(C-Overhead adjustment account
D:-None of the above
Correct Answer: Option:
‘Question23::Which of the following statement is/are correct
(i) Cost indifferent point is the point at which cost line under two alternatives intersect each other

(il) Itis the point at which total cost line and total revenue line for a particular altemative intersects each other
(ii) kis the level of activity at which total cost under two altematives are equal

‘A-Only (i) and (i)
B-Only (i) and (ii)
C-Only (i) and (ii)

D:-All of the above

Correct Answer: Option-C

Question24:-In a process 10000 units are introduced during a period. 10% of input is normal loss. Closing work-in-process 70% complete is 1000 units. 8000 completed units are
transferred to next process, equivalent production for the period is

‘-9700 units
B:-9500 units
(8700 units
8500 units
Correct Answer:- Option-C
Question25:-In the context of Contract afc, work completed and not yet certified will be shown
[Act cost plus +2/3rd of the notional profi under ‘Completed Work’
B:-At cost plus national profit less retention money under "Completed Work’
‏دی فی‎ under ‘Completed Work’
DA cost under WIP ale
Correct Answer:- Option-D
Question26:-In reconciliations statements, closing stock undervalued in Financial accounts is
AcAdded to financial profit
B:-Deducted from financial profit
യര്‍
D-Added to costing profit
Correct Answer:- Option-é
Question27:-Which of the following statement is/are correct?
(i) Contract costing is a special type of job costing
0) eis also known as terminal costing
(i) The contract itselt is @ profit centre and is executed under the contractor's specifications
‘Ac Only (i) and (i)
B:-Only (i) and (ii)
C-Only (il) and (il)
D-All of the above
Correct Answer:- Option-é
Question28:-The methodology that focuses on removing waste or any item that does not provides value to the customer from the manufacturing system is
‘AcJustin-Time ٤0
B:-Cross-Docking
C-ABC Analysis
D-Lean Manufacturing
Correct Answer:- Option-D
Question29:-Sunk costs are:
‘Ac Relevant for decision making
B:-Not relevant for decision making
CCost to be incurred in future
D-Future costs
Correct Answer:- Option ®

‘Question30:-Economic order quantity is that quantity at which cost of holding and carrying inventory is: