

10. Wages & Salaries of storekeepers are Indirect labours.
a. actual b. False

11. Match the subsequent kind of cost under their accurate heading.

(i. Direct wages (i) Seeling & Distribution exp
(ii). Depreciation on building (ii) Direct labour
(iii). Office rent (iii) Factory expenses

Earning:   Approval pending.