No Calculation (II)

Q1) Which correct relate to business objective?
(I) the short- term objective of an organisation are described in very general terms
(II) Corporate objectives relate to the organisation as a whole.
(III it is possible for a division of an organisation o have its own specific objectives

A.)I & II B.) I & III C.) II & III D. )I, II, III

Q2) which of the following are characteristics of contract costing?
I. work is often undertaken on the customer ‘s premises.
II. work is often constructional in nature.

A) I B) II C) I & II

Q3) in which situation will job costing normally be used?
I) Production is continuous
II) Production of the product can be completed in a single accounting period.
III) Production relates to a single special order.
A. I & II B. II & III C. I& III

Q4) which of the following is cost objects?
I) a pint of milk produced by a dairy
II) a call taken at a call centre
III) one of a bank ‘s business customer

A. I & II
B. II & III
C. all of them

Q5) which one about fixed budget is correct?
I. a budget which is most generally used for planning purposes.
II. a budget for a single level of activity.
III. a budget for fixed costs.
A. I only B. I & II C. all

Q6) join products :-
I. the incidental product produced as a result of a process.
II. not saleable at the point of separation and must always be processed further.
III. one of two or more products separated during prles processing, each having a significant sales value.
Which correct? A) I I I only B) I & I I I C) I I & I I I

Q7) which one not an essential quality of goods information?
A. Predictive value B. Completeness in accuracy C. timely D. relevance

Q8) Management accounting is guided by GAAP in presentation. True or False ?

Q9)Controllable costs are cost within the authority of all levels of management. True or false?

Q10) over or under absorption of overheads is the difference between :=
A. Actual overhead incurred and overhead absorbed.
B. Budget overhead and overhead absorbed.

Thanks Mr John. I know a lot question will make you tired. Sorry for any inconvenienced cause. I sit exam next week, so i hope can settle all question before exam.