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Q. When actual loss is less than the expected (normal) loss there is:

Q. Abnormal loss comes with:

Q. Job costing is used when a business entity carries out tasks or jobs to meet specific customer orders.

Q. Job costing is a costing method applied where work is undertaken to customers’ special requirements and each order is of comparatively short duration.

Q. The sum of value of work certified and uncertified appearing in the Contract Account is called ……………..

Q. Joint products are two or more products generated simultaneously, by a single manufacturing process using common input, and being substantially equal in value.

Q. Profit remaining as reserve is :

Q. A computerised job accounting system contain which of the following features:

Q. The relative sales value method is the most widely used method of apportioning joint costs because (ignoring the effect of further processing costs) it assumes that all products achieve the same profit margin.

Q. The wages paid to maintenance department workers who do repair work principally for production departments but also on the vehicles in the distribution department should be charged as