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Q. ……………….obviates the necessity for the physical checking of all items of stores at the end of the year and thereby avoids dislocation ofproduction.

Q. ………is a technique of material cost control which leads to low carrying cost as a result of low investment in inventory

Q. . Turnover ratio is also known as .

Q. The budget which usually takes the form of budgeted profit and loss account and balance sheet is known as

Q. Budget of indirect costs in the form of indirect wages, indirect material and indirect expenses in the factory is .

Q. 1f` fixed costs decrease while variable cost per unit remains constant, the new B.E.P in relation to the old B.E.P will be .

Q. Long-term budgets are prepared for .

Q. …….is a budget which is updated continuously by adding a further period (a month/quarter) and deducting a corresponding earlierperiod.

Q. .........................Accounting is not only a positive science but also a normative science because it includes techniques of budgetary controland standard costing.

Q. Return on equity is also called