COST ACCOUNTING AND COST MANAGEMENT
Easy
1. Refers to the income or benefit sacrificed or foregone when an alternative is selected
over another [A] avoidable cost [B] postponable cost [C] out-of-pocket cost [D]
oppor
...
COST ACCOUNTING AND COST MANAGEMENT
Easy
1. Refers to the income or benefit sacrificed or foregone when an alternative is selected
over another [A] avoidable cost [B] postponable cost [C] out-of-pocket cost [D]
opportunity cost.
2. The following are the functions of controllership, except: [A] reporting and
interpreting decisions made by management [B] planning and control [C]tax
administration and compliance with all the requirements of governmental regulatory
bodies [D] protection of assets.
3. The collection, presentation and analysis of cost data should serve the following
essential uses or aims, except: [A] planning profit by means of budgets [B] controlling
costs via responsibility accounting [C] assisting in establishing selling prices and a
pricing policy [D] furnishing relevant cost data for evaluation of decisions made
by management.
4. The following are examples of variable cost, which one is the exception: [A] sales
commission [B] depreciation [C] royalties [D] overtime premiums.
5. The following are examples of factory overhead, which is not included: [A] overtime
premiums [B] cost of spoilage and rework not chargeable to a particular job [C] power
used in machine operation [D] all of the choices are considered factory overhead.
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