POA - Manu A/c Revision

POA - Manu A/c Revision

9th - 12th Grade

20 Qs

quiz-placeholder

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POA - Manu A/c Revision

POA - Manu A/c Revision

Assessment

Quiz

Other

9th - 12th Grade

Practice Problem

Easy

Created by

Josiah williams 2B

Used 2+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For businesses involved in making products (production process), what type of account do they prepare?

a. Manager's account

b. Manual account

c. Manufacturing account

d. Main account

Answer explanation

Manufacturing businesses prepare a manufacturing account.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The manufacturing account is for use by?

a. Customers

b. Competitors

c. Government

d. Owners & managers of the business

Answer explanation

This is for internal use of the business only. Managers & owners will use the information presented in the account.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose for manufacturing accounts?

a. To determine profit

b. To earn income

c. To show the cost of producing goods.

d. To help in decision making

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose for manufacturing accounts?

a. To determine profit

b. To earn income

c. To show the cost of producing goods.

d. To help in decision making

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are three categories of costs used to calculate the total cost of manufacturing?

a. Direct costs

b. Prime cost, Production cost & Total cost

c. Fuel cost, other costs

d. All costs

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The production process begins with direct materials, direct labour & direct expenses. This cost category is called?

a. Total cost

b. Prime cost

c. High cost

d. Low cost

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does prime cost involve?

a. Prime facts

b. Direct costs

c. Expensive costs

d. Assets

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