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F5 P1.1

Authored by K59 Binh

English

Professional Development

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F5 P1.1
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16 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Q20: The following costs have arisen in relation to the production of a product: (i) Planning and design costs (ii) Testing costs (iii) Production costs (iv) Customer service costs In calculating the life-cycle cost of a product, which of the above items would be included?

(iii) only
(i) and (iii) only
(i), (ii) and (iii) only
All of the above

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Q21: Which of the following statements about life-cycle costing is TRUE?

A product is usually most profitable during the growth of its life-cycle
Life-cycle costing is useful for deciding the selling price for a product
An important use of life-cycle costing is to decide whether to go ahead with the development of a new product
Life-cycle costing is most useful for products with an even weighting of cost over their life

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Q22: Different management accounting techniques can be used to account for environmental costs. One of these techniques involves analyzing costs under three distinct categories: material, system and delivery and disposal. What is this technique known as?

Activity based costing
Life-cycle costing
Input-output analysis
Flow cost accounting

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Q23: Which of the following statements is/are true regarding the issue faced by business in the management of their environmental costs?(i) The costs involved are difficult to define(ii) Environmental costs can be categorized as quality related cost(iii) Cost control can be an issue, in particular if costs have been identified incorrect….. the first place.

(i) only
(ii) and (iii) only
None of them
All of them

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Q24: Flow cost accounting is a technique which can be used to account for environmental costs. Inputs and outputs are measured through each individual process of production. Which of the following is NOT a category within flow cost accounting?

Material flows
Water flows
System flows
Delivery and disposal flows

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Q25: Accountants usually find it difficult to deal with environmental costs. Which of the following is NOT a reason for this?

Costs are often hidden
Costs are mostly minor
Costs are often very long term
Accounting systems rarely split off these costs automatically

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Q26: The contribution ratio of product A is 40%. The manufacturer of product A wishes to make a contribution of $100,000 towards fixed costs. If the selling price is $ per unit, the number of units of A that must be sold is:

50,000 units
40,000 units
20,000 units
8,000 units

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