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The aggregate of direct material, direct labour and direct expenses is known as

A. Product Cost

B. Manufacturing Cost

C. Prime Cost

D. Production Cost

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  1. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  2. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  3. In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of…
  4. Capital of the business is an example of external liability.
  5. Fixed Assets are stated in the balance sheet at their market value.
  6. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  7. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  8. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  9. Accrual concept implies accounting on cash basis.
  10. Wages and Salaries is a charge against
  11. Cash is an example of
  12. WDV stands for
  13. WIP stands for
  14. Cash payments are recorded on the _______________ of the Cash Book.
  15. The balance in the Cash Book represents net income.
  16. Depreciation cannot be provided in case of loss, in a financial year.
  17. The account which can never have a credit balance is
  18. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  19. HUF stands for
  20. The short description of a transaction written at the end of a journal entry is known as _______________.
  21. The aggregate of direct material, direct labour and direct expenses is known as
  22. Transfer to General Reserve is a charge against
  23. Net Realisable Value of an asset means
  24. E. & O.E.
  25. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  26. Providing depreciation ensures sufficient cash for asset replacement.
  27. An expense incurred to keep the machine in working condition is a capital expenditure.
  28. Trial Balance is prepared after the preparation of Profit and Loss Account.
  29. Goodwill is not a fictitious asset.
  30. The first step of accountancy is