Wednesday, August 11, 2010

HOLY RAMAZAN MUBARAK

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Tuesday, August 10, 2010

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Sunday, August 8, 2010

IT430 Final Paper 2010

FINAL TERM  EXAMINATION
Spring 2010
IT430- E-Commerce (Session - 1)
Time: 90 min
Marks: 60
Question No: 1    ( Marks: 1 )    - Please choose one
 JIT Stands for
 Just In Tim
 Joint investigation Technique
 Join in Training
 Just In Total
Page 147 :For instance, packaging material should only be ordered for just in time (JIT) delivery,
Question No: 2    (Marks: 1)    - Please choose one
 JIT concept means
 No distribution channel
 No warehousing
 Easily delivery
 No communicatio
Question No: 3    ( Marks: 1 )    - Please choose one
Press release can provide information about current events and news to, which of following, via a internet?
 Print media
 T.v commercial
 Press or media
 T.v program.
Page 135: Press releases can provide information about current events and other important news to the press or media via internet.

Question No: 4    ( Marks: 1 )    - Please choose one
Visitor’s location, IP address, time of visit related information are added, in which of the following
 call handling files
 cookies
 log files
 Data mining files.
Page 136: Log files consist of data generated by site visits and include information about each visitor’s location.
Question No: 5    ( Marks: 1 )    - Please choose one
 FSTC stands for:
 Financial Services Technology Consortium
  Financial Secrets Technology Consortium
 Final Security threats control
 First Service Technology Consortium
Page 113: Financial Services Technology Consortium (FSTC) is a group of U.S banks, research agencies and government organizations formed in 1993.
Question No: 6    ( Marks: 1 )    - Please choose one
 Downstream activities relate to?
  Materials/services or the input from suppliers
 Manufacturing and packaging of goods
 Distribution and sale of goods to distributors/customers
 Manufacturing and Distribution
 Page 155: Downstream activities relate to distribution and sale of goods to distributors/customers  
Question No: 7    ( Marks: 1 )    - Please choose one
 The process of taking active role in working with suppliers to improve products and processes is called?
  Value chain management
 Supply chain management
 Supply chain management software
 Porter Model
 Page 155: The process of taking active role in working with suppliers to improve products and processes is called supply chain management.Today, firms are reaching beyond limits of their own organizational structure.  
Question No: 8    ( Marks: 1 )    - Please choose one
 Porter’s Model helps a firm to identify threats to its competitive position and to devise plans including the use of IT and e-commerce to protect or enhance that position.
  True
 False
 Page 158 : Porter’s Model helps a firm to identify threats to its competitive position and to devise plans including the use of IT and e-commerce to protect or enhance that position.

Question No: 9    ( Marks: 1 )    - Please choose one
 Which of the following is NOT force of Porter’s  competitive  rivalry  Model?
  Threat of potential/new entrants
 Threat of substitute
 Differentiation  and cost leadership
 Competition between existing players
 Page 158: force of Porter’s competitive
  • Threat of potential/new entrants to the sector
  • Threat of substitute product or service in the existing trade
  • Bargaining power of the buyers
  • Bargaining power of the suppliers
  • Competition between existing players

 Question No: 10    ( Marks: 1 )    - Please choose one
ANSI stands for ……….
  American National Standards Institute
 All Network Standards Institute
 American New standards Institute
 Australia National standards Institute
Page 147: ANSI (American National Standards Institute)

