Today, we are happy to announce that all those who will give the answers of our cost accounting questions, can get   free eBook  of cost accounting {Total Value Rs. 2,50,000 (\$ 4758.2794)}  in Gift form. There will neither any advertising nor any sponsorship banner in it.

This is the second time when we are giving the free gift to those who will give the answers, clear the test and will get rank. See our Past First Contest at here and its result at here.

1. Total Value of Prizes =  Rs. 2,50,000 (\$ 4758.2794)

2. Prizes will be in Our ebook whose market value is Rs. 1000 (\$ 19.0331). 250 winners as per our result will get this gift free of cost.

3. You have to  write the answers in following answer sheet. When you will win the prize, we will send ebook  to your given email address.

4. All are 10 objective type questions which have taken from my previous month's  (Sept. 2012) contents which have been written in accounting education website.

5. Result will be declared 7th Oct. 2012. So, from today, you have 7 days to answer for winning gift from me.

6. Every candidate who will get the 50%  marks, will get the chance of winning the prize. If  candidates who have chance, will be more than 125, we will use random lottery system for finding the winner.

7. Just Answer in Answer Sheet. Please do not write the question. For example if answer of 5 question  is d, write 5. d

So, if you love to accounting, come to answer this online test and win prizes from us.

 Question 1. What is Costing? (a) System of calculating the cost is called costing (b) System of deducting cost from Sales (c) System of multiply cost rate with quantity sold (d) System of calculating cash expenses in total cost Question 2. What is Cost Unit? (a) Cost unit is that unit of measurement which is helpful to classify the cost and measure the cost of products and services. (b) Cost unit is the conversion of all units of measurement in one unique unit of measurement. (c) Cost unit is the increment in total cost after every month. (d) Cost unit the cost per unit Question 3. Which is not Method of Costing? (a) Fund Costing (b) Diverse Costing (c) Contract Costing (d) Batch Costing Question 4. Which is not the Part of Material Purchase Procedure? (a) To Return the Goods Which are not under the Purchase Order List (b) Receipt and Checking of Goods (c) Completion of Record (d)  Getting Free Repair Service Question 5. What is Restock? (a) Restock means to fill the stock with new materials and products. (b) Restock means to cover the dead stock.     (c)  Restock means to issue stock at lead time (d) Restock means buying of new stock at the time of minimum level Question 6. Which is the Formula of Minimum Level? (a) Reorder Level - ( Normal Consumption X Normal Reorder Period ) (b) Reorder Level - ( Normal Consumption X Maximum Period ) (c)  Reorder Level - ( Normal Consumption X Minimum Period ) (d) Reorder Level - ( Normal Consumption X Danger Level ) Question 7. Which is the Formula of Maximum Level? (a) Reorder level + Economic Order quantity − (Minimum rate of usage × Minimum lead time) (b) Reorder Level + EOQ (c) Reorder Level - Economic Order quantity − (Minimum rate of usage × Minimum lead time) (d) Reorder Level - Minimum Quantity − (Minimum rate of usage × Minimum lead time) Question 8. What is Danger Level of Inventory? (a) It means that quantity at which we stop to issue the stock for general production. (b) It means that quantity at which we store keeper gets bribe for issue the material. (c) It means that quantity at which sells the material for his personal benefits. (d) It means to show the stock only in books without any physical quantity. Question 9. What is Lead Time? (a)  it is the time between placing the purchase order of inventory and getting the same inventory. (b) it is the time between sale and actually delivery. (c) it is the time between placing the purchase order of inventory and sending its report to Accounts Department. (d) It is the time between Receiving Credit  Note and Returning Goods. Question 10. Which is the formula of Re-order Level (a) Minimum Level + Consumption during the time required to get fresh delivery (b) Maximum Level + Consumption during the Production time (c) Maximum Level + Consumption during maximum period (d) Re-order quantity + Danger level Answer will be shown after declaring the result. So, please wait.

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Accounting Education: Answer Accounting Questions and Get Free eBook of Cost Accounting
Answer Accounting Questions and Get Free eBook of Cost Accounting