Most Important & Most Repeated MCQs

  • Distribution overhead
  • Factory overhead
  • Selling overhead
  • Administration overhead
  • b
  • Depreciation Function is applied on Fixed Assets on yearly basis until value decreased to zero.
    Fixed Assets examples are Buildings, Furniture, Office Equipment, Machinery and etc.

  • Value of stocks
  • Selling price
  • Value of goods produced
  • Value of finished product
  • b
  • Indirect and direct costs
  • All indirect costs
  • All direct costs
  • All specific costs
  • b
  • Direct Labor, Direct Material, Wages for Production Staff, Fuel and Power Consumption are examples of Direct Cost.

  • Intangible assets
  • Fictitious assets
  • Tangible assets
  • Current assets
  • a
  • Computer Software, Database and Trade Secrets, Trademarks, Television Programs are examples of Intangible Assets.

  • Cash flow statement
  • Receipt and payment account
  • Final accounts
  • Funds flow statements
  • c
  • There are four major types of Capital Account which are Working Capital, Debt, Equity and Trading Capital.
    Revenue Account is that account which in which revenue earned by companies operations and business activities.

  • The chief executive officer salary
  • A marketing cost related to selling the product
  • The salary of production line supervisor
  • Research and development cost of a new product
  • c
  • Insurance, Utilities, Rent, HR Expense, Office Exp, Repair and Maintenance Exp and Taxes are included in Overhead Expenses.

  • Closing balance
  • Debit balance
  • Opening balance
  • Credit balance
  • b
  • Debit Balance is a balance in the left side of Account.