1. What is the indifference point between A and B? A 1.4 B 0.7 58000 30000 Variable cost per unit(in rupees) Fixed cost (in rupees) (a) 30000. (b) 40000 (c) 50000. (d) * 60000. 2. Total Sales: * 10,000; Break Even Point: 4000; P/V ratio: 40% Calculate Profit (in rupees). (a) 2000. (b) * 2200. (c) 2400. (d) 2600. 3. A standard that represents the most likely scenario can be referred to as the: (a) Average standard. (b) Ideal standard. (c) Basic standard. (d) Attainable standard. 4. The standard cost of a product is: (a) The planned unit cost of products produced during a particular period. (b) The average unit cost of products produced during a particular period. (c) The average unit cost of products produced in the previous period. (d) The unit cost of products incurred at the start of a particular period. 5. Which one of the following are the accounting plans for standard costing? (a) Single plan. (b) Double plan. (c) Both a and b. d) None of the above. 6. Which is the most appropriate pricing policy for the latest version of mobile phone which is being launched by an established financially strong company? (a) Skimming pricing. (b) Penetration Pricing. (c) None of the above. (d) Market Price. 7. How is contribution arrived at? (a) Sales-variable cost. (b) Fixed cost + Profit (c) Both a and b. (d) None of the above. 8. Find profit in rupees) if Sales 6,00,000; Fixed Cost 90,000; P/V ratio 40% (a) 1,50,000 (b) 1,20,000 (c) 1,30,000. (d) 1,80,000. 9. Find the Breakeven Point (in units): Selling Price/unit: 5 Variable cost/unit: 3 Fixed cost: 60,000 P/V ratio: 40% (a) 30,000. (b) 20,000. (C) 40,000 (d) 80,000 10. The master budget will comprise: (a) The cash budget. (b) The budgeted profit and loss account and budgeted balance sheet (c) All the production, selling and cost budgets for the organization. (d) The cash budget, the budgeted profit and loss account and the budgeted balance sheet. 11. A flexible budget is: (a) A budget that comprises of variable cost only. (b) A budget that will changed every month. (C) A budget that is adjusted to reflect different costs at different activity levels. (d) A budget that is constantly being changed. 12. A fixed budget is: (a) A budget that never changes. (b) A budget that is set for a specific activity. (C) A budget that itemises fixed cost of a department (d) A budget that ignores inflation. 13. The term budget period relates to: (a) The period for which the budget is prepared. (b) The subdivisions of the main budget (c) The period in which the budget is finalized. (d) A specific year for which the budget is prepared