Accountant

A A method used only for tax returns B A method that excludes all production overhead C A method that records only cash costs D A method that includes fixed and variable production costs in product cost

A A future avoidable cost B A cost already incurred that cannot be changed by the current decision C A cost that has not yet been committed D A cost that varies with the decision

A An accounting error B A cost already paid in the past C A cost that has no alternative use D The benefit sacrificed by choosing one alternative over the next best alternative

A Recording every transaction twice B Preparing tax invoices C Comparing actual results with budgeted or standard results and investigating differences D Calculating only the closing bank balance

A Actual material price being higher than standard price B Sales being below budget C Actual material price being lower than standard price for actual quantity purchased or used, as defined by the variance method D Actual usage exceeding standard usage

A A budget that never changes for any activity level B A budget without numerical amounts C A budget adjusted to the actual level of activity D A budget prepared only for capital purchases

A Inventory quantities only B Expected cash receipts and cash payments C Gross profit only D Depreciation expense only

A A method that simply increases last year's budget by a fixed percentage B A method used only when sales are zero C A method that ignores all costs D A method requiring activities and expenditures to be justified from a zero base

A A dividend payment B Routine monthly office stationery expense C A payment of trade payables D Expenditure to acquire or improve a long-term asset

A Customer credit limits only B Long-term investment in assets and projects C Daily petty cash reimbursements only D Payroll deductions only