Welcome to the Accounting principle trivia questions. Every person who is studying and want to become a practicing accountant. Then it is expected to know the basic accounting principles by heart as they serve as a guideline on how they should perform their job. Do give it a try and see just how well you understand them in practice. All the best!   ; &nbs p; &nb sp; &n bsp;
A. increase in fixed cost
B. increase in sales
C. increase in production.
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A. planning
B. controlling
C. profit sharing
D. product costing.
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A. maximise profits
B. help in inventory valuation
C. provide information to management for decision-making
D. aid in the fixation of selling prices.
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A. property taxes
B. interest on capital
C. direct material cost
D. depreciation of machinery.
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A. mining quarries
B. steel production
C. brick kilns
D. all of these
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A. direct materials
B. factory overhead
C. direct labour
D. indirect labour.
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A. direct cost
B. budget
C. cost sheet
D. marginal costing.
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A. direct material cost
B. works manager’s salary
C. depreciation of machinery
D. chargeable expenses.
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A. variable cost per unit increases
B. variable cost per unit decreases
C. production volume increases
D. production volume decreases.
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A. cost of production and work-in-progress
B. cost of production and finished goods inventory
C. cost of production, work-in-progress and finished goods inventory.
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A. material cost and direct wages
B. material cost and indirect wagesc.
C. direct wages and factory overhead
D. material cost and factory overhead
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A. unit costing
B. job costing
C. batch costing
D. multiple costing
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A. paper mills
B. chemical worksc.
C. printing press
D. textile mill.
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A. varies when output varies
B. remains constant
C. increases when output increases
D. decreases when output decreases.
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A. ship-building
B. aeroplane industries
C. automobile industries.
D. None of these.
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A. production cost and finished goods inventory
B. production cost and work-in-progress
C. production cost, work-in-progress and finished goods inventory.
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A. oil refinery
B. car manufacturing company
C. sugar mill
D. multi-product company.
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A. overstate cost of goods produced
B. understate current assets
C. understate gross profit
D. overstate net profit
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A. unit costing
B. process costing
C. operation costing
D. operating costing.
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