Started on Thursday, 12 October 2023, 7:27 PM
State Finished
Completed on Thursday, 12 October 2023, 7:46 PM
Time taken 18 mins 19 secs
Marks 38.67/44.00
Grade 87.88 out of 100.00
Question 1
Incorrect
Mark 0.00 out of 1.00
Step variable costs are predominately fixed in nature.
True
False
Question 2
Correct
Mark 1.00 out of 1.00
The three cost elements ordinarily included in the inventoried cost of manufactured product are direct materials, direct labour and marketing costs.
True
False
Question 3
Correct
Mark 1.00 out of 1.00
The predetermined absorption rate is used to assign overheads to the units of production.
True
False
Question 4
Correct
Mark 1.00 out of 1.00
The three basic types of business organisations are distributors, wholesalers and retailers.
True
False
, Question 5
Correct
Mark 1.00 out of 1.00
Process costing accumulates and assign costs to jobs or customers.
True
False
Question 6
Correct
Mark 1.00 out of 1.00
Job costing system is used in those situations where units of a product are homogeneous, such as in the manufacture of sugar.
True
False
Question 7
Partially correct
Mark 1.00 out of 2.00
Complete the following statements by choosing the correct answer from the options provided.
The ratios which reveal the result of the managerial policies and performance are known as Efficiency ratios .
Financial and management accounting are similar in that both involve summarizing financial data .
Question 8
Correct
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer from the options provided.
Management accounting information is cost effective when the value of the information exceeds the cost of producing it. .
The quick ratio excludes inventory .
State Finished
Completed on Thursday, 12 October 2023, 7:46 PM
Time taken 18 mins 19 secs
Marks 38.67/44.00
Grade 87.88 out of 100.00
Question 1
Incorrect
Mark 0.00 out of 1.00
Step variable costs are predominately fixed in nature.
True
False
Question 2
Correct
Mark 1.00 out of 1.00
The three cost elements ordinarily included in the inventoried cost of manufactured product are direct materials, direct labour and marketing costs.
True
False
Question 3
Correct
Mark 1.00 out of 1.00
The predetermined absorption rate is used to assign overheads to the units of production.
True
False
Question 4
Correct
Mark 1.00 out of 1.00
The three basic types of business organisations are distributors, wholesalers and retailers.
True
False
, Question 5
Correct
Mark 1.00 out of 1.00
Process costing accumulates and assign costs to jobs or customers.
True
False
Question 6
Correct
Mark 1.00 out of 1.00
Job costing system is used in those situations where units of a product are homogeneous, such as in the manufacture of sugar.
True
False
Question 7
Partially correct
Mark 1.00 out of 2.00
Complete the following statements by choosing the correct answer from the options provided.
The ratios which reveal the result of the managerial policies and performance are known as Efficiency ratios .
Financial and management accounting are similar in that both involve summarizing financial data .
Question 8
Correct
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer from the options provided.
Management accounting information is cost effective when the value of the information exceeds the cost of producing it. .
The quick ratio excludes inventory .
