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ACC 203 CBT PRACTICE

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Take your time to read instructions before taking this test.

There are 40 questions which you are to answer in 15 minutes that gives you roughly 30 seconds per question.

If you can get at least 60%, you can be rest assured that you’ll ace ACC 203 exam

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PS

In a normal exam you will be asked between 40 – 60 questions but I only arranged 40 questions

Note

Do not be in a hurry to answer the questions

Do not waste time on a question you don’t know

Move as fast as possible and starting with questions that don’t have calculation first to save time

Always crosscheck

Don’t be in a hurry to submit, you are not in a competition

Don’t be scared. Getting an A is easy

Don’t be over confident, you can end up a D, E or F. Calm your blood, no be only you sabi book

Please do well to use our comment box incase there’s a message you want to pass to us

70 – 100 A

60 – 69 B

50 – 59 C

45 – 49 D

40 – 44 E

0 – 39 F

I wish you success

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15

ACC 203

1 / 40

1. ________ is the cost of sequence of operations beginning with making the packed product available for dispatch and ending with making the reconditioned returned empty package, if any, available for reuse.

2 / 40

2. _______ indicates what percentage of sales is generated as operating profit

3 / 40

3. ____- include Specialization and the division of labour.

4 / 40

4. __________ is a measure of the relationship between the current assets and current liabilities.

5 / 40

5. A department, plant or an item of equipment can make up a cost centre referred to as ________

6 / 40

6. _________ variable costs are those variable costs which are directly related to the production or sales level

7 / 40

7. _______ are costs of seeking new ideas, materials, methods of production and improved products and the development and design of such ideas so that they can be applied to formal production.

8 / 40

8. The three elements of cost are material, labour and

9 / 40

9. ________ measures the extent to which fixed interest liabilities relate to the equity

10 / 40

10. ________ measures the efficiency of the firm in utilization of capital employed to generate income.

11 / 40

11. The following are examples of variable cost except

12 / 40

12. _________ is the cost of formulating the policy, directing the organization and controlling the operations of an undertaking which is not related directly to a production, selling, distribution, research or development activity or function

13 / 40

13. ___________ are expenses can be directly and wholly allocated to a particular product, job or service

14 / 40

14. _______ variable costs are those variable costs which are directly related to the production or sales level

15 / 40

15. ________ is the amount of time it takes for the material to be delivered from the supplier after an order has been placed.

16 / 40

16. _________ ratio are used to determine the ability of a firm to meet its current obligations.

17 / 40

17. ________ is the midway between the minimum stock level and the maximum stock level.

18 / 40

18. ___________ are used to ascertain the long-term financial performance of a company

19 / 40

19. ________ is the level of inventory where it becomes necessary to place order for new supply

20 / 40

20. __________ indicates the number of times fixed dividend is covered by profit.

21 / 40

21. ___ partner contributes only the money needed for formation of the business or for running of the business.

22 / 40

22. _________ are cost of formulating policy, directing and controlling operations not related directly to production, selling, distribution or research and development.

23 / 40

23. _____ use resources to be able to perform their functions

24 / 40

24. ________ indicates the amount of the net profit after tax attributable to each ordinary share issued

25 / 40

25. The following are classifications of overhead except _______

26 / 40

26. _______ cost are costs which are a part of the cost of a product rather than an expense of the period in which they are incurred

27 / 40

27. The following are materials that can be reffered to as stock except _______

28 / 40

28. _______ is the part of development cost incurred in making a trial production as preliminary to formal production is called pre-production cost.

29 / 40

29. The following are examples of fixed cost except

30 / 40

30. ______ is the cost of searching for new or improved products, new application of materials, or new or improved methods.

31 / 40

31. ________ ratio indicates the financial plan of the entity and shows if the entity is financed more by debt or by equity

32 / 40

32. Accounting ratio serves as a means of________ financial information.

33 / 40

33. ________ is cost of process which begins with the implementation of the decision to produce a new or improved product or employ a new or improved method and ends with the commencement of formal production of that product or by the method.

34 / 40

34. _______ benefit from business training opportunity.

35 / 40

35. The following are methods of valuing stock except

36 / 40

36. The costs that can be easily identified with a department, process or product are termed as

37 / 40

37. The statutory of management science can be traced back to after the___ World War.

38 / 40

38. _________= Re-order level (Average usage X Average delivery period)

39 / 40

39. Discretionary fixed cost is also known as managed or _________ cost

40 / 40

40. The point at which neither profit nor loss is made is known as the ________

Your score is

The average score is 26%

0%

Please do well to drop a comment if this has really helped you. Thanks❤️

Ace/Undergragra

Ace aka Undergragra is a 500 Level Computer Engineering Student in the Federal University Oye-Ekiti. He is a passionate teacher,writer,educational consultant and educational informant.
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