Question No: 11    ( Marks: 1 )    - Please choose one
 Company collecting information assumes that the customer does not object to a specific use of information unless the customer specifically denies the permission. Thus, the company may use the collected information for its own purpose, as well as, sell or rent it out to other firms or persons. Which of the following Approach it is using?
  Opt-inout
 Opt-out
 Swap-out
 Opt-in
Question No: 12    ( Marks: 1 )    - Please choose one
An address represented by four decimal numbers separated by a period is the
   IP
 RIP
 MAC
 None of the given
 Page no 7: IP addressing
It is the logical addressing scheme used to identify computer machines on the internet. Each computer has a unique IP address provided by IP protocol for a given session. It is represented by four decimal numbers separated by a period e.g, 140.57.220.200 (see Fig. 5 below). Computers see this information as a stream of 32 bits.
Question No: 13    ( Marks: 1 )    - Please choose one
 Who is making the Web standards?
  International Standard Organization
 ANSI
 Microsoft
 The World Wide Web Consortium
Page 74: World Wide Web Consortium (W3C), a non-profit organization that maintains standards for the web presented the draft of XML in late 1990’s.
Question No: 14    ( Marks: 1 )    - Please choose one
Individuals who write programs or manipulate technologies to gain unauthorized access to computers and networks are --------------- .
 administrators
 experts
 hackers
 coders
Page 94: Hackers Hackers or crackers are those individuals who write programs or manipulate technologies to gain unauthorized access to computers and networks.
Question No: 15    ( Marks: 1 )    - Please choose one
 The process of scrambling a message with the help of a key is called -------------- .
 Cryptography
 Filtering
 Transposition
 Encryption
Page 100: The process of scrambling a message with the help of a key is called Encryption.
Question No: 16    ( Marks: 1 )    - Please choose one
 Which of the following is NOT supported by position property?
 Relative
 absolute
 static
 dynamic
Question No: 17    ( Marks: 1 )    - Please choose one
 JavaScript variables can begin with ----------- .
  a lower case letter
 an underscore character
 a dollar sign
 all of the above
 Page 54: Variable names can begin with an uppercase letter (A-Z), lower case letter (a-z), an underscore character (_), or dollar sign ($). Remaining characters can be any of the above or from digits (0-9). In JavaScript variables are case sensitive.
Question No: 18    ( Marks: 1 )    - Please choose one
 Symmetric algorithms are faster than asymmetric.
  True
 False
Page 105: The advantage of using symmetric key is that since symmetric algorithms are faster as compared to asymmetric,
Question No: 19    ( Marks: 1 )    - Please choose one
SET doesn’t require special software on the client or merchant side.
 True
 False
Question No: 20    ( Marks: 1 )    - Please choose one
Which e-business helps to improve policies, procedures, customer services, and general operations of other businesses?
 Online shopping malls.
 Selling intellectual property online.
 Online service providers.
 Online automotive sites and energy online.
Page 129: Online Service Providers e-businesses help improve policies, procedures, customer service and general operations of other businesses. They can provide consultancy/professional services, for example, web site development services, online legal consultancy services etc.
Question No: 21    ( Marks: 1 )    - Please choose one
 Choose which one is a very critical element in supply chain management in an E-commerce environment.
 Transaction
 Communication
 None of the given
 All of the given
Page 155: Internet is a very quick and effective tool of communication. On the other hand, communication is also a very critical element in supply chain management.
Question No: 22    ( Marks: 1 )    - Please choose one
Established ----------- can build trust for online business more quickly as compared to a new company/business without reputation
 Brand
 Language
 Culture
 Infrastructure
 Page 161: Note that companies with established brands can build trust for online business more quickly as compared to a new company/business without reputation, since a brand conveys expectations about how the online business would behave.
Question No: 23    ( Marks: 1 )    - Please choose one
 -------------means services in relation to the transformation of contents of an electronic
document from its original form to one that cannot be understood or decoded by any unauthorized person
  Cryptography services
 Accredited Certification Service Provider
 Originator
 Addressee
 Page 163: “‘Cryptography services’ means services in relation to the transformation of contents of an electronic document from its original form to one that cannot be understood or decoded by any unauthorized person”.
Question No: 24    ( Marks: 1 )    - Please choose one
Choose the right one that which organization based in Switzerland is one such arbitration service provider nominated under the UDRP.
  WITO
 WIPO
 MIPO
 MITO
Page 182: World Intellectual Property Organization (WIPO) based inSwitzerland is one such arbitration service provider nominated under the UDRP.
Question No: 25    ( Marks: 1 )    - Please choose one
 ------------- wrong is an act deemed by law to be harmful to the society in general such as theft or murder etc. and the state itself is a party in such matters.
 Criminal
 Civil
 Plentiful
 None
Page 176: criminal wrong (crime) is an act deemed by law to be harmful to the society in
general such as theft or murder etc. and the state itself is a party in such matters.
Question No: 26    ( Marks: 1 )    - Please choose one
 Why we use reset tag in HTML?
 To remove the text written in Notepad.
 To remove the text written in between and tag.
 To remove the text written in between and tag.
 To remove the text written in between
and
tag.

