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Q. The cost of direct material is termed as…………..

Q. US GAAP allows FIFO, LIFO and Weighted average method to value stock?

Q. The…………….must maintain a proper classified record of all purchases, uses and stock of materials.

Q. The expenses which cannot be directly identified with a particular unit or cost centre is known as …………………...

Q. ………………cost is predetermined cost for each element of cost.

Q. …………………..does not deal with the accumulation, classification, analysis, allocation, summarization, interpretation, reporting and control of current and perspective costs.

Q. If WIP opening stock is 10,000 units, work done in the period is 13,000 and WIP closing stock is 5,000 units. The equivalent completed unit during the period is:

Q. ……………..cost is the cost of commodities supplied to an undertaking.

Q. The stock level at which the storekeeper initiates purchase requisitions is known as………….

Q. The cost that remains unchanged in spite of change in volume of production is known as………….