Practice Test

Q1) The objective of uniform costing is to maximize profits. Show Answer

Q2) Uniform costing may lead to monopolistic conditions. Show Answer

Q3) The success of uniform costing depends upon the mutual confidence among the participating members. Show Answer

Q4) Uniform cost does not help free exchange of ideas. Show Answer

Q5) Uniform cost manual contains detailed instructions, plans and procedures to be followed. Show Answer

Q6) The object of inter firm comparison is to improve efficiency. Show Answer

Q7) Inter firm comparison does not maximize profitability. Show Answer

Q8) Central organization is necessary to analyse the data Show Answer

Q9) Inter firm comparison helps the firm to know the point of efficiency or inefficiency in relation to other firms. Show Answer

Q10) The scheme of inter comparison cannot be implemented successfully without central organization. Show Answer

Q11) Uniform costing does not eliminated competition Show Answer

Q12) Uniform costing helps to control cost. Show Answer

Q13) Uniform costing is a Show Answer

Q14) Uniform costing Show Answer

Q15) The object of uniform costing is Show Answer

Q16) The requisite of uniform costing is Show Answer

Q17) The document which shows information about costing system to be followed is Show Answer

Q18) Uniform costing helps in Show Answer

Q19) Uniform costing helps to control Show Answer

Q20) Uniform costing requires Show Answer

Q21) The objective of inter firm comparison is to Show Answer

Q22) Uniform costing helps an individual firm in cost _____. Show Answer

Q23) Inter-firm comparison is one of the aims of _____. Show Answer

Q24) Inter-firm comparison is a _____ of costing. Show Answer