Question No: 27    ( Marks: 1 )    - Please choose one
If we apply hash function on any message the message will become message digest. Can we get original message by applying hash function again on message digest?
 Yes
 No
Page 103: A hash function is said to be one way because we cannot go back to the original text on applying the hash function to a message digest.
 Question No: 28    ( Marks: 1 )    - Please choose one
 The process of key search attack is driving private key from _____.
 Public key
 Symmetric key
 Asymmetric key
 Private key
Page 108: The public key and its corresponding private key are linked with each other with the help of a large composite number. These attacks attempt to derive the private key from its corresponding public key using that number.
Question No: 29    ( Marks: 1 )    - Please choose one
 In e-cash system which type of encryption is used?
 a) Symmetric
 b) Asymmetric
 Both a&b
 None
Page 118 : The request is encrypted with a symmetric key and that symmetric key is encrypted with the public key of the bank, thus creating a secure envelope.
 Question No: 30    ( Marks: 1 )    - Please choose one
Brand marketing is related to the barrier
  Language Barrier
 Cultural
 Lack of Trust
 Network Barrier
Question No: 31    ( Marks: 2 )
What is Competition between existing players?.
Competition within businesses to get more customers and trade at a price that produces a satisfactory profit. If there are lots of players of the same size, capacity and strategy having little difference between their goods, then there is fierce competition among them as regards the price of the goods.
 Question No: 32    (Marks: 2 )
 What is the use of CRC in communication over the network?
Cyclical Redundancy Check (CRC), help us to confirm integrity of data frames.
Question No: 33    ( Marks: 2 )
 What is the Key difference between the B2C and B2B?
B2C stands for Business-to-Consumer and deals between electronic markets to consumer (end user) directly e.g. Amazon.com, while B2B is Business-to-Business and make bridge between two or more organization.
Question No: 34    ( Marks: 2 )
What is meant by online defamation?
A defamatory statement is a false statement that injures the reputation of on another company. In cases of defamation the appeal taken by the defendant is that his statement is not false. Rather, it is a ‘fair comment’. In case defamation is done using the internet, it is termed as online defamation

Question No: 35    ( Marks: 3 )
In ETO, what are functions of Accredited Certification Service Provider?
 Accredited Certification Service Provider means a Certification Service Provider accredited under this Ordinance to issue certificates for the use of its cryptography services.
 Question No: 36    ( Marks: 3 )
 SSL is better than SET. Do you agree with this statement? Justify your answer. (1+2)
Question No: 37    ( Marks: 3 )
 What is meant by connectivity media in networking? What are two different options to connect computers on a network?              1+2
 Question No: 38    ( Marks: 3 )
 Write down the principles of private legislation?
 Following are the principles:
·        A private bill should only be passed at the explicit request of the persons who are to benefit from the legislation.
·        Pertinent information regarding a private bill should be made available to all interested persons.
·        All persons or bodies affected by a private bill should be heard and the need for the bill demonstrated.
·        The financial burden of considering a bill for the benefit of private interests should not be borne solely by the public treasury.
Question No: 39    ( Marks: 5 )
 What is cyber squatting and  its purpose ?Give its example.
The act of deliberately registering domain names having trademarks of famous companies to later blackmail or demand payment from those companies is called cyber squatting. For example; Assume there is a firm ‘Nassir Enterprise’ and it wants to have its web site. It also wants to have the word ‘Nassir’ as a part of its domain name because for years it has been recognized in the market through this word. However, at the time of registration of its domain name it finds that a person Mr. ‘A’ who has nothing to do with the business of the firm or the word ‘Nassir’ has already registered a domain name containing this word as a part of it. Since there cannot be two similar domain names, the firm is forced to request Mr. ‘A’ to transfer that domain name to it. In response, if Mr. ‘A’ blackmails or claims ransom from the said firm, he would be said to have committed cyber squatting.

Question No: 40    ( Marks: 5 )
How much benefits you can derive from E-banking? Brief shortly each.
Followings are some advantages getting from E-banking:
·        Get current account balances at any time
We can check our accounts balances from anywhere of world, no need to go bank.
 ·        Obtain credit card statements
If you want reconcile your statements you can get easily from it.
 ·        Pay utility bills
Paying bills by credit card give much relief to users, no need of stand in queue for long time.
 ·        Download account information
Any info you want about your account, get from online bank accounts
 ·        Transfer money between accounts
Money transferring is not headache, no need of stand in queue for long time.
 ·        Send e-mail to your bank
It’s no easier to live in contact with your bank.
 ·        Handle your finances from
You can manage finances from it.

