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Q. Inventory turnover ratio = Cost of inventory consumed during theperiod ÷ Cost of ....................................................held during the period

Q. Sales Rs. 50,000; Variable cost Rs. 30,000; Net profit Rs. 6,000; fixed cost is .

Q. 1f` fixed costs decrease while variable cost per unit remains constant, the new B.E.P in relation to the old B.E.P will be .

Q. The budget prepared to estimate expenditure to be incurred to sell the product and its distribution is .

Q. When actual loss is................than the estimated loss, the difference between the two is considered to be abnormal gain

Q. The budget prepared for replacement of assets, expansion of production facilities, adoption of new technologies etc. is .

Q. …….is a budget which is updated continuously by adding a further period (a month/quarter) and deducting a corresponding earlierperiod.

Q. A bill of material is prepared in case of a................................. job

Q. Long-term budgets are prepared for .

Q. When actual loss is..........................than the estimated loss, the difference between the two is considered to be abnormal loss.