11. Time booked as per Job Cards, the attendance time. What does it indicate?
a. It indicates that work was not done because worker was absent
b. It indicates that there isno work for that worker
c. It indicates the idle time during which the worker did not do any work, though he was present in the factory
d. None of the above
Answer: c. It indicates the idle time during which the worker did not do any work, though he was present in the factory
12. What is the relation between Variable cost and level of production?
a. Varies directly
b. It is controllable
c. It remains constant
d. It is partly fixed & partly changes
Answer: a. Varies directly
13. According to Marginal costing, which situation is profitable?
a. One that generates the no Contribution
b. One that generates lower Contribution
c. One that generates higher Contribution
d. One that generates average Contribution
Answer: c. One that generates higher Contribution
14. Match the Following
1] Credit note
i] Note showing the cash flow of the business
2] Debit side
ii] Left hand side of account
3] Debit note
iii] Right hand side of account
Credit side
iv] An intimation sent for account is being debited for the purpose there in
v] An intimation sent for account is being credited for the purpose there in
vi] An intimation sent by the customer
a. 1-iv, 2-iii, 3-v, 4-ii
b. 1-v, 2-ii, 3-iv, 4-iii
c. 1-v, 2-ii, 3-vi, 4-iii
d. None of the above
Answer: b. 1-v, 2-ii, 3-iv, 4-iii
15. In functional area of management, the personnel budget indicates the need of __________
a. Competitive management
b. Personnel or labour force
c. Training
d. Few additional departments to facilitate the production process