MGT402 Final Paper 2010

FINALTERM  EXAMINATION
Spring 2010
MGT402- Cost & Management Accounting (Session - 3)
Ref No: 1444631
Time: 90 min
Marks: 69
Student Info
 StudentID:
  M
 Center:
  OPKST
 ExamDate:
  09 Aug 2010

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Question No: 1    ( Marks: 1 )    - Please choose one
 If Selling price per unit Rs. 15.00; Direct Materials cost per unit Rs. 3.50; Direct Labour cost per unit Rs. 4.00 Variable Overhead per unit Rs. 2.00; Budgeted fixed production overhead costs are Rs. 60,000 per annum charged evenly across each month of the year. Budgeted production costs are 30,000 units per annum. What is the Net profit per unit under Absorption costing method.

       ► Rs. 9.50
       ► Rs. 15.00
       ► Rs. 11.50
       ► Rs. 3.50
   
Question No: 2    ( Marks: 1 )    - Please choose one
 Which of the following cost is linked with the calculation of cost of inventories?
       ► Product cost
       ► Period cost
       ► Both product and period cost
       ► Historical cost
   
Question No: 3    ( Marks: 1 )    - Please choose one
 If, Sales      = Rs. 800,000
Markup rate   = 25% of cost
What would be the value of Gross profit?
       ► Rs. 200,000
       ► Rs. 160,000
       ► Rs. 480,000
       ► Rs. 640,000
   
Question No: 4    ( Marks: 1 )    - Please choose one
 Which of the following is TRUE when piece rate system is used for wage determination?
       ► Under this method of remuneration a worker is paid on the basis of time taken by him to perform the work
       ► Under this method of remuneration a worker is paid on the basis of production
       ► The rate is expressed in terms of certain sum of money for total production
       ► The rate is not expressed in terms of certain sum of money for total production
   
Question No: 5    ( Marks: 1 )    - Please choose one
 Which of the following manufacturers is most likely to use a job order cost accounting system?
       ► A soft drink producer
       ► A flour mill
       ► Tobacco manufacturing concern
       ► A builder of offshore oil rigs
   
Question No: 6    ( Marks: 1 )    - Please choose one
   Materials Costs (Rs.)                 Conversion Costs (Rs.)

Work-in-process, May 1                     46,000                                   78,000
Current costs (May)                            92,000                                 124,000
Total cost                                          138,000                                  202,000

If the equivalent units of production under FIFO costing were 40,000 and 50,000 for materials and conversion costs, respectively, what are the costs per equivalent unit for Material and Conversion?
       ► Rs. 1.15, Rs.1.56
       ► Rs.1.76, Rs.1.94
       ► Rs. 2.30, Rs. 2.48
       ► Rs. 3.45, Rs. 4.04
   
Question No: 7    ( Marks: 1 )    - Please choose one
 Jones, Industries uses process costing system. In October, the finishing department had 30,000 (20% as to conversion) units in beginning work-in-process, 45,000 (40% as to conversion) units in ending inventory and had 95,000 units transferred in from the previous department. Material is added at the end of the process and conversion costs are added uniformly throughout the process.
Required: If Jones uses weighted average, what are the equivalent units of production for direct material and conversion costs?

       ► Material 125,000 units Conversion cost 45,000 units
       ► Material 125,000 units Conversion cost 98,000 units
       ► Material 125,000 units Conversion cost 18,000 units
       ► Material 125,000 units Conversion cost 80,000 units
   
Question No: 8    ( Marks: 1 )    - Please choose one
 The salary of factory clerk is treated as:
       ► Direct labor cost
       ► Indirect labor cost
       ► Conversion cost
       ► Prime cost
   
Question No: 9    ( Marks: 1 )    - Please choose one
 Average consumption x Emergency time is a formula for the calculation of:
       ► Lead time
       ► Re-order level
       ► Maximum consumption
       ► Danger level
   
Question No: 10    ( Marks: 1 )    - Please choose one
 EOQ is a point where:
       ► Ordering cost is equal to carrying cost
       ► Ordering cost is higher than carrying cost
       ► Ordering cost is lesser than the carrying cost
       ► Total cost is maximum
   
Question No: 11    ( Marks: 1 )    - Please choose one
 A worker is paid Rs. 0.50 per unit and he produces 18 units in 7 hours. Keeping in view the piece rate system, the total wages of the worker would be:
       ► 18 x 0.50 = Rs. 9
       ► 18 x 7 = Rs. 126
       ► 7 x 0.5 = Rs. 3.5
       ► 18 x 7 x 0.50 = Rs. 63
   
