Answer Accounting Questions and Get Free eBook of Professional Opportunities for Cost Accountant

Today, we are happy to announce that all those who will give the answers of our cost accounting questions, can get   free eBook  of Professional Opportunities for Cost Accountant  {Total Value Rs. 2,50,000 ($ 4649.2598)}  in Gift form. There will neither any advertising nor any sponsorship banner in it.
This is the 3rd 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 past Contest and result at here.

Before giving online answer, please read its

following rules.

1. Total Value of Prizes =  Rs. 2,50,000 ($ 4649.2598)


2. Prizes will be in Our ebook whose market value is Rs. 1000 ($ 18.5970). 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  (Oct. 2012) contents which have been written in accounting education website.

5. Result will be declared 7th Nov. 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 more than 50%, will be more than 250, 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 Store Ledger?

(a) A book in which, we keep different stock accounts. (b) A book in which, we keep record of  issue of stock only. (c) A book in which, we keep record of receipt of material only. (d) A book in which, we keep record of rejected material only.

Question 2. What is Research Expenses?

(a) This is the salary of employees who research on the system with this, we will enable to restrict the promotion of our employees. (b) Expenses which are incurred for researching new technologies and methods of production and cost saving. (c) Expenses of  building and showroom. (d) Expenses of entertainment.

Question 3. What is the basis of Apportionment of Fire Insurance?

(a) Value of documents which destroyed in the fire. (b) Value of total capital of company (c)  Value of Stock in any Department (d) Value of top posted employees in any department

Question 4. What is the basis of Apportionment of E.S.I.?

(a) Value of stock in each department (b) total D.A. of each department's employees. (c) Value of building of each department. (d)  Wages of Each Department

Question 5. What is the basis of Apportionment of Canteen Service?

(a) No. of Employees in Any Department (b) No. of cooks  in each department   (c)  Total value of food in each department (d) All above basis are wrong

Question 6. Which is the Formula of MHR?

(a) = Total overhead cost / Per unit Machine Hour Cost (b)  = Total Overhead Cost / Total Machine Hours (c)  = Total Machine Hours / Total Overhead Cost (d) = Repair Cost / Total Machine Hours

Question 7. What is integral system accounting?

(a) It is the system of accounting in which we keep record in two set. One is one the basis of financial accounting and second is on the basis of cost accounting rules. (b) It is the system of accounting in which we make accounting worksheet (c)  It is the system of accounting in which we keep records by following both cost and financial accounting rules. (d) It is the system of accounting in which we make 445 calendar.

Question 8. If we have the profit as per cost account and we have to reconcile with the profit as per financial accounts, we will add bank interest received in the profit as per cost account because

(a) Cost accountant wrote it in wrong side of another account. (b) Our cost accountant had forgotten  to add bank interest received. (c) Bank did not inform to cost accountant after receiving the interest. (d) As per cost accounting rules, costing profit and loss account will show the expense and incomes relating to production not investment.

Question 9. What is non-integral system accounting?

(a)  Non-integral system of accounting in which we keep the records of transactions in books. First time, we record on the basis of financial accounting rules. Again,we record the transactions on the basis of cost accounting rules. (b) It is the system of accounting in which we make 445 calendar. (c) It is the system of accounting in which we make accounting worksheet (d) It is the system of accounting in which we keep records by following both cost and financial accounting rules.

Question 10. Which is the formula of calculating abnormal loss?

(a) = Normal Cost at Normal Production / Normal Output X units of normal loss (b) = Normal cost at normal production / normal output X units of abnormal loss (c)  =  value of Scrap / Units of abnormal loss (d) = Value of Scrap - total normal loss Answer will be shown after declaring the result. So, please wait.