Cost accounting is the reporting and analysis of a ______ structure in a company.
Cost accounting helps in determining only the profit of the company.
Which of the following is the basic objective of cost accounting?
Overhead cost is the total of all the ______ costs.
Cost accounting was developed because of the limitations of the ________.
Double entry accounting
Human resource accounting
________ is a technique of using two or more costing methods for ascertainment of cost by the same firm.
Wages paid to labor who engaged in production activities are termed as _______ cost.
Cost accounting does not show the current stature of the company.
Classification of cost is useful in identifying _________.
If Cost accounting gets deviated, the chances of fraud can be detected.
Contract costing or Terminal costing is a variant of __________ Costing.
The cost of the product as determined under the standard cost system is ________ cost.
Selling and distribution expenses can be charged under __________ cost.
Fixed assets ratio is a __________ solvency ratio.
This ratio measures the profit concerning capital employed.
Return on investment
Gross profit ratio
Over absorption of overheads in Costing will affect Profit as per ________.
Less profit in Cost Account
More Profit in Financial Account
Interest on overdraft is less than net profit as per __________.
Notional Cost decreases __________profit.
The wage sheet is prepared by the Cost accounting department.
Is cost accounting a profession?
Yes, of course
No, it's a part of financial accounting
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