Question No: 12    ( Marks: 1 )    - Please choose one
 Which of the following concept is used in absorption costing?
       ► Matching concept
       ► Cost concept
       ► Cash concept
       ► None of the given options
   
Question No: 13    ( Marks: 1 )    - Please choose one
 When closing stock is over valuate, what would its effect on profit?
       ► Can not determined with given statement
       ► It will Increase the profit
       ► It will decrease the profit
       ► No effect on profit
   
Question No: 14    ( Marks: 1 )    - Please choose one
 A firm sells bags for Rs. 14 each. The variable cost for each unit is Rs. 8. What is the contribution margin per unit?
       ► Rs. 6
       ► Rs. 12
       ► Rs. 14
       ► Rs. 8
   
Question No: 15    ( Marks: 1 )    - Please choose one
 Which of the following is NOT true? A small company's breakeven point:
       ► Occurs where its revenue equals its expenses
       ► Shows entrepreneurs’ minimum level of activity required to keep the company in operation
       ► Is the point at which a company neither earns a profit nor incurs a loss
       ► Total contribution margin equals total variable expenses
   
Question No: 16    ( Marks: 1 )    - Please choose one
 Keller Co. sells a single product for Rs. 28 per unit. If variable costs are 65% of sales and fixed costs total Rs. 9,800, the break-even point will be:
       ► 15,077 units
       ► 18,200 units
       ► 539 units
       ► 1,000 units
   
Question No: 17    ( Marks: 1 )    - Please choose one
 In process costing, a joint product is

       ► A product which is later divided in to many parts
       ► A product which is produced simultaneously with other products and is of similar value to at least one of the other products
       ► A product which is produced simultaneously with other products but which is of a greater value than any of the other products

       ► A product produced jointly with another organization
   
Question No: 18    ( Marks: 1 )    - Please choose one
 The by-product of Soap is:

       ► Glycerin
       ► Meat Hides
       ► Fats
       ► Flour Bran
   
Question No: 19    ( Marks: 1 )    - Please choose one
 While constructing production budget, numbers of units manufactured are calculated by which of the following formula?
       ► Number of units to be sold + closing units – opening units
       ► Number of units to be sold - closing units + opening units
       ► Number of units to be sold - closing units – opening units
       ► Number of units to be sold + closing units + opening units
   
Question No: 20    ( Marks: 1 )    - Please choose one
 If B Limited shows required production of 120 cases of product for the month, direct labor per case is 3 hours at Rs. 12 per hour. Budgeted labor costs for the month should be:
       ► Rs. 1,360
       ► Rs. 1,440
       ► Rs. 4,320
       ► Rs. 5,346
   
Question No: 21    ( Marks: 1 )    - Please choose one
 Which of the following best describe a flexible budget?
       ► A budget of variable production costs only
       ► A budget which shows the costs and revenues at different levels of activity
       ► A budget which is prepared using a computer spreadsheet model
       ► A budget which is updated with actual costs and revenues as they occur during the budget period
   
Question No: 22    ( Marks: 1 )    - Please choose one
 Which of the following is a process by which managers analyze options available to set courses of action by the organization?
       ► Heuristics method
       ► Decision making
       ► The Delphi technique
       ► Systematic error
   
Question No: 23    ( Marks: 1 )    - Please choose one
 Which of the following is not true about differential costs?
       ► It is a broader concept than variable cost as it takes into account additional fixed costs caused by management decisions
       ► With the passage of time and change in situation, differential costs will vary
       ► The difference in cost between buying them from outside or make them in the company is differential cost, irrelevant for decisions
       ► They are extra or incremental costs caused by a particular decision
   
Question No: 24    ( Marks: 1 )    - Please choose one
 In short term decision making which of the following is not concerned?
       ► Cash flows
       ► Time value of money
       ► Pay back period
       ► Capital investments
   
Question No: 25    ( Marks: 1 )    - Please choose one
 In one off contracts, a contract will probably be accepted if:
       ► It increases contribution margin and decreases profit
       ► It increases both contribution margin and profit
       ► It reduces contribution margin and increases profit
       ► It reduces both contribution margin and profits
   
Question No: 26    ( Marks: 1 )    - Please choose one
 Which one of the following is the Traditional approach for costing?

