(A) Variable, fixed and semi-variable overheads
(B) Fixed, semi-variable and variable overheads
(C) Semi-variable, variable and fixed overheads
(D) Variable, semi-variable and fixed overheads
Tag: Financial Accounting Mcqs
Which of the following is not an example of marketing overheads ?
(A) Salary of the foreman
(B) Publicity expenses
(C) Salaries of sales staff;
(D) Secondary packing charges
Which of the following is not included in functional classification of overheads ?
(A) Repairs and maintenance
(B) Lubricating oil
(C) Consumable stores
(D) Chargeable expenses
Overhead expenses can be classified according to :
(A) Functions
(B) Elements
(C) Behavior
(D) All of the above
Which of the following is calculated by a formula that uses net sales as denominator?
(A) Inventory turnover ratio
(B) Gross profit rate
(C) Return on Investment
(D) None of the given options
Which of the following systems of inventory valuation computes cost of goods sold as a residual amount?
(A) Weighted Average.
(B) Last-in-First-out.
(C) Periodic Inventory System.
(D) Specific Identification.
Which of the following inventory valuation methods shows higher profits during the period of rising prices?
(A) FIFO method.
(B) LIFO method.
(C) Weighted average method.
(D) Simple average method.
The inventory method where the cost per unit is recomputed after every addition in the inventory is known as:
(A) Specific identification method.
(B) Moving average method.
(C) Last-in- First – Out method.
(D) First-in-First-Out method.