A. Net Profit = Gross Profit – Administration and Other expenses
B. Net Profit = Gross Profit Administration expenses and Other expenses
C. Opening Stock Purchases – Closing Stock = Cost of Sales
D. Both
B. and
C. above
A. Direct cost
B. Cost Sheet
C. Budget
D. Marginal Costing.
A. 0.65
B. 0.35
C. 1.50
D. 5.29
A. Loss on sale of undertaking
B. Debts considered bad and written off
C. Liability arising from a breach of contract
D. Director’s remuneration
A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance
A. In Trading A/c
B. In Profit and Loss Appropriation A/c
C. Profit and Loss A/c
D. Being a non operating item ignored
A. Balance c/d
B. Balance b/d
C. Balance e/d
D. Balance f/c
A. Discount
B. Voucher
C. Allowance
D. Price
A. No change occurs to inventories for either use absorption costing or variable costing methods
B. The use of absorption costing produces a higher net income than the use of variable costing
C. The use of absorption costing produces a lower net income than the use of variable costing
D. The use of absorption costing causes inventory value to increase more than they would though the use of variable costing
A. Outstanding Salary A/c
B. Rent A/c
C. SBI A/c
D. Debtors A/c
