Q. Cost of one process may be transferred to the next process at
✅ Correct Answer: (C)
Cost or market price
Applied Cost Accounting MCQs and Notes
Q. Cost of ………… is not included in the cost of the process
✅ Correct Answer: (A)
Abnormal los
Q. In ………… costing no distinction is made between direct and indirect materials
✅ Correct Answer: (C)
Process
Q. The finished product of last process is transferred to ……………… a/c
✅ Correct Answer: (D)
finished stock
Q. In ………… costing separate account “ process A/C ” is kept for each process
✅ Correct Answer: (A)
Proces
Q. Abnormal gain =…………..
✅ Correct Answer: (B)
N.C of normal output / normal output * units of A. gain
Q. Milk, butter cream, etc obtained in is example of
✅ Correct Answer: (B)
joint product
Q. A portion of main contract entrusted to some one else
✅ Correct Answer: (D)
Sub contract
Q. Work in the process of completion
✅ Correct Answer: (A)
Work in progres
Q. Profit on incomplete contract is known as ,………..
✅ Correct Answer: (B)
notional profit