CMA Foundation Fundamentals of Accounting Online Test 2019

Accounting function does not include

Example to Nominal Account

A Trial Balance shows

The Cash book records

Bank reconciliation statement shows the reconciliation of

Depreciation refers to the process of

Irrespective of level of output Variable Cost Per Unit is:

The Cost of Opportunity foregone is called

Wages paid for no work is done is called

A worker is paid ` 0.50 per unit and he produces 18 units in 7 hours. Keeping in view the piece rate system, the total wages of the worker would be:

A firm sells bags for 14 each, the variable cost for each unit is 8. What is the contribution margin per unit?

Example for Semi-Variable Expenses

To compute the surplus or deficit for the year Non trading concerns we prepare

Identify the Example to Capital Expenditure

Purchase of Fixed Asset by payment of Cash of 10,000 results in .

The process of recording business transactions in a book of original entry is known as

Sales Returns Book is used to record

A Debit balance in the Bank column of the Cash Book indicates

Maximum Consumption X Maximum lead time is the formula for

Fixed Costs are also known as

Which of the following is not a Inventory issue valuation method?

Which of the following item is not included in Factory Overheads?

BEP is found by the following formula:

The main purpose of cost accounting is to