multiple choice question for accounting and finance

FINANCE AND ACCOUNTING QUIZ/ MCQS # 20

amirblog October 10, 2021

Created on October 10, 2021

FINANCE AND ACCOUNTING QUIZ/ MCQS # 20

for federal Board, fpsc, nts, pts, uts, sts , competitive examinations , IFS, issb, kpsc, NABT , NRA , nts , OPSC , ots ,

1 / 10

An increase in selling price____________.

increases the break-even point.

decreases the break-even point.

oes not affect the break-even point

2 / 10

An increase in variable costs______________

increases p/v ratio

increases the profit

reduces contribution .

3 / 10

Margin of Safety is the difference between___________.

planned sales and planned profit .

actual sales and break-even sales.

planned sales and actual sales

4 / 10

P/V Ratio is an indicator of _______________.

the volume of sale

the volume of profit

the rate of profit.

5 / 10

Contribution margin is equal to___________.

fixed cost - loss .

profit + variable cost.

6 / 10

Period costs are__________

overhead costs

variable cost.

fixed costs.

7 / 10

Contribution margin is also known as __________

marginal income

gross profit.

net profit

8 / 10

Absorption costing differs from marginal costing is the____________.

fact that standard costs can be used with absorption costing but not with marginal costing .

amount of costs assigned to individual units of products .

kind of activities for which each can be used.

9 / 10

One of the primary differences between marginal costing and absorption costing regarding the
treatment of __________.

prime cost .

fixed overheads.

variable overheads

10 / 10

Production cost under marginal costing includes _____________.

prime cost only

prime cost and fixed overhead .

prime cost and variable overhead.

Your score is

The average score is 55%

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amirblog October 10, 2021