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Limitations of the financial accounting

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Reference no: EM13997049

1. Basic objectives of cost accounting is__________.

A. tax compliance.

B. financial audit.

C. cost ascertainment.

D. profit analysis.

2. Direct cost incurred can be identified with ________.

A. each department.

B. each unit of output.

C. each month.

D. each executive.

3. Overhead cost is the total of ____________.

A. all indirect costs.

B. all direct costs.

C. indirect and direct costs.

D. all specific costs.

4. Cost classification can be done in __________.

A. two ways.

B. three ways.

C. four ways.

D. several ways.

5. Costing refers to the techniques and processes of __________ .

A. ascertainment of costs.

B. allocation of costs.

C. apportion of costs.

D. distribution of costs.

6. Cost accounting was developed because of the ________.

A. limitations of the financial accounting.

B. limitations of the management accounting.

C. limitations of the human resource accounting.

D. limitations of the double entry accounting.

Reference no: EM13997049

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