       ► Contribution approach
       ► Absorption costing approach
       ► Decision making approach
       ► Marginal costing approach
   
Question No: 27    ( Marks: 1 )    - Please choose one
 What would be the margin of safety ratio based on the following information?
·     Sales price                 = Rs. 100 per unit
·     Variable cost              = Rs. 25 per unit
·     Fixed cost                   = Rs. 50 per unit
       ► 25%
       ► 33.333%
       ► 66.666%
       ► 75%
   
Question No: 28    ( Marks: 1 )    - Please choose one
 Which of the following step is the 3rd step towards budgeting process?
       ► Forecasting
       ► Determination of Principle budget factor
       ► Decision about the removal of constraints
       ► Construction of budget on agreed basis
   
Question No: 29    ( Marks: 1 )    - Please choose one
 If:
Cost of opening finished goods Rs. 2,000
Cost of goods to be produced Rs. 6,000
Operating expenses Rs. 1,000.

Which of the following is the cost of goods available for sale?
       ► Rs. 8,000
       ► Rs. 4,000
       ► Rs. 7,000
       ► Rs. 9,000
   
Question No: 30    ( Marks: 1 )    - Please choose one
 Ahmed Corporation has sales of Rs. 500,000 for the period. The selling expenses are estimated as 12% of sales. The gross profit for the period is amounting to Rs. 150,000.
Calculate the amount of selling expenses for the period?
       ► Rs. 60,000
       ► Rs. 45,000
       ► Rs. 90,000
       ► Rs. 210,000
   
Question No: 31    ( Marks: 1 )    - Please choose one
 Which of the following is NOT suitable action taken by the firm to overcome the problem of cash shortage during a period?
       ► Overdraft arrangement
       ► Selling off assets
       ► Extension in credit period with suppliers
       ► Issue of bonus shares
   
Question No: 32    ( Marks: 1 )    - Please choose one
 Which of the following would NOT lead to an increase in net cash flow?
       ► Larger sales volume
       ► Higher selling price
       ► Reduced material cost
       ► Charging of lower depreciation
   
Question No: 33    ( Marks: 1 )    - Please choose one
 All of the following are features of a relevant cost EXCEPT:
       ► They affect the future cost
       ► They cause an increment in cost
       ► Relevant cost is a sunk cost
       ► They affect the future cash flows
   
Question No: 34    ( Marks: 1 )    - Please choose one
 Which of the following statement is TRUE about the relevant cost?
       ► It is a sunk cost
       ► It is an opportunity cost
       ► It do not affect the decision making process
       ► All costs are relevant
   
Question No: 35    ( Marks: 1 )    - Please choose one
 Fixed budget is based on which of the following?
       ► Normal capacity
       ► Actual capacity
       ► Theoretical capacity
       ► None of the given options
   
Question No: 36    ( Marks: 1 )    - Please choose one
 An ice factory has a contribution margin of Rs. 450,000 and fixed cost for the year amounts to Rs. 495,000. The fixed cost of Rs. 215,000 can be eliminated if the operations are to be closed during winter season. An extra sale of Rs. 25,000 is also expected during winter season. What would be the decision?
       ► Operations would be closed during winter season
       ► Operations would be continued as we are having extra sales in winter season
       ► Operations would be partially closed
       ► None of the given options
   
Question No: 37    ( Marks: 1 )    - Please choose one
 In decision making all costs already incurred in past should always be:
       ► Ignored
       ► Considered
       ► Partially ignored
       ► Partially considered
   
Question No: 38    ( Marks: 1 )    - Please choose one
 Which of the following statement is TRUE about historical cost?
       ► It is always relevant to decision making
       ► It is always irrelevant to decision making
       ► It is always an opportunity cost
       ► It is always realizable value
   
Question No: 39    ( Marks: 1 )    - Please choose one
 In cost accounting, unavoidable loss is charged to which of the following? 




       ► Factory over head control account
       ► Work in process control account
       ► Marketing overhead control account
       ► Administration overhead control account
   
Question No: 40    ( Marks: 1 )    - Please choose one
 Meerick Differential Piece Rate Plan based on _____________piece rates is fixed.
       ► Two
       ► Three
       ► Four
       ► Five
   
Question No: 41    ( Marks: 1 )    - Please choose one
 Which of the given is (are) the method(s) of measurement of Labor Turnover?




