Tag: Accounting Interview Questions

(A) Produced units > Units sold
(B) Produced units < Units sold (C) Produced units = Units sold (D) Profit cannot be determined with given statement[showhide type="post" more_text="►Correct Option" less_text="Show less..."] Correct Option is: A
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(A) A periodic investment of cash resources that has been made and should be relevant for decision making
(B) It is a past cost which is not directly relevant in decision making
(C) Management will treat it as variable cost each time in decision making
(D) None of the given options

(A) Reduced labor and overhead costs
(B) Reduced per unit variable costs
(C) Increased production
(D) Increased operating costs

(A) Opening stock Less purchases plus closing stock
(B) Closing stock plus purchases plus opening stock
(C) Sales less gross profit
(D) Purchases plus closing stock plus opening stock plus direct labor

(A) Deducting total cost from finished goods inventory
(B) Multiplying units of finished goods inventory with the cost per unit
(C) Dividing units of finished goods inventory with the cost per unit
(D) Multiplying total cost with finished goods inventory

(A) Fixed cost is a controllable cost
(B) Fixed cost is a product cost
(C) Fixed cost is an irrelevant cost ;
(D) Fixed cost is a period cost

(A) Opening work in process units
(B) Closing work in process units
(C) Unit completed and transferred out
(D) None of the given options

(A) Period cost
(B) Material cost
(C) Labour cost
(D) Factory overhead cost