(A) Sales returns
(B) Sales discounts
(C) Sales returns & allowances
(D) Sales returns & allowances and sales discounts
Tag: Accounting Mcqs
Which of the following is considered as basic systems of remunerating labor?
(A) Time rate system
(B) Piece rate system
(C) Halsey Premium plan
(D) Both time rate and piece rate system
In which of the following center FOH cost NOT incurred?
(A) Production Center
(B) Service Center
(C) General Cost Center
(D) Head Office
Which of the following is indirect cost?
(A) The depreciation of machinery
(B) The overtime premium incurred at the specific request of a customer
(C) The hire of tools for a specific job
(D) All of the given options
Net Income before Interest and tax is also called:
(A) Operating Income/Profit
(B) Gross Profit
(C) Marginal Income
(D) Other Income
Taking steps for the fresh purchase of those stocks which have been exhausted and for which requisitions are to be honored in future‖ is an easy explanation of:
(A) Overstocking
(B) Under stocking
(C) Replenishment of stock
(D) Acquisition of stock
Which of the following items of expense are to be add in FOH cost ?
(A) Rent of factory + Head office rent + salaries to factory watchman
(B) Rent of factory + factory lighting bill + Directors salaries
(C) Rent of factory + factory lighting bill + Factory employees salaries
(D) Head office rent + Factory property tax + Factory small tools
Which of the following is correct?
(A) Units sold=Opening finished goods units + Units produced – Closing finished goods units
(B) Units Sold = Units produced + Closing finished goods units – Opening finished goods units
(C) Units sold = Sales + Average units of finished goods inventory
(D) Units sold = Sales – Average units of finished goods inventory