Accounting MCQs with Answers
In cost accounting, the financial way of charging price for product above the cost, of acquiring or producing the goods is known as ___________?
A. sales margin B. cost margin C. Gross margin D. income margin
The quantity or number of units of different products that together make up total sales of the company is called _____________?
A. sales mix B. product mix C. unit mix D. quantity mix
In monetary terms, an expected value of the outcome is classified as __________?
A. expected value B. expected decision value C. expected outcome value D. expected monetary value
In accounting, the possibility of deviation of actual amount from an expected amount is classified as ___________?
A. contribution B. certainty C. uncertainty D. margin
The gross margin is $7000 and the revenues are $16000, then the cost of goods sold would be __________?
A. $23,000 B. −$23000 C. −$9000 D. $9,000
If the target net income is $9600 and the tax rate is 40%, then the target operating income would be ___________?
A. $10,000 B. $12,000 C. $16,000 D. $14,000
If the fixed cost is $20000, the target operating income is $10000 and the contribution margin per unit is $1200 then required units to be sold will be __________?
A. 55 units B. 45 units C. 35 units D. 25 units
If the budgeted revenue is $50000 and the breakeven revenue is $35000, then the margin of safety would be ____________?
A. $12,000 B. $14,000 C. $15,000 D. $16,000
The set of all the occurrences that may happen in near future or in any other fixed time are called __________?
A. events B. distribution C. outcome D. actions