Business

[GROUP - II]

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SCANNER [SEC-II] n COST AND MANAGEMENT ACCOUNTING

COST AND MANAGEMENT ACCOUNTING

BASIC ASPECTS OF COST ACCOUNTING

Objectives -Type Questions :

Q1. State whether the following statements are True (T) or False (F) : The relationship of value, function and cost can be expressed as Cost = Value/Function. [Ref : Q1. (b)(iv), June ’07 / Paper-8] 1

Descriptive & Practical Questions :

Q1. State the distinguishing features of standard cost. [Ref : Q5. (a), Dec ’07 / Paper-8] 5

MATERIALS

Objectives -Type Questions :

Q1. State whether the following statements are True (T) or False (F) : ABC analysis is made on the basis of unit prices of materials. [Ref : Q1. (b)(iii), June ’09 / Paper-8] 1 Q2. Choose the correct answer from the brackets : The annual demand of a certain component bought from the market is 1,000 units. The cost of placing an order is Rs. 60 and the carrying cost per unit is Rs. 3 p.a. The Economic Order Quantity for the item is ___________ . (200, 400, 600) [Ref : Q1. (c)(i), June ’09 / Paper-8] 1 Q3. Choose the correct answer from the brackets : In a company there were 1200 employees on the rolls at the beginning of a year and 1180 at the end, during the year 120 persons left and 96 replacements were made, the rate of labour turnover according to flux method is ___________ . (5.04, 4.03, 9.08) [Ref : Q1. (c)(iv), June ’09 / Paper-8] 1

Descriptive & Practical Questions :

Q1. Write short note on JIT. [Ref : Q8. (a), Dec ’08 / Paper-8] 3

SCANNER [SEC-II] n COST AND MANAGEMENT ACCOUNTING

255

LABOUR

Objective -Type Questions :

Q1. State whether the following statements are True (T) or False (F) : Time and motion study which is a function of the engineering department is useless for determination of wages. [Ref : Q1. (c)(ii), Dec. ’08 / Paper-8] 1 Q2. Choose the correct answer from the brackets : In a company there were 1200 employees on the rolls at the beginning of a year and 1180 at the end. During the year...