Expert Tutors
Test Questions
- What you understand by process costing?
- What are the 4 essential aspects of process costing?
- Define the concept of process costing.
- What are the benefits of process costing?
- What are te features of process costing?
- Give a detailed explanationof process costing in various industries.
- Briefly explain the limitations of process costing.
- Name any 7 industries which use process costing.
- Differentiate and explain about process costing and job costing.
- When does abnormal loss or abnormal gain emerge?
- What can you understand by Normal loss?
- State the objectives of inter-process profit.
- How normal loss be treated in cost accounts?
- How can abnormal loss or abnormal gain be treated in cost accounts?
Links of Previous Main Topic:-
- Introduction to accounting and branches of accounting
- Preparation of final accounts
- Introduction of fund flow statement
- Introduction cash flow statement
- Ratio analysis significance of ratio analysis
- Fixed assets and depreciation meaning causes objectives methods and basic factor
- Cost accounting concept objectives advantages limitations general principles and cost sheet
- Introduction process costing
Links of Next Finance Topics:-
- Activity based costing introduction concept and classification
- Introduction inventory pricing and valuation
- Standard costing introduction
- Management accounting
- Marginal costing
- Relevant cost for decision making
- Budget and budgetary control
- Limitations of historical accounting
- Introduction to responsibility accounting
