lOMoAR cPSD| 48011787
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Question text
Consider the following statements and state whether they are true or false.
Management accounting does not concern itself with monitoring and
Answer 1 control in the organisation.
identical goods are mass Answer 2 produced on a
continuous basis for a long time.
Feedback
A job costing system is most appropriate where different goods are
manufactured according to the customer’s specifications.
The correct answer is:
Management accounting does not concern itself with monitoring and control in
the organisation. → False,
Job costing system is most appropriate where identical goods are mass
produced on a continuous basis for a long time. → False
Question 2
Partially correct
Mark 1.00 out of 2.00
Downloaded by Vincent kyalo ()
, lOMoAR cPSD| 48011787
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Question text
Consider the following statements and state whether they are true or false:
The higher the ordering cost of a company, the higher its holding cost
Answer 1 will be.
In order to ensure compliance with IFRS, marketing and distribution
Answer 2 costs should not be apportioned to the
cost of goods manufactured.
Feedback
There is an inverse relationship between ordering cost and holding cost. Thus
the higher the ordering cost of a company, the lower the holding cost will be,
and the higher the holding cost, the lower the ordering cost will be.
The correct answer is:
The higher the ordering cost of a company, the higher its holding cost will
be. → False, In order to ensure compliance with IFRS, marketing and
distribution costs should not be apportioned to the cost of goods
manufactured. → True
Question 3
Partially correct
Mark 1.00 out of 2.00
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Question text
Complete the following statement by choosing the correct answer:
Downloaded by Vincent kyalo ()
, lOMoAR cPSD| 48011787
Prime costs and conversion costs both
share Blank 1
as a common element of the total
manufacturing costs.
Blank 2
is not considered as part of the total cost of inventory of a
VAT-registered manufacturing company.
Feedback
The correct answer is:
Complete the following statement by choosing the correct answer:
Prime costs and conversion costs both share
[direct labour] as a common element of the total
manufacturing costs.
[VAT charged on the purchase of materials] is not
considered as part of the total cost of inventory of a
VAT-registered manufacturing company.
Question 4
Correct
Mark 2.00 out of 2.00
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Question text
Complete the following statements by choosing the correct answer:
Downloaded by Vincent kyalo ()
Downloaded by Vincent kyalo ()
, lOMoAR cPSD| 48011787
Open course index
Question text
Consider the following statements and state whether they are true or false.
Management accounting does not concern itself with monitoring and
Answer 1 control in the organisation.
identical goods are mass Answer 2 produced on a
continuous basis for a long time.
Feedback
A job costing system is most appropriate where different goods are
manufactured according to the customer’s specifications.
The correct answer is:
Management accounting does not concern itself with monitoring and control in
the organisation. → False,
Job costing system is most appropriate where identical goods are mass
produced on a continuous basis for a long time. → False
Question 2
Partially correct
Mark 1.00 out of 2.00
Downloaded by Vincent kyalo ()
, lOMoAR cPSD| 48011787
Flag question
Question text
Consider the following statements and state whether they are true or false:
The higher the ordering cost of a company, the higher its holding cost
Answer 1 will be.
In order to ensure compliance with IFRS, marketing and distribution
Answer 2 costs should not be apportioned to the
cost of goods manufactured.
Feedback
There is an inverse relationship between ordering cost and holding cost. Thus
the higher the ordering cost of a company, the lower the holding cost will be,
and the higher the holding cost, the lower the ordering cost will be.
The correct answer is:
The higher the ordering cost of a company, the higher its holding cost will
be. → False, In order to ensure compliance with IFRS, marketing and
distribution costs should not be apportioned to the cost of goods
manufactured. → True
Question 3
Partially correct
Mark 1.00 out of 2.00
Flag question
Question text
Complete the following statement by choosing the correct answer:
Downloaded by Vincent kyalo ()
, lOMoAR cPSD| 48011787
Prime costs and conversion costs both
share Blank 1
as a common element of the total
manufacturing costs.
Blank 2
is not considered as part of the total cost of inventory of a
VAT-registered manufacturing company.
Feedback
The correct answer is:
Complete the following statement by choosing the correct answer:
Prime costs and conversion costs both share
[direct labour] as a common element of the total
manufacturing costs.
[VAT charged on the purchase of materials] is not
considered as part of the total cost of inventory of a
VAT-registered manufacturing company.
Question 4
Correct
Mark 2.00 out of 2.00
Flag question
Question text
Complete the following statements by choosing the correct answer:
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