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Quiz 12
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Q.1
third step in decision making process is
linear predictions
dependent predictions
making predictions
independent predictions
Q.2
If invested capital is $150000 and target rate of return on investment is 16%, then target annual operating income would be
$27,000
$26,000
$24,000
$25,000
Q.3
Type of outcomes, which can never be measured in numerical terms in books of accounts are classified as
expected factors
recorded factors
qualitative factors
quantitative factors
Q.4
Decisions made by company, which products to manufacture and sell and in what quantities out, of many product lines are called
incremental decisions
outsource decisions
product mix decisions
in-source decisions
Q.5
Type of outcomes that can be measured in numerical terms are classified as
qualitative factors
quantitative factors
expected factors
recorded factors
Q.6
Financial factors measured in numerical terms, having some monetary value are considered as
qualitative factors
quantitative factors
expected factors
recorded factors
Q.7
Forgone contribution of resources, in to revenues because of not using resources, in next best use is classified as
in-source cost
opportunity cost
offshore cost
outsource cost
Q.8
Difference of cost, which occurs while considering alternatives can be classified as
dependent cost
independent cost
incremental cost
differential cost
Q.9
An income, which a company aims to earn by selling each unit of market offering is classified as
target operating income per unit
target cost per unit
total current full cost
total cost per unit
Q.10
As compared to irrelevant cost, occurrence of relevant costs must
have high correlation
be in future
be in past
be zero correlated
Q.11
In cost-plus pricing, 'plus' refers to a component named as
off shore cost
markup
sunk cost
outsource cost
Q.12
Low level managers in organizations are to make decisions about
net income irrelevancy
operating income maximization
operating income minimization
operating income relevancy
Q.13
An estimated cost per unit in long run, which enables company to achieve it's per unit target, operating income is classified as
target operating income per unit
target cost per unit
total current full cost
total cost per unit
Q.14
Which of following do not include among major categories of corporate costs?
human resource management costs
corporate administration costs
treasury costs
discretionary costs
Q.15
In static budget, difference between corresponding budgeted amount and actual result is called
sales mix variance
sales volume variance
flexible budget variance
static budget variance
Q.16
Costs such as book value of old machines are $25000 can be a classified as an example of
salvages
relevant
irrelevant
depreciated cost
Q.17
Systematic evaluation of value chain, to reduce costs and high quality to achieve satisfied customers is known as
reverse engineering
value engineering
target engineering
operation engineering
Q.18
Decisions made by team of individuals or single person, whether to outsource products or in-source are classified as
demand or supply decisions
make or buy decisions
relevant or irrelevant decision
idle or busy decisions
Q.19
Difference that exists between total revenues, can be earned from two different alternatives is termed as
independent revenue
incremental revenue
differential revenue
dependent revenue
Q.20
If flexible budget amount is $7500 and sales volume variance is $6500, then static budget amount would be
$7,500
$6,500
$1,000
$10,000
Q.21
If sales volume variance is $8500 and static budget amount is $2000, then flexible budget amount would be
$6,500
$6,600
$6,700
$6,800
Q.22
Practice by seller of offering same product at different prices, to different customers is known as
price incurrence
price discrimination
price targeting
price engineering
Q.23
Total cost incur by customer to use, acquire, maintain and dispose service or product is classified as
budgeted life cycle
targeted life cycle
customer life cycle
operating life cycle
Q.24
Span time from initial research and development of product till support and customer service, if not offered for that particular product will be called
product life cycle
life cycle budgeting
life cycle costing
target costing
Q.25
Kind of costs that has been occurred in past are also known as
unrecorded costs
recorded costs
sunk costs
bunked costs
Q.26
In corporate costs, costs incur for employee recruitment, development and training are classified as
discretionary costs
human resource management costs
corporate administration costs
treasury costs
Q.27
In customer cost hierarchy, cost of activities related to specific channel of distribution is classified as
discretionary channel costs
corporate-sustaining costs
distribution-channel costs
engineered resource costs
Q.28
If budgeted revenue is $20000 and breakeven revenue is $15000, then margin of safety will be
$35,000
$13,000
$5,000
$10,000
Q.29
Graph, which shows change in sold quantity and its effect on operating income is called
PV graph
CV graph
SO graph
QI graph
Q.30
Concept, which states that resources are used to meet particular goals is
cost incurrence
valued incurrence
locked incurrence
non valued incurrence
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