Applied Cost Accounting MCQs
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Q 1. The expenses incurred in extra work is
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Q 2. Example for cost plus contract
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Q 3. If the value of work certified equal to or more than 90% of contract price, profit to be credited is……………….
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Q 4. In which situation, 2/3 of national profit credited to P & L a/c
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Q 5. If the value of work certified less than 25% of contract price,profit to be credited to P&L is
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Q 6. Retention money is retained by whom ………………….
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Q 7. The cost of work that has been done by the contractor on the closing date of account, but has not reach stipulated stages to qualify certification of architect of contractee
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Q 8. When variable cost per unit increases break even point ……………….
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Q 9. During the recession period, the profits of a firm will decrease at a much slower rate whose P/V ratio is,
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Q 10. During the boom period, the profits of a firm will increase at a much faster rate whose P/V ratio is,
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