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</html>";s:4:"text";s:5935:"Explanation are given for understanding. Useless in the determination of selling price because selling price or not based upon cost in this competitive era. What do you understand by Costing? Facilitating preparation of financial and other statements. Name four methods of Costing? You can download the QnA in cost accounting pdf form. Cost Accounting Interview Preparation Guide. Helpful in the determination of tender price. PRO Features Log In Course Outline Take the Tour PRO Features Log In. Q.10. Investment MCQ . Hence, accountants are employed by manufacturers, retailers, financial institutions, public utilities, government agencies, accounting firms,… Read More. A deferred cost is a cost that occurred in a transaction, but will not be expensed until a future accounting period. 33 Qualities (Complete List), 17 Role and Importance of Small Scale Industries, 19 Role And Importance Of Managerial Economics, 13 Types of Online Advertising Techniques. 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What do you understand by Costing? Answer – Cost means the amount of expenditure incurred upon manufacturing of an article or providing any service. (PDF) PROFESSIONAL LEVEL -I COST ACCOUNTING CMA QUESTIONS ... ... xdzgserhreh External stakeholders are those who have a vested financial interest in a business or company. Variable costs are those that are directly proportionate with the quantity of production and or directly associated with the service. In other words, it is the 365 days (366 days in a leap year) beginning on January 1 and ending on December 31. The process of accounting is needed to I. take a holiday II. Cost Accounting Interview Preparation GuideDownload PDFAdd New Question. assist in decision making III. Answer – The main objectives of cost accounting are as follows: Q.14. Definition of Annual Wage Limit Annual wage limit is a term in payroll accounting associated with the Social Security payroll tax. Helpful in decision making and policy farming. Question # 1 What is Cost Accounting? Reconciliation of Cost and Financial Accounts: Top Q&A, Cost Volume Profit Analysis or Marginal Costing: Top 12 Q&A, Budgetary Control: Top Best Q&A [Cost Accounting], Top 13 Elements of Cost Question & Answer (Cost accounting), Integrated and Non-Integrated Accounting System: Q&A, Top 15 Material Costing Problems with Solutions, Top 21 Labour Cost Question Answer (Cost Accounting), Top 13 Unit Costing Question Answer (Cost Accounting), Top 21 Qualities and Characteristics of Creative Person. Enter your email below to get access to Our All helpful Tips and Articles, Cost Accounting Basics: Top 15 Question & Answers, Top 13 Process Costing Question & Answer (Cost Accounting), Top 14 Job And Contract Costing Question Answer (Cost Accounting). Copyright © 2020 AccountingCoach, LLC. What is the difference between Cost Unit and Cost Centre? Notify me of follow-up comments by email. 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