       ► Separation method
       ► Flux method
       ► Replacement method
       ► All of the given options
   
Question No: 42    ( Marks: 1 )    - Please choose one
 Cost of production report is also known as:



       ► Process cost sheet
       ► Job order cost sheet
       ► Balance sheet
       ► Material requisition sheet
   
Question No: 43    ( Marks: 1 )    - Please choose one
 Which of the given units can never become part of first department of Cost of Production Report?

       ► Units received from preceding department
       ► Units transferred to subsequent department
       ► Lost units
       ► Units still in process
   
Question No: 44    ( Marks: 1 )    - Please choose one
 Details of the process for the last period are as follows:

Put into process
5,000 kg
Materials                       
Rs. 2,500
Labor                             
Rs.700
Production overheads  
200% of labor

Normal losses are 10% of input in the process. The out put for the period was 4,200 Kg from the process. There was no opening and closing Work- in- process. What were the units of abnormal loss?


       ► 500 units
       ► 300 units
       ► 200 units
       ► 100 units
   
Question No: 45    ( Marks: 1 )    - Please choose one
 Which of the given will NOT be included for the calculation of equivalent units of material under weighted average costing method?




       ► Opening work in process units 
       ► Closing work in process units 
       ► Unit completed and transferred out
       ► None of the given options
   
Question No: 46    ( Marks: 1 )    - Please choose one
 If products/goods cannot sell at split off point then cost can be allocated on the basis of:




       ► Hypothetical market value basis
       ► Selling price ratio
       ► Income basis
       ► Cost basis
   
Question No: 47    ( Marks: 1 )    - Please choose one
 ABC Company makes a single product which it sells for Rs. 20 per unit. Fixed costs are Rs. 75,000 per month and product has a profit/volume ratio of 40%. In that period actual sales were Rs. 225,000.
Required: Calculate ABC Company Break Even point in Rs.


       ► Rs.187, 500
       ► Rs.562, 500
       ► Rs. 1,500,000
       ► None of the given options
   
Question No: 48    ( Marks: 1 )    - Please choose one
 Which of the given budget tells the financial effects?




       ► Production budget
       ► Production cost budget
       ► Sales budget in units
       ► None of the given options
   
Question No: 49    ( Marks: 3 )
 A study has been conducted to determine if one of the departments of Mead Company should be discontinued. The contribution margin in the department is Rs. 150,000 per year. Fixed expenses charged to the department are Rs. 195,000 per year. It is estimated that Rs. 120,000 of these fixed expenses could be eliminated if the department is discontinued. Will it be favorable to discontinue department operations? Support your answer with suitable working.
   
Question No: 50    ( Marks: 3 )
 The following information is available for Atlas Corporation to prepare a cash budget for the month of September:
·          Cash on hand beginning of September Rs. 16,000
·          Expected receipts in September Rs. 272,000
·          Sales salaries paid Rs. 62,000
·          Material purchases (all in cash) Rs. 190,000
·          Depreciation Rs. 44,000
Required: Calculate ending cash balance in September. Also show complete working.
   
Question No: 51    ( Marks: 5 )
 The Carter Manufacturing Company estimates its production requirements to be 30,000 units for October, 38,000 units for November and 41,000 units for December. It takes 3 direct labor hours at a rate of Rs. 3 per hour to complete one unit.
 Prepare direct Labor budget cost for the last quarter of the year.
   
Question No: 52    ( Marks: 5 )
 Data concerning P Co’s single product is as follows:

Rs./unit
Selling price
7.00
Variable cost
3.00
Fixed production cost
4.00
Fixed selling cost
1.00

Budgeted production and sales for the year are 12,000 units.
Required: What will be the company’s new Break Even point, to the nearest whole unit if it is expected that the variable production cost per unit will each increase by 10% and fixed cost will rise by 25% and other things remains same.
Note: it is necessary to show complete working
   
Question No: 53    ( Marks: 5 )
 G incorporation a manufacturer of skin care products is considering dropping from its line Moisturizing Cream, which is currently losing money. Following information of G incorporation’s three products are given below.

Cleansers
 & Toners
   (Rs)
  Moisturizing
Cream
(Rs)
Eye Care Creams
(Rs)
Sales revenue
500,000
300,000
400,000
Less: Variable Cost
230,000
200,000
230,000
Contribution margin
270,000
100,000
170,000
Less: Fixed Cost:
Separable cost
Common cost

50,000
106,000

59,000
60,000

40,000
85,000
Profit (loss)
114,000
(19,000)
45,000

Required: What do you think that G incorporation should discontinue the product line Moisturizing Cream? Support your answer with complete working.