Reference no: EM132979115
Question - In 2015, the component sold 4,000,000 head defenders before tracking down a gigantic deformation in their turn of events.
By December 31, 2015, two cases had been recorded against the substance.
The essential case, which the substance has insignificant chance of winning, is depended upon to be secretly tended to any remarkable issues for P1,500,000 in January 2016.
The legal exhortation acknowledged that the substance has a 50-50 chance of winning the resulting guarantee, which is for P1,000,000.
1) Accord Company sells cruiser covers. What is the aggregated obligation on December 31, 2015 on account of the cases?
a. 1,500,000
b. 1,000,000
c. 2,500,000
d. 0
2) What part will be passed under made construction for spot to banks for techniques made?
(a) Dr. Banks Cr. Money
(b) Dr. Banks and Cr. Stores Ledger Control A/c
(c) No parcel
3) The bookkeeping zone in blended records for recording plans will be:
(a) Dr. Cost record control account Cr. Benefit and trouble account
(b) Dr. Plans account Cr. Benefit and Loss A/c
(c) Dr. Money A/c Cr. Game-plans A/c
4) What will be the bookkeeping area for help of getting ready plant overhead?
(a) Dr. Works in progress control A/c Cr Factory overhead control A/c
(b) Dr. Current office overhead and Cr. Current office overhead control A/c
(c) No segment is required
5) Job costing is utilized in
(a) Furniture making
(b) Repair shops
(c) Printing press
(d) All of the actually alluded to
6) In an endeavor cost structure, costs are amassed
(a) On a month to month premise
(b) By unequivocal work
(c) By division or cycle
(d) By sort of material utilized
7) The most reasonable expense structure where the things contrast in kind of material and work performed is
(a) Operating Costing
(b) Job costing
(c) Process costing
(d) All of these.
8) Cost Price isn't fixed if there should be an occasion of
(a) Cost despite contracts
(b) Escalation plan
(c) De speed increment plan
(d) All of the actually alluded to
9) Most of the costs are fast in
(a) Job costing
(b) Batch costing
(c) Contact costing
(d) None of the actually alluded to
10) Cost paying little heed to contact is all through gone into those conditions where
(a) Cost can be kindly studied
(b) Cost of certified and uncertified work
(c) Cost of certified work, cost of uncertified work and level of benefit moved to Profit and Loss Accounts.
11) Cost of relationship under working costing is found by masterminding:
(a) Cost sheet
(b) Process account
(c) Job cost sheet
(d) Production account