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Q. When cash ratio is …….. retention money is 13%.

Q. In a costing system, a job account is similar to a work in progress account, except that it is for one job only. In a company that specialises in jobbing work, the work in progress account is the total of all the individual job accounts.

Q. When there is closing work in progress (WIP) the concept of _________ is used.

Q. Normal loss is usually expressed as a percentage of the input units of materials.

Q. . Which of the following is a conventional method of ascertaining cost?

Q. The over-absorbed overhead is accounted for as an adjustment to the profit in the period, and is added to profit in the cost accounting income statement.

Q. Non-production overheads might be added to the cost of the job:

Q. . The total amount of factory overhead represents:

Q. A job is a cost unit which consists of a single order or contract.

Q. If normal loss has a scrap value the company is able to recover some of the input costs to the process. The scrap value reduces the cost of the process.