Related Posts

Q. In some cases, a company might have to pay to dispose of losses in a process. The cost of disposal represents an additional cost to the process. To reflect this in the process account the normal loss is measured at zero but the expected costs of disposal are debited to the process account.

Q. A contract is generally of ………………..duration.

Q. A product with a high gross profit could be an unprofitable product.

Q. Which of the following statement is correct?

Q. Indirect expenses are also known as overheads.

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. In job costing each job is given a unique:

Q. The normal loss is something that is unavoidable in order to get the good output. The cost of the lost units is part of the cost of obtaining the good output.

Q. A cost that changes in total dollar amount with the change in the level of activity is known as:

Q. Normal loss comes with: