Q. A portion of work certified retained by contractee is known
✅ Correct Answer: (A)
Retention money
Applied Cost Accounting MCQs and Notes
Q. Value of work done to the satisfaction of contractee
✅ Correct Answer: (B)
Work un certified
Q. Contract price is the cost of work done plus a percentage
✅ Correct Answer: (A)
Cost plus contract
Q. Contract price is fixed in advance
✅ Correct Answer: (C)
Fixed price contract
Q. …………… is a graphical representation of marginal costing
✅ Correct Answer: (A)
Break even chart
Q. ……………….. is an angle formed in break even chart
✅ Correct Answer: (B)
angle of incidence
Q. The cost which remains constant with change in level of activities is called
✅ Correct Answer: (D)
fixed cost
Q. The cost which varies proportionate to increase in production is …….. cost
✅ Correct Answer: (B)
variable cost
Q. The angle formed were the total cost line under sects the sale line is
✅ Correct Answer: (A)
Angle of incidence
Q. Excess of actual sales over break even sales is …………………
✅ Correct Answer: (C)
Margin of safety