B.Com (Prog.)

What do you mean by Forensic Accounting

• Recording and Summarising Financial data

• Examination of Blood samples collected in a Lab

• Use of accounting, auditing, and investigative skills to understand whether a person has committed fraud

• Accounting that aims to capture a company's total cost of production

Identify the image given

Which one of the following is not treated as a method of costing?

• Job costing & Operating costing

• Batch costing & Contract costing

• Marginal costing & Absorption costing

• Process costing & Unit costing

can we plan, control and reduce cost with cost accounting

• yes

• no

• may be

• not sure

Prime cost =

• Indirect materials + Indirect labour + Indirect expenses

• Total material + Total labour + Other expenses

• Total cost + selling costs + distribution costs

• Direct material + Direct labour + Direct expenses

Cost is classified into:

• Cost and expense
• Expense and revenue
• Indirect expense and Overheads
• Direct cost and Indirect cost