Cost Accounting Essentials Quiz
Basic objectives of cost accounting is
cost ascertainment
profit analysis.
tax compliance.
financial audit.
Law compliance
Classification of cost is useful
to find gross profit
to find net profit.
to identify costs.
to identify efficiency.
Elements of costs are.
three types
four types
five types.
seven types.
Total of all direct costs is termed as
prime cost.
works cost
cost of sales
cost of production
Office and administrative expenses can be charged on the basis of
material cost
labour cost
prime cost.
factory cost
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